Macroeconomics: UK economy, IB Economics

Already filed under the "Not Good News" category, the latest growth figures must be a cause for concern, if only because the ONS have suggested that the bad winter weather is only responsible for a tiny part of this.

However, it will be interested to see what happens when subsequent revisions occur. Many people think that there's likely to be an upwards revision, but even then, it's not expected to be significant.

The bigger worry is going to be the extent to which weaker construction data might presage sluggish future growth.

Reading the runes, the news management coming from the Bank of England is telling me that, on balance, there has been little change in the view of the Monetary Policy Committee (MPC) regarding interest rate changes. 

First Mark Carney says that they are aware of Breixt uncertainty and then Michael Saunders says that 'The Beast From the East' hasn't really affected the UK economy. 

Make of that what you will, but it's an indication that managing the news has an increasingly important role in policymaking. But should it?