RANsquawk EU Morning Call - BoE April Meeting Minutes Preview - 18/04/12

Comments

[EconSammie]

Actually the numbers of real significance for the UK today were these ones.

Real wages continue their fall in the UK

From the Office for National Statistics

Total pay (including bonuses) rose by 1.1 per cent on a year earlier, down 0.2 on the three months to January 2012

As we found out yesterday that the official inflation figure is now 3.5% then we have real wages falling at 2.4%. Not quite the same time periods but it troubles me that nominal wages are falling too.

How are we going to have a sustained recovery with numbers like that?

http://www.mindfulmoney.co.uk/wp/shaun-richards/both-spain-and-portugal-will-be-dragged-down-by-their-weakening-banking-sectors-unless-they-change-policy/

It is a good question i think