Manufacturing down - Queen blamed

The ONS (Office of National Statistics) revealed a decline in the UK manufacturing output of 2.9% in June, following a rise of 1% in May, some of which it is believed has been caused by the Jubiliee holidays.

The rate of decline is especially worrying, as it is the fastest in three years and kills hopes of a swift exit from the double dip recession we are currently in. However we are not alone, the same manufacturing slowdown is also happening in the US and China but no crumb of comfort can be gleaned from their economic woes. Global economies are so closely linked that what is bad for these global powerhouses is almost certainly going to impact negatively on the UK sooner or later.

Still the Olympics is a great diversion from the economy and the brief summer .