Over the period we have heard that Consumer Prices Index (CPI) inflation has dropped to 2.4 per cent, the closest it has been to the government target of 2 per cent since 2009, that unemployment has reduced by 8.27 per cent to the lowest level since mid-2011, and that retail sales volumes on British high streets are up 1.6 per cent in June 2012 as compared to June 2011.
Yet despite these figures appearing positive and suggesting the potential for shoots of growth to finally emerge from the dormant UK economy, the figure of -0.7 per cent GDP decline for the second quarter of this year (down from -0.4 per cent in the last quarter of 2011 and -0.3 per cent in the first quarter of 2012) shows they are still some way from baring any significant economic fruit.
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