Tuesday, 12 June 2012

Even these clouds have a silver lining

Like many people I’m not finding the hose pipe ban too hard to live with.  My previous attempts at hosing away puddles have generally proved fruitless anyway.

The dismal weather we have been experiencing has been shared by our European cousins with the French Open final interrupted by bad weather.
But to avoid conforming to national stereotypes by complaining about the weather, consider the silver lining. Much of Europe has returned to a brief or enduring period of recession and yet French industrial production, which itself is a good indicator of GDP, rose 1.5% year-on-year (rather than declining as expected).  The poor French weather, experienced first hand during a recent sojourn, has meant greater expenditure on energy and specifically heating. 
Source: Datastream/Brewin Dolphin
It is tempting to think that French weather is bad enough to boost growth, then the UK’s should inspire a major economic revival!

Guy Foster
Head of Portfolio Strategy

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