Samuel Fuller, director of Financial Markets Online, says the market reaction shows that expectations for the UK economy have fallen rather low:
“Seldom has stagnation seemed like such an achievement.
“Despite sharp falls in both manufacturing and construction output, Britain’s vast service sector has ridden to the rescue once more – dragging the net position up to zero.
“As a result, the jury remains out on whether the UK is about to enter a recession. The prospect is perilously close but not yet inevitable.