There was something for everyone in yesterday’s U.K. economic data. For those who argue the British economy is proving Brexit-proof, unemployment fell to 4.4 percent, its lowest level since 1975. The pound rose in response. “Despite the scaremongering of the Remain campaign, businesses have confidence in the U.K. economy and are continuing to take on new staff,” said Change Britain Chair Gisela Stuart. For those who argue the economy is buckling as Brexit nears, the squeeze on U.K. consumers continued into the second quarter with basic wages rising 2.1 percent, lagging behind inflation. Productivity also fell. “Instead of the land of milk and honey promised by Brexiteers, we’re seeing falling wages,” said Liberal Democrat leader Vince Cable. Retail sales statistics scheduled for release today will provide further insight into the state of the economy. The challenge for Prime Minister Theresa May will be to ensure ongoing voter support for Brexit even if wag...
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