The ONS produced one other set of dismal GDP outcomes for the UK this morning, the headline being that there is no such thing as a development.

This was the abstract chart:

If GDP is your barometer of well-being then this isn’t excellent news.

The messaging inside the report shouldn’t be good both. Take this:

Not solely is the pretence that Covid is of any consequence any extra not directly severely harming GDP. Really failing to handle it’s also doing so.

Then there’s this:

All manufacturing output is falling (which good, however unplanned, information for the inexperienced agenda) excepting sewage, the place the quantity being charged for what may politely be referred to as doing a shit job goes up.

Lastly, there’s this:

Non-consumer going through providers are up. Those who individuals really went are nonetheless closely down. Retail and brewing are doing OK. Journey, holidays, automobile and motor cycle gross sales aren’t. In different phrases, persons are looking for brief time period solace for greater woes.

That just about summarises the UK financial system proper now.