The difficulty in figuring out if Britain’s economic performance is sluggish or worse depends on whether we are in search of clouds or inspired by silver linings.
For Rishi Sunak, returning to the domestic fray from the G20 in India, framing the case that he has been the great stabiliser of national performance has been the silvery part. Yet it is one that has grown harder to discern as borrowers and businesses feel the pain of surging interest rates. Sunak’s woes are exacerbated by strikes and a lacklustre summer in construction, retail and elsewhere. There is little bounce to speak of. The economy is limping to recovery — but the pace is grindingly slow.
