Reckless May brings no-deal Brexit into focus

UK labour market data for January showed an extremely strong jobs market that month with employment expanding at an annual rate of 1.5%, which is the strongest growth rate in two years.

This seems to fly in the face of a recent downbeat narrative on real activity in the British economy. This downbeat narrative is primarily driven by clear evidence of paralysis in business investment activity and, of course, the ongoing decline in London property prices and weak new car sales.