I’ve found BBC website coverage of recent economic news very disappointing.
17/08/16: UK unemployment drops 8,600 in July (rise of 9,500 predicted).
BBC website article has subheading: ‘Brexit labour market toll’, and quotes “heightened uncertainty will take a toll on the labour market over the coming months”.
18/08/16: UK retail sales increase beats estimates at 1.4% in July (0.2% predicted).
BBC website article headline: ‘Warm weather lifts retail sales in July’. Under subheading ‘Blissful ignorance’, about the aftermath of Brexit: ‘Samuel Tombs, chief UK economist for Pantheon Macroeconomics said that “consumers’ blissful ignorance won’t last long”.’
The above are in stark contrast to the website’s doom-laden coverage of July’s weak PMI data, which measures sentiment of hiring managers (many of whom are likely to have been aligned against Brexit), and the fall in the pound (which many economists have argued will be positive for the UK).
Almost all of the actual economic data produced since June 23rd has been positive beyond expectations, but the BBC has attributed this success to everything but Brexit. If it keeps raining and retail sales disappoint in August, will the BBC attribute this to bad weather, or Brexit?