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More positive signs - I don't want to suggest green shoots yet!

At the same time that we have reports that the country is in recession we hear today that the government finances show a large surplus last month

The surplus - the difference between spending and tax income - rose to £16.7bn in January, Source: Office for National Statistics (ONS)

The ONS said the surplus was the result of higher tax receipts and lower spending.

Higher tax receipts suggests that the economy is stronger than the government expected which is another positive bit of news for the week.

Inflation was down to 4% from 11% and governor of the Bank of England suggested this week that there were already "distinct signs of an upturn".

The Consumer Confidence index for the UK also showed another month on month improvement with the highest consumer confidence seen for over a year.

It’s so pleasant to hear good news for a change.


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