Leading economists have warmly welcomed the latest rise in retail sales, but caution that the rise is based on consumers spending more than they earn.
Real household disposable income is negative and going down, and this is basically telling you that people are definitely feeling the feel-good factor of the Help to Buy scheme pushing up house prices.
People are prepared to spend more than they earn. This is bad growth but I'd rather have bad growth than no growth.
More top news
A 14-year-old boy has said he has been added to a police database after sending a naked image of himself to a female classmate by Snapchat.
Britons are using social media to spread their message that those fleeing persecution are welcome in the UK.
Mel Gibson will not face any police action over an alleged scuffle with a Sydney photographer, the actor’s representative says.