Commentary
There has been prejudice against the European economy. Previously we have discussed the unreasonably bearish outlook on it compared to the rest of the world, such as the U.S. and especially China. Such prejudice is not exactly fake news but is shaped by popular biased views or outlooks, especially by so-called experts. These are not fact-based, and one can easily refute them with data. Another kind of prejudice is on the UK compared to the rest of Europe, where the popular mass tends again to be bearish on it.
No doubt Brexit affects some sectors and affects them seriously. Even though a decent portion of businesses is affected, it does not mean the overall economy would be affected similarly because these sectors might not take up a large share of high growth contribution to total output. Media tends to magnify stories, especially interesting ones. However touching the stories are, it does not mean they are representative. And this is why we need to analyze the boring data. Only the top-down data can tell comprehensive stories but not the bottom-up fragmented pieces….