Tuesday, May 13, 2008

Who to believe?

Surprising to find the (Eddie) Stobart Group so upbeat.

Stobart Group shrugged off fears of a UK recession yesterday and boasted that it was seeing record trading despite rising fuel costs.

. . . confident of strong profit growth over the next year despite the uncertain economic outlook.

Our business last week was the busiest week in the history of Eddie Stobart," he said (Andrew Tinkler, the chief executive). "I haven't seen any signs [of a UK recession] and neither have our customers, who are hitting their targets. Even the building [industry customers] are still hitting their forecasts. The sub-prime market really damaged the banks but [other] businesses are carrying on as normal.

Yet on the same day the Financial Times headlines "Mounting signs of economic slowdown."

Whatever are the humble poor to believe?

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