If investors are fleeing to gold this is not the time to be smug

It came as no great surprise that the UK economy contracted by 0.2 per cent in the second quarter, following a first quarter in which growth had been artificially boosted to 0.5 per cent by stockpiling ahead of the original 29 March Brexit deadline. It’s fair to claim, as our editorial did two weeks ago, that the UK has performed better than expected for the past three years — particularly in terms of job numbers, which rose again in April to June despite the growth setback.