The Green Shoots of Recovery: Number 53

Over the past 18 months, economic and political commentators have been searching, usually in vain, for the green shoots of recovery. But there was a tiny paragraph in today’s newspaper (March 10th) that perhaps really does indicate that confidence is returning.

Rolls Royce Motors, now owned by BMW, reported that they had sold 154 cars in the first 2 months of this year – 50 more than in the same period last year. I doubt whether this was caused by the car scrappage scheme.

When the rich feel comfortable about being ostentatious once more, then surely this is a sign that recession is over.

Or maybe it’s just the bankers spending their bonuses.