I have been keeping my eye on movements in the British data to see if there is any discernable effects yet of the June 2016 Brexit outcome. The latest investment data certainly doesn’t suggest anything is going on yet. The British Office of National Statistics (ONS) reported (May 25, 2017) – that total investment spending in real terms grew by 1.2 per cent in the March-quarter 2017 and over the 12 months by 2.2 per cent. Business investment was strong. This is investment in long-term productive infrastructure. It might be argued that this spending was already decided upon some time ago so the Brexit vote may not yet have impacted. We will see about that. The latest labour market data is also positive and that is what I have been looking at for a part of today.