“..The great and good from the business world has lined up to say that the 0.7% drop in gross domestic product in the three months to June was a rogue number -
- and that the economy is actually not doing nearly that badly.
That is not the story painted by fresh figures out on Tuesday – that provide a snapshot of the economic position of households -
- which show an almighty squeeze on spending power caused by rising prices and weak wages growth..”
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