The NIESR thinktank has announced today that our economy has shrunk by 1 per cent in the last quarter.
We are seeing the evidence of this shrinkage with the mass closures and redundancies in retail, manufacturing and other sectors.
It is the chickens coming home to roost after eleven and a half years of Brownian (dis)economics.
Sadly, there will be worse to come as the sterling collapse and shoppers tightening their belts feeds through.
Thanks for nothing, Gordon.
Mountjoy