by Calculated Risk on 5/03/2005 05:18:00 PM

More bad news from Europe ... Times: "Economy shaken by worst fall in high street sales for 13 years".

A DOUBLE dose of bleak economic news fuelled fears for Britain’s prospects yesterday, casting a shadow over Labour’s final burst of pre-election campaigning.

High street sales suffered their steepest monthly drop for 13 years while manufacturing activity succumbed to its first decline in two years, according to two surveys. The much worse than expected figures dealt a twin blow to the Government’s hopes of trumpeting a strong economic outlook in the last phase of the election battle.

But there is some good news. Portugal's economy has rebounded from the 2004 recession and posted 1.1% annualized growth for Q1 2005.