Remind me, was there a big event at the start of that month? My memory is blurred. An election or something? A new political party in power, with a new economic strategy?

Something must have happened in July, because that was the point when the economy stopped going gangbusters, and hit stall speed instead.

In the first three months of the year the UK economy outpaced the rest of Europe, growing 0.7%. It added another 0.5% growth in the three months to June 30.

Then in July the fun stopped. The…