The glass-half-full conundrum usually reflects a mixture of philosophy, perception and context.
For Britain’s trade figures, it could represent the difference between life and death for some businesses.
Brexiteers declared victory last week as data showed trade levels bounced back in February, edging towards normality after a record plunge in January. But the headline figures hid lasting pain for some exporters, and serious questions about the future of British trade with Europe.
Goods exports bounced back nearly 50pc compared to the previous month, recovering about half the ground lost during January’s plunge, but leaving a substantial chunk left to find.