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Where is Britains recovery
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//UK recession eased more than first thought
The UK economy came slightly closer to pulling out of recession in the third quarter than first estimated, new figures showed today.
Speaking ahead of the figures, Andrew Sentance, a member of the Bank of England's Monetary Policy Committee, told BBC radio said there were signs that the British economy has returned to growth in the second half of the year.
He pointed to progress in the global economy, better news from the labour market, a pick up in business services and improving indicators of spending including retail sales.//
http://www.telegraph....an-first-thought.html
The UK economy came slightly closer to pulling out of recession in the third quarter than first estimated, new figures showed today.
Speaking ahead of the figures, Andrew Sentance, a member of the Bank of England's Monetary Policy Committee, told BBC radio said there were signs that the British economy has returned to growth in the second half of the year.
He pointed to progress in the global economy, better news from the labour market, a pick up in business services and improving indicators of spending including retail sales.//
http://www.telegraph....an-first-thought.html
When the only growth is the '£' shops our devalued currency is having to buy less goods for the same price as before, our manufacuring base still reclining, trying to compete with other countries using the Euro (now a strong currency) and policians that have been bleeding us dry, the lifeboats have been set adrift and its every man for himself.
FTAO rov1200:
//our manufacuring base still reclining, trying to compete with other countries using the Euro//
Britain’s manufacturing sector expanded unexpectedly last month and at the fastest rate in two years as the weak pound made exports cheaper and imports more expensive, according to new data.
http://business.times...cs/article6900059.ece
//our manufacuring base still reclining, trying to compete with other countries using the Euro//
Britain’s manufacturing sector expanded unexpectedly last month and at the fastest rate in two years as the weak pound made exports cheaper and imports more expensive, according to new data.
http://business.times...cs/article6900059.ece
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Gordon Brown said that "UK would be the last to go in to recession and the first to come out" We, the UK are still in recession........he was wrong.
Gordon Brown said that the UK was the best placed financially to "ride " the recession, the IMF said that we were the worst country to combat, financially the recession.
Gordon Brown or IMF?
Gordon Brown said that "UK would be the last to go in to recession and the first to come out" We, the UK are still in recession........he was wrong.
Gordon Brown said that the UK was the best placed financially to "ride " the recession, the IMF said that we were the worst country to combat, financially the recession.
Gordon Brown or IMF?
The IMF have an even worse record
I recall last year they predicted Germany would not go into recession - days before Germany announced negative growth.
The fact of the matter is that economies are pretty difficult to predict - particularly when there is a lot of change going on as it is at the moment - economists come up with forecasts you pick the one that supports your particular political viewpoint.
I'd be somewhat surprised if Cameron and Brown agreed on economic forecasts wouldn't you?
But the real point is what is the best policy for dealing with a struggling economy.
Ozzy seem to want to stick his head in the sand and have massive cuts immediately when the economy is stilll taking faltering steps into the black.
I can think of nothing that would more guarantee returning the country into a lethal double dip recession
Can you?
I recall last year they predicted Germany would not go into recession - days before Germany announced negative growth.
The fact of the matter is that economies are pretty difficult to predict - particularly when there is a lot of change going on as it is at the moment - economists come up with forecasts you pick the one that supports your particular political viewpoint.
I'd be somewhat surprised if Cameron and Brown agreed on economic forecasts wouldn't you?
But the real point is what is the best policy for dealing with a struggling economy.
Ozzy seem to want to stick his head in the sand and have massive cuts immediately when the economy is stilll taking faltering steps into the black.
I can think of nothing that would more guarantee returning the country into a lethal double dip recession
Can you?
sqad
//Gordon Brown said that "UK would be the last to go in to recession and the first to come out" //
I have searched and cannot find anywhere, Gordon Brown saying that. If you can find the quote I will happy accept it.
He did say something similar : That "Britain would lead the world out of the downturn." Seeing as virtually every other country followed our lead with a stimulus package, then he was probably right. The fact that the UK suffered more because our economy relies on Financial Services more than our neighbours means we are recovering from a far worse position than them.
//Gordon Brown said that "UK would be the last to go in to recession and the first to come out" //
I have searched and cannot find anywhere, Gordon Brown saying that. If you can find the quote I will happy accept it.
He did say something similar : That "Britain would lead the world out of the downturn." Seeing as virtually every other country followed our lead with a stimulus package, then he was probably right. The fact that the UK suffered more because our economy relies on Financial Services more than our neighbours means we are recovering from a far worse position than them.
What many don't seem to realise is that by cheapening your currency by devalueing it you need goods that are exportable and other countries wish to buy. But that was the past when we had a manufacturing industry especially cars. This has been proven by our export figures. The British public have to pay for this as many normal household things need to be imported. Just like the banks the British consumer is having to pay to keep what is left in our industries.
China became a strong nation because their people existed on meagre wages so the goods were so cheap to buy. The two go together but are you asking for the British worker to live on subsistence wages?
China became a strong nation because their people existed on meagre wages so the goods were so cheap to buy. The two go together but are you asking for the British worker to live on subsistence wages?
rov1200
You seem to believe that the £ has been devalued. It hasn't. The last it was devalued was by the Labour Government in 1967.
The situation now is entirely different. Our currency has less value now because on the currency exchanges, buyer see it as a poor risk when compared to the Euro. So the € gains in value and the £ loses value. Which at the end of the day means our imports are dearer, and our exports are cheaper. The problem with dearer imports is that makes inflation rise.
You seem to believe we do not export anymore. 2007 exports were valued at £220bn.
You seem to believe that the £ has been devalued. It hasn't. The last it was devalued was by the Labour Government in 1967.
The situation now is entirely different. Our currency has less value now because on the currency exchanges, buyer see it as a poor risk when compared to the Euro. So the € gains in value and the £ loses value. Which at the end of the day means our imports are dearer, and our exports are cheaper. The problem with dearer imports is that makes inflation rise.
You seem to believe we do not export anymore. 2007 exports were valued at £220bn.
rov1200
Revised national output figures showed that the economy contracted by 0.3 per cent between July and September, above initial estimates of a 0.4 per cent decline in the third quarter.
Today's slightly higher reading is in line with their forecasts, but some analysts said that the data could eventually be revised up much more.
The ONS will publish more detailed gross domestic product (GDP) figures next month, when it could revise the headline rate again.
http://business.times...cs/article6930971.ece
Revised national output figures showed that the economy contracted by 0.3 per cent between July and September, above initial estimates of a 0.4 per cent decline in the third quarter.
Today's slightly higher reading is in line with their forecasts, but some analysts said that the data could eventually be revised up much more.
The ONS will publish more detailed gross domestic product (GDP) figures next month, when it could revise the headline rate again.
http://business.times...cs/article6930971.ece
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