It's over!!!
26 January 2010, 09:45 AM
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It's over!!!
The recession that is according to early figures published today. In Q4 we grew by 0.1%
Only another 5.9% to go then to catch up to where we were!
Only another 5.9% to go then to catch up to where we were!
26 January 2010, 10:02 AM
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Of course Christmas had nothing to do with these figures of a massive 0.1% increase 
Now everyone has spent the little cash they had especially in trying to beat the VAT rise they really believe growth will continue in the first half of this year?
The recession will be over when unemployment significantly falls, employers start giving pay rises and or bonuses and people have more money in their pockets. I don't see that happening any time soon.
Now everyone has spent the little cash they had especially in trying to beat the VAT rise they really believe growth will continue in the first half of this year?The recession will be over when unemployment significantly falls, employers start giving pay rises and or bonuses and people have more money in their pockets. I don't see that happening any time soon.
26 January 2010, 10:29 AM
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... and then we've got Flash and his cronies *bigging* things up in an attempt to get re-elected. When the GE is over things will go down-hill, IMHO, as the incoming government has to put right the cr*p that Gordon has put us into ...
Example, the bank bonus tax is expected to deliver a couple of billion more than they thought. darling wants to do the sensible thing and pay off debt. Gordon says 'not necessarily'. In other words, 'let's use for a pre-election bribe' ....
Oh, and from ... http://news.bbc.co.uk/1/hi/business/8479639.stm
"... Our correspondent said the move out of recession had been greatly boosted by the government car scrappage scheme ..."
Plus this supposed 0.1% comes on top of the £200 Billion pumped into the economy. Wow. 'My government spent £200 Billion and all I got was a lousy 0.1%'. You couldn't make it up! Well, you could if there was an election coming ....
Dave
Last edited by hutton_d; 26 January 2010 at 10:34 AM. Reason: More cr*p added .....
26 January 2010, 10:49 AM
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I couldn't agree more, the scrappage scheme was purely to help massage industry figures before the election.As you say any attempt at a recovery now will be very short lasting once Brown's mess starts being cleared up and everyone has to pay back his enormous debt.
26 January 2010, 10:56 AM
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Although with the margin of error - the full figures for Q3 show we were probably out of recession then.
And Bravo - whilst you paint a lovely picture for when we are out of recession, that is not the technical definition. Pay rises, bonuses and falls in unemployment are not measures of recession and normally follow some time after recession ends.
However unemployment has taken a surprise fall, bonuses are being paid, can't really comment on pay rises.
And Bravo - whilst you paint a lovely picture for when we are out of recession, that is not the technical definition. Pay rises, bonuses and falls in unemployment are not measures of recession and normally follow some time after recession ends.
However unemployment has taken a surprise fall, bonuses are being paid, can't really comment on pay rises.
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26 January 2010, 11:11 AM
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Encouraging to see a plus figure for once. we shall have to see if it continues to grow!
There is no room for any bonus payments in the country's present appalling state with the economy.
I think that Flash is falling out of step with the whole of NL or whats left of the Labour Party!
Les
There is no room for any bonus payments in the country's present appalling state with the economy.
I think that Flash is falling out of step with the whole of NL or whats left of the Labour Party!
Les
26 January 2010, 11:14 AM
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+0.1% !!!
Gee-whizz. That's barely measurable and far lower than the so-called experts were forecasting (generally +0.4 to +0.5% was being banded about). Once again they got it wrong, like they did for the previous Quarter. Can't help thinking that they fall for the force-fed Govt spin rather than monitor what is actually happening.
So at this rate we should be back to where we started from in about 10-15 years time! That's a rather glacial recovery by any standards.
Anyway the Govt must really thank my in-laws for scrapping their old bannger for a new car late last year. That single transaction was probably the difference between the UK staying in recession and coming out of recession.
Gee-whizz. That's barely measurable and far lower than the so-called experts were forecasting (generally +0.4 to +0.5% was being banded about). Once again they got it wrong, like they did for the previous Quarter. Can't help thinking that they fall for the force-fed Govt spin rather than monitor what is actually happening.
So at this rate we should be back to where we started from in about 10-15 years time!
That's a rather glacial recovery by any standards.Anyway the Govt must really thank my in-laws for scrapping their old bannger for a new car late last year. That single transaction was probably the difference between the UK staying in recession and coming out of recession.
26 January 2010, 11:14 AM
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Trout, bonuses and pay rises might be prevalent in the banking sector still but i'm talking across all industry, not just the greedy bankers oh and be more than just inflationary.
I never said that was the definition of coming out of a recession but it's simple economics that people need more money in their pockets to go out and spend if the economy is to recover. More money either comes from employers paying more or back to the banks lending more neither of which seem likely at the moment.
Interest rates for loans at the moment are still at around 8% for £7.5k and above and 9%+ for anything under £7.5k and that is even if you get those rates which you need an outstanding credit rating for. Those are expensive rates and I remember borrowing at 5% for only £5k a few years ago. I enquired recently about a loan to test the water and I have a good credit rating and the rate being quoted was 8% but when it came to giving me the figures they were charging 14%. I told them no thanks it was cheaper to use my credit card
I never said that was the definition of coming out of a recession but it's simple economics that people need more money in their pockets to go out and spend if the economy is to recover. More money either comes from employers paying more or back to the banks lending more neither of which seem likely at the moment.
Interest rates for loans at the moment are still at around 8% for £7.5k and above and 9%+ for anything under £7.5k and that is even if you get those rates which you need an outstanding credit rating for. Those are expensive rates and I remember borrowing at 5% for only £5k a few years ago. I enquired recently about a loan to test the water and I have a good credit rating and the rate being quoted was 8% but when it came to giving me the figures they were charging 14%. I told them no thanks it was cheaper to use my credit card
26 January 2010, 12:34 PM
#11
Well! Who'd ha' guessed it?
Out of recession by 0.1% ........JUST before any election
Nothing but good news over the last week or so too:rolleyes;
Except for the increase in terror levels that successfully buried the announcement of "hiding" the evidence from the Kelly enquiry for 70 years
Is there ANYTHING these lot will not do to cling on to power?
Out of recession by 0.1% ........JUST before any election
Nothing but good news over the last week or so too:rolleyes;
Except for the increase in terror levels that successfully buried the announcement of "hiding" the evidence from the Kelly enquiry for 70 years
Is there ANYTHING these lot will not do to cling on to power?
26 January 2010, 12:42 PM
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Excellent news ... unemployment down too ... inflation tweaking up, showing retailers are confident in increasing prices.
The last Quarter we were out of recession, in truth.
Whether you like it, or not, the current Government have turned the economy around ... from the worst crisis in history - they won't get it, but they deserve more than a little credit.
The last Quarter we were out of recession, in truth.
Whether you like it, or not, the current Government have turned the economy around ... from the worst crisis in history - they won't get it, but they deserve more than a little credit.
26 January 2010, 12:49 PM
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Retailing bonuses for some are the highest ever especially now we have lost a lot of deadwood in the High Street.
26 January 2010, 01:32 PM
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Excellent news ... unemployment down too ... inflation tweaking up, showing retailers are confident in increasing prices.
The last Quarter we were out of recession, in truth.
Whether you like it, or not, the current Government have turned the economy around ... from the worst crisis in history - they won't get it, but they deserve more than a little credit.
The last Quarter we were out of recession, in truth.
Whether you like it, or not, the current Government have turned the economy around ... from the worst crisis in history - they won't get it, but they deserve more than a little credit.
Last edited by dpb; 26 January 2010 at 02:04 PM.
26 January 2010, 02:00 PM
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Excellent news ... unemployment down too ... inflation tweaking up, showing retailers are confident in increasing prices.
The last Quarter we were out of recession, in truth.
Whether you like it, or not, the current Government have turned the economy around ... from the worst crisis in history - they won't get it, but they deserve more than a little credit.
The last Quarter we were out of recession, in truth.
Whether you like it, or not, the current Government have turned the economy around ... from the worst crisis in history - they won't get it, but they deserve more than a little credit.
How can you possible say the the economy is turned round on those figures with £1.5 Trillion national debt plus the PFI debts, and £2 billion of printed and non backed money in the system?
Tell your grandchildren about that! Its their debt.
Les
