No double dip for the UK

Finally, some great news, the economy is stabilising. It's by no means clear what the future holds thanks to the eye watering deficit run up by the previous government (3rd worst in Europe after Ireland and Greece) but it's a start.

From GFS

"The UK economy has avoided a double dip recession as figures released today show that the country's economy grew by 0.5 per cent in the first quarter of 2011."

It's still plenty tough for lots of us as individuals and families but without the national picture looking up it will be a whole lot worse.

Tories coming good.

As of 9:30 this morning, the construction industry announced that it was in recession again. The spokesman for the industry said this was because that the shortfall in work in the public sector has not been made up by the private sector.

Yeah, well done, Cameron.

Noticed Cameron getting a right hammering during PM's Questions, and rightly so, as he's still blaming Labour and he's been in power a year now, so it's wearing a bit thin.

Tories coming good.

And how many people are losing their jobs and houses.?

Finally, some great news, the economy is stabilising. It's by no means clear what the future holds thanks to the eye watering deficit run up by the previous government (3rd worst in Europe after Ireland and Greece) but it's a start.

 

From GFS

 

 

It's still plenty tough for lots of us as individuals and families but without the national picture looking up it will be a whole lot worse.

Didn't the Tory faction of the LibLabCon Party undertake to follow the Lab factions spending plans until the Bankers did our legs?

Construction industry getting even worse.

Clutching at straws spring to mind.

Finally, some great news, the economy is stabilising. It's by no means clear what the future holds thanks to the eye watering deficit run up by the previous government (3rd worst in Europe after Ireland and Greece) but it's a start.

 

From GFS

 

 

It's still plenty tough for lots of us as individuals and families but without the national picture looking up it will be a whole lot worse.

Did you start a thread and herald this, when Labour acheived it?

Growth has been stifled under the Tories, and unemployment has grown.

Abstracting from the snow

We have an economy

On a plateau

 

That’s the (Haiku-ised) verdict of Joe Grice, chief economist of the Office of National Statistics, on Wednesday’s UK GDP release.

 

Down 0.5 per cent one quarter, up 0.5 per cent the next – data from Reuters

 

Plateau isn’t the word we would use of course.

 

More stagnation, flat-lining, stalling in mid-air, that kind of thing. The ONS also called growth in Q1 2011 ‘essentially an arithmetic effect’ which seems even more devastating.

 

There’s no snow to hide behind this time either.

http://ftalphaville.ft.com/blog/2011/04/27/554476/putting-the-stag-in-stagflation/

It is a good job public sector growth helped these figures along, because they have fallen short of the 0.8% the OBR were predicting, that can't be relied upon next quarter. Indeed it is starting quarter 2 the cuts in public sector will start to put a dampener on the economy.

http://www.touchstoneblog.org.uk/2011/04/gdp-no-cause-for-bank-to-raise-interest-rates/

Stagnant growth for the last 2 quarters is not the time to be making cuts that will damage the economy. It will only make the pain of the austerity measures worse than it should be.

http://ftalphaville.ft.com/blog/2011/04/27/554476/putting-the-stag-in-stagflation/

 

...

 

http://www.touchstoneblog.org.uk/2011/04/gdp-no-cause-for-bank-to-raise-interest-rates/

You never did explain how an economy with an infinite number of jobs had to suffer huge unemployment !