UK economic growth almost double the expected

[Berberis]

It has been released today that the UK's economic growth was 1.1% for the second quarter of the year (April-June). Will this sudden increase in economic growth silence the neigh says who have predicted doom and gloom for the UK economy under the control of the coalition government?

 

Probably not, but it does show a stark contrast compared to the last growth figures for the period, Jan - March, under a Labour government which saw a paltry 0.3% growth.

 

Ref: http://www.bbc.co.uk/news/business-10737352

[Blackbeard]

It has been released today that the UK's economic growth was 1.1% for the second quarter of the year (April-June). Will this sudden increase in economic growth silence the neigh says who have predicted doom and gloom for the UK economy under the control of the coalition government?

 

Probably not, but it does show a stark contrast compared to the last growth figures for the period, Jan - March, under a Labour government which saw a paltry 0.3% growth.

 

Ref: http://www.bbc.co.uk/news/business-10737352

 

Just check the dates, I think you will find that the "new" government only got in in May and have done very little to stimulate the market. If you look at the FTSE 100 you will see that the market fell when the "new" government got in and has still not quite recovered.

http://news.bbc.co.uk/news/business/market_data/stockmarket/3/three_month.stm

[Tomataheeed]

Whatever your political persuasion, the Tories can't take the credit for improved growth just a few weeks after coming into office. Everything that happens with the economy for the next few months...good and bad is down to Labour. I'm guessing, but it must take 12-18 months for government action to filter down to GDP figures....

[HeadingNorth]

Not to mention that this figure will be revised - upwards or downwards - at least twice before we know if it's accurate.

 

 

It might give the lie to anyone who was predicting that the new Tory/Liberal government would cause an instant and total economic meltdown, but it certainly does not prove that the new government is doing any good.

[Funky_Gibbon]

Just check the dates, I think you will find that the "new" government only got in in May and have done very little to stimulate the market. If you look at the FTSE 100 you will see that the market fell when the "new" government got in and has still not quite recovered.

http://news.bbc.co.uk/news/business/market_data/stockmarket/3/three_month.stm

 

Not to mention they didn't have their 'Emergency Budget' until the 22nd June. Trying to pretend these figures are due to the new government is laughable.

 

It might give the lie to anyone who was predicting that the new Tory/Liberal government would cause an instant and total economic meltdown, but it certainly does not prove that the new government is doing any good.

 

Right now we're still largely operating under the economic policies left by the last government. We won't know what effect the current governments policies will have until they come into effect. However 0.4% of the 1.1% growth figure comes from the construction industry and that isn't likely to improve once the cancellation of the school building programme is factored in in future quarters.

[HeadingNorth]

Right now we're still largely operating under the economic policies left by the last government. We won't know what effect the current governments policies will have until they come into effect.

 

 

Indeed. That was, basically, what I just said.

[Grandad.Malky]

It has been released today that the UK's economic growth was 1.1% for the second quarter of the year (April-June). Will this sudden increase in economic growth silence the neigh says who have predicted doom and gloom for the UK economy under the control of the coalition government?

 

 

 

:hihi::hihi:

 

 

They won’t have unpacked half their boxes in their offices yet and they have turned the economy around ………….. nice one.

[Alex C.]

Labour forecast in their March budget that the economy would grow 1.5% this year. If these figures aren't revised downwards, then we'd have to grow by just 0.1% for the remaining 6 months of the year to meet the forecast.

[Berberis]

Not to mention they didn't have their 'Emergency Budget' until the 22nd June. Trying to pretend these figures are due to the new government is laughable.

 

So you’re saying that the few Labour fans here did not predict a downturn in the economy the day after Labours defeat? Trying to ignore that fact is laughable.

[HeadingNorth]

So you’re saying that the few Labour fans here did not predict a downturn in the economy the day after Labours defeat? Trying to ignore that fact is laughable.

 

He is not claiming that nobody made that prediction. On the other hand, nor are you claiming that these figures are to the credit of the new government, so you are accusing each other of things that were not said.

 

 

These figures prove that the election of a (largely) Tory government does not lead to instant and total collapse. They prove nothing else, because the new government hasn't had time to have an effect on anything yet.