mj.scuba Posted October 26, 2010 Share Posted October 26, 2010 Blimey, watching the breakfast shows this morning, it was all doom and gloom with a significant drop in growth expected, so this is a nice surprise. http://www.telegraph.co.uk/finance/economics/8087030/UK-economy-grows-twice-as-fast-as-predicted.html Link to comment Share on other sites More sharing options...
ukdobby Posted October 26, 2010 Share Posted October 26, 2010 Too many people in this country are doom and gloom,get spending the economy will look after itself. Link to comment Share on other sites More sharing options...
Boblet Posted October 26, 2010 Share Posted October 26, 2010 I do like a positive spin on a bad news story - growth is down by a third but it's not as bad as we feared so therefore its good news Link to comment Share on other sites More sharing options...
truman Posted October 26, 2010 Share Posted October 26, 2010 I do like a positive spin on a bad news story - growth is down by a third but it's not as bad as we feared so therefore its good news It's a fair bit up on the same quarter last year and up 2.8% year on year.....is that bad news..? Link to comment Share on other sites More sharing options...
dell12 Posted October 26, 2010 Share Posted October 26, 2010 It's a fair bit up on the same quarter last year and up 2.8% year on year.....is that bad news..? But compared to last quarter it's down. In reality though there's absolutely no way we can judge the coalition on one months growth figures before the cuts have even started to bite. Link to comment Share on other sites More sharing options...
ukdobby Posted October 26, 2010 Share Posted October 26, 2010 But its still a positive,we have to keep the economy growing every 1/4,a growing economy=more jobs=less benefits,if we want to get the people off benefits and into jobs we need to create them. Yes we can't judge on 1 quarter but we're going in the right direction. Link to comment Share on other sites More sharing options...
Obelix Posted October 26, 2010 Share Posted October 26, 2010 But compared to last quarter it's down. In reality though there's absolutely no way we can judge the coalition on one months growth figures before the cuts have even started to bite. But you cannot compare on the last quarter you never have been able to - you always need compare like on like from the same one last year. Otherwise you don't allow for the skewing effect of things like Christmas, and summer holidays. Link to comment Share on other sites More sharing options...
Boblet Posted October 26, 2010 Share Posted October 26, 2010 It's a fair bit up on the same quarter last year and up 2.8% year on year.....is that bad news..? Not at all, and any growth is better than none. The point I was making was the emphasis on it being "twice as fast as predicted" as if this was good news The fact that it is better than pessimistic forecasts only shows that the forecasts were wrong (again) Whilst I accept that year on year is a better indicator than quarter on quarter, to compare it to last year is misleading in any event as we were in a recession this time last year - the fact that we are no longer in a recession is good news - the fact that the rate of growth is slowing is not (although not a surprise) Link to comment Share on other sites More sharing options...
dell12 Posted October 26, 2010 Share Posted October 26, 2010 But you cannot compare on the last quarter you never have been able to - you always need compare like on like from the same one last year. Otherwise you don't allow for the skewing effect of things like Christmas, and summer holidays. True, but net quarter on quarter growth to is also slowing. I.e. This years Q1 growth compared to Q1 in 2009> This years Q2 growth compared to Q2 in 2009 > This years Q3 growth compared to Q3 in 2009 Like I said though, it's probably a little early to judge. Link to comment Share on other sites More sharing options...
mj.scuba Posted October 26, 2010 Author Share Posted October 26, 2010 Not at all, and any growth is better than none. The point I was making was the emphasis on it being "twice as fast as predicted" as if this was good news The fact that it is better than pessimistic forecasts only shows that the forecasts were wrong (again) Whilst I accept that year on year is a better indicator than quarter on quarter, to compare it to last year is misleading in any event as we were in a recession this time last year - the fact that we are no longer in a recession is good news - the fact that the rate of growth is slowing is not (although not a surprise) It is good news isn't it? If the prediction was for the economy to grow at 0.4% over the quarter, then grows at 0.8% over the quarter, I'd say that is good news. Link to comment Share on other sites More sharing options...
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