Well done Smarmy Dave and Lapdog for bringing the economy to a halt.

[wednesday1]

Yet move evidence that the ConDems policies are not working:

 

UK recession fears grow as output weakensBy Peter Griffiths | Reuters – 32 minutes agotweet3EmailPrintRelated ContentEnlarge PhotoA city worker casts a shadow in London's financial district

LONDON (Reuters) - The economy risks slipping back into recession after barely growing in the third quarter, a business group said on Tuesday, as data showed that manufacturers are running out of steam.

 

The British Chambers of Commerce (BCC), which represents companies employing one in six UK workers, said the Bank of England's latest asset purchase programme may not be enough to avert a double-dip recession.

 

The business group estimated that the economy grew between 0.1 percent and 0.3 percent in the third quarter, and it warned that the downside risks were growing due to the euro zone debt crisis and worries about global demand.

 

"We can avoid a recession, but this relies on the government making some tough policy choices," said BCC Director General John Longworth. "The survey shows the real risks facing the economy and the need for the government to act now."

 

Separate estimates from an independent think tank were a bit more upbeat, suggesting the economy grew by 0.5 percent in the quarter through September.

 

However, the National Institute of Economic and Social Research (NIESR) said in its monthly estimate that the recovery from a deep recession that ended in 2009 was the weakest since World War One.

 

Britain's finance ministry said the NIESR report showed that the economy was continuing to grow, although the recovery would not be smooth.

 

"Other data published today similarly shows that the economy is recovering but that the financial turbulence in the euro zone and the weaker outlook for global growth will mean that the recovery will be choppy," it said in a statement.

 

Despite record low interest rates of 0.5 percent, Britain's economy has stagnated for nearly a year. Inflation of nearly 5 percent is squeezing people's living standards as wages rise slowly and unemployment has started to increase again.

 

"We're facing one of the toughest trading conditions this country has seen for decades," Phil Clarke, head of the country's biggest retailer Tesco said.

 

The government is cutting public spending to erase a budget deficit that peaked at nearly 11 percent of output and has little scope for tax cuts or extra spending to boost growth.

 

The Institute for Fiscal Studies said on Tuesday that the median income in Britain was expected to fall by 7 percent in real terms between 2010 and 2013, the largest three-year drop for 35 years.

 

That would push an extra 600,000 children and 800,000 adults into poverty, the think tank said in a report.

 

'GROWING SENSE OF GLOOM'

 

The Labour Party accuses the coalition of choking growth by doggedly sticking to its original austerity drive. There are question marks over how effective the central bank will be with its second round of quantitative easing to pump money into the economy.

 

"The latest numbers add to a growing sense of gloom about the health of the UK economy in the third quarter," said Chris Williamson, chief economist at Markit. "There is a substantial risk that the economy could fall back into contraction in the fourth quarter."

 

The results from the BCC survey of more than 6,000 companies mean the BCC is likely to revise down its growth forecasts for 2011 and 2012, the group's Chief Economist David Kern said.

 

"In September, my forecast was for 1.1 percent year-on-year (growth) for 2011. On the basis of what I know now, the figure would be 0.9 percent," Kern said.

 

Separate official figures showed British manufacturing output grew at its slowest pace for 18 months in the year to August, dampening government hopes that exports will help to kick start the faltering economy.

 

A big monthly rise in output from the volatile oil and gas sector lifted the broader industrial output measure, though it did little to change the overall downward trend.

 

There was also a surprise pick-up in retail sales in September, according to a survey by the British Retail Consortium (BRC). The trade body said like-for-like retail sales values were 0.3 percent higher compared to September 2010, beating forecasts for a 1 percent fall.

 

However, BRC Director General Stephen Robertson said that spending growth was below inflation, meaning customers are buying less than this time last year. "Underlying conditions remained weak," he added.

 

Economists said the official data and surveys pointed to a gloomy outlook, with consumer spending held back by squeezed household finances and exporters facing strong headwinds.

 

"All in all, it seems increasingly likely that the manufacturing and consumer sectors of the economy contracted in the third quarter," said Samuel Tombs, of Capital Economics.

 

"As a result, the risks of a renewed recession in the wider economy still appear to be growing."

 

(Additional reporting by Sven Egenter, David Milliken and Fiona Shaikh; Editing by Hugh Lawson)

http://uk.news.yahoo.com/uk-recession-fears-grow-output-weakens-123027165.html

[rickiethecat]

Yet move evidence that the ConDems policies are not working:

 

UK recession fears grow as output weakensBy Peter Griffiths | Reuters – 32 minutes agotweet3EmailPrintRelated ContentEnlarge PhotoA city worker casts a shadow in London's financial district

LONDON (Reuters) - The economy risks slipping back into recession after barely growing in the third quarter, a business group said on Tuesday, as data showed that manufacturers are running out of steam.

 

The British Chambers of Commerce (BCC), which represents companies employing one in six UK workers, said the Bank of England's latest asset purchase programme may not be enough to avert a double-dip recession.

 

The business group estimated that the economy grew between 0.1 percent and 0.3 percent in the third quarter, and it warned that the downside risks were growing due to the euro zone debt crisis and worries about global demand.

 

"We can avoid a recession, but this relies on the government making some tough policy choices," said BCC Director General John Longworth. "The survey shows the real risks facing the economy and the need for the government to act now."

 

Separate estimates from an independent think tank were a bit more upbeat, suggesting the economy grew by 0.5 percent in the quarter through September.

 

However, the National Institute of Economic and Social Research (NIESR) said in its monthly estimate that the recovery from a deep recession that ended in 2009 was the weakest since World War One.

 

Britain's finance ministry said the NIESR report showed that the economy was continuing to grow, although the recovery would not be smooth.

 

"Other data published today similarly shows that the economy is recovering but that the financial turbulence in the euro zone and the weaker outlook for global growth will mean that the recovery will be choppy," it said in a statement.

 

Despite record low interest rates of 0.5 percent, Britain's economy has stagnated for nearly a year. Inflation of nearly 5 percent is squeezing people's living standards as wages rise slowly and unemployment has started to increase again.

 

"We're facing one of the toughest trading conditions this country has seen for decades," Phil Clarke, head of the country's biggest retailer Tesco said.

 

The government is cutting public spending to erase a budget deficit that peaked at nearly 11 percent of output and has little scope for tax cuts or extra spending to boost growth.

 

The Institute for Fiscal Studies said on Tuesday that the median income in Britain was expected to fall by 7 percent in real terms between 2010 and 2013, the largest three-year drop for 35 years.

 

That would push an extra 600,000 children and 800,000 adults into poverty, the think tank said in a report.

 

'GROWING SENSE OF GLOOM'

 

The Labour Party accuses the coalition of choking growth by doggedly sticking to its original austerity drive. There are question marks over how effective the central bank will be with its second round of quantitative easing to pump money into the economy.

 

"The latest numbers add to a growing sense of gloom about the health of the UK economy in the third quarter," said Chris Williamson, chief economist at Markit. "There is a substantial risk that the economy could fall back into contraction in the fourth quarter."

 

The results from the BCC survey of more than 6,000 companies mean the BCC is likely to revise down its growth forecasts for 2011 and 2012, the group's Chief Economist David Kern said.

 

"In September, my forecast was for 1.1 percent year-on-year (growth) for 2011. On the basis of what I know now, the figure would be 0.9 percent," Kern said.

 

Separate official figures showed British manufacturing output grew at its slowest pace for 18 months in the year to August, dampening government hopes that exports will help to kick start the faltering economy.

 

A big monthly rise in output from the volatile oil and gas sector lifted the broader industrial output measure, though it did little to change the overall downward trend.

 

There was also a surprise pick-up in retail sales in September, according to a survey by the British Retail Consortium (BRC). The trade body said like-for-like retail sales values were 0.3 percent higher compared to September 2010, beating forecasts for a 1 percent fall.

 

However, BRC Director General Stephen Robertson said that spending growth was below inflation, meaning customers are buying less than this time last year. "Underlying conditions remained weak," he added.

 

Economists said the official data and surveys pointed to a gloomy outlook, with consumer spending held back by squeezed household finances and exporters facing strong headwinds.

 

"All in all, it seems increasingly likely that the manufacturing and consumer sectors of the economy contracted in the third quarter," said Samuel Tombs, of Capital Economics.

 

"As a result, the risks of a renewed recession in the wider economy still appear to be growing."

 

(Additional reporting by Sven Egenter, David Milliken and Fiona Shaikh; Editing by Hugh Lawson)

http://uk.news.yahoo.com/uk-recession-fears-grow-output-weakens-123027165.html

 

Have you considered logging off the internet occasionally and perhaps finding a few friends or something? Perhaps even going outdoors every now and then?

[Mecky]

Something bad is going to happen

[wednesday1]

Have you considered logging off the internet occasionally and perhaps finding a few friends or something? Perhaps even going outdoors every now and then?

.

 

 

 

Don't worry mate, I very much live in the real world.

[Big time]

Most of the above(post 62) is a load of hot air.

 

When the money's ran out because you've spent too much, the first thing anyone sensible does is STOP SPENDING and tighten your belt, which is what this government is doing; this along with all the needless red tape bogging down entrepreneurialism getting done away with, the only way is up.

 

Why should we trust a Labour party, with all its age old anti-enterprise instincts with the economy?

[rickiethecat]

.

 

 

 

Don't worry mate, I very much live in the real world.

 

So what would be your alternative to how our government is managing the economy? We're still waiting for David Milliband to come up with some ideas, aren't we?

[Mecky]

Most of the above(post 62) is a load of hot air.

 

When the money's ran out because you've spent too much, the first thing anyone sensible does is STOP SPENDING and tighten your belt, which is what this government is doing; this along with all the needless red tape bogging down entrepreneurialism getting done away with, the only way is up.

 

Why should we trust a Labour party, with all its age old anti-enterprise instincts with the economy?

 

The economic crisis is not due to overspending as well documented by economists and the media, that's just a label attached to the current situation for political point scoring and to try and justify cuts.

[wednesday1]

So what would be your alternative to how our government is managing the economy? We're still waiting for David Milliband to come up with some ideas, aren't we?

 

 

We WERE coming strongly out iof recession thankyou, until the ConDems choked off the economic growth for their own political ends, ie exaggerating the issues of debt we have, so that they could set about on their holy grail of privatisation and reducing the size of the public sector.

 

Cameron hasn't got a clue what he's doing. Look at how he had to change his speech last week after he initially urged people to pay off their debts, without realising the effect that would have on the general economy.

Yes of course it makes sense if people have have got themselves overburdened with debt, to pay off their credit cards but the way he said may well have sent out the wrong message to the wider economy, which his advisers obviously thought also which is why he changed it!

[MrSmith]

Something bad is going to happen

 

The crap was always going to hit the fan when our economy relies on perpetual growth fuelled by dept, but it was obvious in 2004/5 that we were heading for a bust.

[Obelix]

The economic crisis is not due to overspending as well documented by economists and the media, that's just a label attached to the current situation for political point scoring and to try and justify cuts.

 

You only need two words to justify the spending reductions.

 

Labour's profligacy.

 

Remember - Labour were the ones that left a note saying "there's no money left".