UK economic growth rises to 0.5%

[WeX]

I just thought I would spread the good news and contradict all the doom and gloom.

 

http://www.bbc.co.uk/news/business-15535518

 

The UK economy is growing again it would seem.

[emma royd]

I just thought I would spread the good news and contradict all the doom and gloom.

 

http://www.bbc.co.uk/news/business-15535518

 

The UK economy is growing again it would seem.

 

It is very good news indeed and in sharp contrast to the news from Italy where they failed to put a cap on borrowing and as a result repayment interest has spiralled to over 6%

[L00b]

The UK economy is growing again it would seem.

But the growth spurt is -reportedly- mostly down to services, particularly the financial sector.

 

It'd be more comforting still, if it was mostly down to manufacturing and/or hi-tech instead (and I'm not partisan, I'm services industry myself).

[emma royd]

But the growth spurt is -reportedly- mostly down to services, particularly the financial sector.

 

It'd be more comforting still, if it was mostly down to manufacturing and/or hi-tech instead (and I'm not partisan, I'm services industry myself).

 

It seems manufacturing output also increased.

 

"In the third quarter, U.K. services output grew 0.7 percent, while industrial production increased 0.5 percent, the statistics office said. Services was led by finance and business services, which jumped 0.8 percent, the most since the third quarter of 2007, just before the start of the financial crisis. Within production industries, manufacturing increased 0.2 percent. Construction fell 0.6 percent".

 

It is particularly heartening as between 1997 and 2010 manufacturing's contribution to UK GPD fell from over 20% to less than 13%. Hopefully that is changing. In the last few weeks the Chinese have announced that a new Rover is to be built in the mothballed UK factories. These factories employed 10s of thousands of workers in the 1990 when it produced upwards of 300,000 cars each year.

[Mecky]

Well bloody hell, we're all saved

[L00b]

In the last few weeks the Chinese have announced that a new Rover is to be built in the mothballed UK factories.

But their own manufacturing output has just dipped unexpectedly, so don't count your chickens just yet

[I1L2T3]

It seems manufacturing output also increased.

 

"In the third quarter, U.K. services output grew 0.7 percent, while industrial production increased 0.5 percent, the statistics office said. Services was led by finance and business services, which jumped 0.8 percent, the most since the third quarter of 2007, just before the start of the financial crisis. Within production industries, manufacturing increased 0.2 percent. Construction fell 0.6 percent".

 

It is particularly heartening as between 1997 and 2010 manufacturing's contribution to UK GPD fell from over 20% to less than 13%. Hopefully that is changing. In the last few weeks the Chinese have announced that a new Rover is to be built in the mothballed UK factories. These factories employed 10s of thousands of workers in the 1990 when it produced upwards of 300,000 cars each year.

 

manufacturing is down actually, contracting by the fastest rate for over 2 years.

[Mecky]

It seems manufacturing output also increased.

 

"In the third quarter, U.K. services output grew 0.7 percent, while industrial production increased 0.5 percent, the statistics office said. Services was led by finance and business services, which jumped 0.8 percent, the most since the third quarter of 2007, just before the start of the financial crisis. Within production industries, manufacturing increased 0.2 percent. Construction fell 0.6 percent".

 

It is particularly heartening as between 1997 and 2010 manufacturing's contribution to UK GPD fell from over 20% to less than 13%. Hopefully that is changing. In the last few weeks the Chinese have announced that a new Rover is to be built in the mothballed UK factories. These factories employed 10s of thousands of workers in the 1990 when it produced upwards of 300,000 cars each year.

 

That says it all doesn't it? China. Who has enough money to by a Rover anway? it's allright producing goods but why bother if nobody can afford to buy them.

[emma royd]

That says it all doesn't it? China. Who has enough money to by a Rover anway? it's allright producing goods but why bother if nobody can afford to buy them.

 

You seem to be really struggling to make your usual left wing point here.

There will be over 1.9 million new vehicles sold in the UK in 2011. Would you prefer them to be made in the UK or in Germany & France?

 

Incidentally UK manufactured motor vehicles account for more than 10% of our total exports. That's why it is good that Honda, Nissan and Toyota set up production in the UK whilst Thatcher was PM, and such a tragedy that Ford, Peugeot, Rover and Reliant all pulled car production out of the UK whilst Blair was in charge.

 

How refreshing that Rover suould pick this moment to resume UK production.

[NorthernStar]

I'm wondering how much of this growth is directly attributable to the recent QE, by that I mean is this a false positive as opposed to the claim of a truly growing economy?