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Recession is slowing


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I don't think it is to be honest. I think the government has told their ONS quango to try and hype up the economy and the public mood. I pretty sure that when it was reported at 0.7 last month the government said something like, "If you ask 100 different Economists, you will get 100 different answers." Well, it seems to me they've been asking around until they got an answer they like. The government are just trying to move the goalposts to benefit themselves, that's all.

 

the figures almost always get revised.

 

the first attempt is basically just guess, the second attempt is a better guess based on more accurate figures, subsequent revisions are even more accurate but are almost always totally ignored by the press.

 

if you accept that the Jubilee celebrations took around 0.5% of GDP off then the economy is basically flatlining, which to some extent explain some of the other indicators which have been less negative.

 

either way, it's not something to be particularly proud of, not new labours fault and a damning indictment of the failure of the coalitions economic strategy.

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The Tories plans are shown to be working.

Good man Dave!

 

Still plenty of work to be done to clear up all the mess left by Noo Labour but they are getting there. :)

 

Actually it was -0.3% in the first quarter and -0.5% in the second quarter. So rather than slowing it accelerated but just by not as much as first thought.

 

That said it is good news that it wasn't quite as bad as first thought. And that's about all that can be said on a positive note about the GDP figure. The economy still shrunk, by a lot.

 

Hopefully we can get out of this recession in the next quarter. I sometimes get the feeling Osborne has the economy where he wants it. The bigger the problems then the more extreme the counter measures can be.

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Who gives a ferk anyway ? How are YOU going to change owt ? There is no answer but taking all our clothes off and painting our bums blue and running round the garden waving a pork chop at your neighbour, shouting " I am a teapot " ....

 

Good on mr wotsisname for doing whatever to whoever because I dont see owt any different !!!!

 

:banana::banana::banana::banana::banana::banana: :banana: yaaaaay .

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Who gives a ferk anyway ? How are YOU going to change owt ? There is no answer but taking all our clothes off and painting our bums blue and running round the garden waving a pork chop at your neighbour, shouting " I am a teapot " ....

 

Good on mr wotsisname for doing whatever to whoever because I dont see owt any different !!!!

 

:banana::banana::banana::banana::banana::banana: :banana: yaaaaay .

 

 

 

Hmmmm......what have you been drinking and/or smoking?:huh:

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