Old Tom Posted July 2, 2013 Share Posted July 2, 2013 Business confidence in the UK is at its highest level since 2007, the latest economic survey from a leading business group has suggested. The quarterly survey from the British Chambers of Commerce (BCC) is the latest indication that the UK's economic recovery is strengthening. There was further good news from a survey of the UK's construction sector. The Markit/CIPS purchasing managers' index indicated the sector grew for the second month in a row in June. "The UK upturn is slowly strengthening," said David Kern, the BCC's chief economist. The BCC said export sales had grown by their fastest rate since it began publishing its survey in 1989. It now expects GDP to grow by 0.6% in the second quarter of 2013. That is significantly more positive than its previous forecast, where it predicted growth of 0.9% for the whole year. The survey adds to a slew of recent positive data suggesting the UK economy is beginning to strengthen after a long and slow recovery from the global financial crisis. On Monday, PMI data also suggested UK manufacturing is growing at its fastest rate in two years, while Bank of England figures showed that mortgage approvals hit a three-and-a-half-year high in May. Last week, official data showed the services sector, which accounts for about three-quarters of the economy, was continuing to grow. All this coming a week after it emerged that the UK didn't have a double dip recession is good news for most people, although bad news for those praying for the economic recovery to fail. Link to comment Share on other sites More sharing options...
I1L2T3 Posted July 2, 2013 Share Posted July 2, 2013 It's a shame Osborne flushed three years of recovery down the pan. Link to comment Share on other sites More sharing options...
Old Tom Posted July 2, 2013 Author Share Posted July 2, 2013 It's a shame Osborne flushed three years of recovery down the pan. We seem to have done rather better than the rest of Europe. There is a nice film here for you to watch. http://www.presstv.ir/detail/2013/06/29/311443/france-in-recession-amid-austerity/ On June 26, France’s National Institute of Statistics and Economic Studies (INSEE) confirmed that France is in recession, after registering two consecutive quarters of negative economic growth. It said that the European country’s economy had contracted by 0.2 percent in the first quarter of the year. The French government has failed to change its direction in dealing with the economic crisis. Earlier on Saturday, French paper Le Monde announced that Paris was seeking $18.2 billion in spending cuts in 2014, in order to reduce the country’s public deficit. “What we need today is total change in the direction across Europe. We must change our economic and social policy and democracy. The European people have not been permitted to choose their future,” Khalfa added. Meanwhile, a survey recently conducted by Ifop also showed that President Francois Hollande’s popularity rating has dropped by nearly 30 percent. The country has not only been struggling with a worsened economy but it has been also hit by a record high number of 3.26 million jobseekers in April, despite campaign promises by Hollande to curb the rise in unemployment by the end of 2013. Link to comment Share on other sites More sharing options...
whiteowl Posted July 2, 2013 Share Posted July 2, 2013 All this coming a week after it emerged that the UK didn't have a double dip recession is good news for most people, although bad news for those praying for the economic recovery to fail. Whilst I have no particular axe to grind with regards to this politically, according to the figures posted on the BBC website we did have a double dip recession - it was only a rounding exercise that made it look like we didn't. A bit like saying the country has no debt, when rounded to the nearest quadrillion pounds. Still, if it makes people sleep easier at night Link to comment Share on other sites More sharing options...
WeX Posted July 2, 2013 Share Posted July 2, 2013 It's a shame Osborne flushed three years of recovery down the pan. or it took three years to get the country back on course. ---------- Post added 02-07-2013 at 20:52 ---------- Whilst I have no particular axe to grind with regards to this politically, according to the figures posted on the BBC website we did have a double dip recession - it was only a rounding exercise that made it look like we didn't. A bit like saying the country has no debt, when rounded to the nearest quadrillion pounds. Still, if it makes people sleep easier at night No, the figures where revised after more data was made available. I think you will find rounding happens on ALL figures past and present. Its not like they decided to round the figures this time only. But im also interested in these other figures you have seen that show we went into recession. Do you have a link to them we can see? Link to comment Share on other sites More sharing options...
I1L2T3 Posted July 2, 2013 Share Posted July 2, 2013 Unfortunately Osborne failed by the targets he set himself. His whole plan was based on fantasy growth predictions and a magical belief in private enterprise straight out of a GCSE economics textbook. His latest brainwave is to re-inflate the housing bubble. His idiocy is seemingly without limits. If we recover it's despite him not because of him. Link to comment Share on other sites More sharing options...
Old Tom Posted July 2, 2013 Author Share Posted July 2, 2013 Unfortunately Osborne failed by the targets he set himself. His whole plan was based on fantasy growth predictions and a magical belief in private enterprise straight out of a GCSE economics textbook. His latest brainwave is to re-inflate the housing bubble. His idiocy is seemingly without limits. If we recover it's despite him not because of him. So what do you think Darling's target was in 2007, a 7.3% contraction in GDP? Link to comment Share on other sites More sharing options...
whiteowl Posted July 2, 2013 Share Posted July 2, 2013 or it took three years to get the country back on course. ---------- Post added 02-07-2013 at 20:52 ---------- No, the figures where revised after more data was made available. I think you will find rounding happens on ALL figures past and present. Its not like they decided to round the figures this time only. But im also interested in these other figures you have seen that show we went into recession. Do you have a link to them we can see? I agree that rounding does happen all the time, it just so happens to have quite a large consequence this time. http://www.bbc.co.uk/news/business-23080151 Link to comment Share on other sites More sharing options...
Anna B Posted July 2, 2013 Share Posted July 2, 2013 Good news, if it's right, but unemployment has gone up to 12.9% Link to comment Share on other sites More sharing options...
Vague_Boy Posted July 2, 2013 Share Posted July 2, 2013 It's a shame Osborne flushed three years of recovery down the pan. You keep telling yourself that sunshine. Meanwhile, to those who might like their ill-informed opinions with a side dish of facts, take a look at this graph showing UK GDP from 2008 to 2012. LINK Note which years have a plethora of negative GDP figures. And which don't. HINT: The truly catastrophic GDP figures all occurred before the 2010 general election. The oft-cited (without links I might add) myth that "the recovery was underway" is just so much rectal gas I'm afraid. Now I'm no fan of our George, but compared to Gordon Brown he's an economic genius. But then again, compared to Hamish McRuin, a moldy sandwich would do a better job. More personality too. Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.