UK business confidence 'at six-year high'

[whiteowl]

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.

 

I thought the 2008 crash that happened to a lot of Western countries, not just ours, was brought about by the mis-selling of sub-prime mortages in the States or has that theory been discredited now ?

 

And also - doesn't that graph show the recovery starting in 2009 with 2x0.4% growths prior to the 2010 election ?

 

---------- Post added 03-07-2013 at 01:21 ----------

 

To add - don't get me wrong, I thought the last Labour lot were a bunch of useless jokers but this lot aren't any better.

[Longcol]

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.

 

Source of the copy and paste job please

[Mecky]

Wrong, it is thought to be, with nothing to back it up, in fact the notion came from some sort of a think tank and jumped on by the usual suspects; the BCC, the ONS and the like. I can see a lot of these type of stories being created in the run-up to the election - a lot of noise but nothing to substantiate it. GDP is unreliable anyway so I don't know why people go on about it. Put your money of Murray to win wimbledon too.

 

Here's what the BBC say, this has been edited later by the BBC too http://www.bbc.co.uk/news/business-23141396

[I1L2T3]

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.

 

Sunshine?

 

Look at the graph you linked to. You can look at the GDP graphs for other countries on the same site too. You will generally see a pattern of western economies crashing 2008. You won't see many with such patchy growth as us after 2010.

[maxmaximus]

It's a shame Osborne flushed three years of recovery down the pan.

 

Twenty years to fix economy

Britain is in a “20 year generational battle” to rebalance the economy and return the country to financial health, according to Britain’s most senior civil servant.

 

It usually takes longer to fix something than to break it, so this time scale sounds about right.

[Mecky]

Twenty years to fix economy

Britain is in a “20 year generational battle” to rebalance the economy and return the country to financial health, according to Britain’s most senior civil servant.

 

It usually takes longer to fix something than to break it, so this time scale sounds about right.

 

Not sure it has anything to do with a balance, but a recovery from the 2008 crash. It has little to do with borrowing or the deficit. Of course there is an election around the corner so you can expect people to try and put the blame on borrowing or the deficit ... which seems hypocritical since both are up under this government.

[I1L2T3]

Twenty years to fix economy

Britain is in a “20 year generational battle” to rebalance the economy and return the country to financial health, according to Britain’s most senior civil servant.

 

It usually takes longer to fix something than to break it, so this time scale sounds about right.

 

It took over 20 years to break it, starting with Thatcherism in the 80s. If it takes longer to fix than break then forget the next 30 years.

[maxmaximus]

It took over 20 years to break it, starting with Thatcherism in the 80s. If it takes longer to fix than break then forget the next 30 years.

 

Under Thatcher it was being fixed and it was still doing fine until about 1997 when the dot com bubble started to inflate.

[Anna Glypta]

Good news, if it's right, but unemployment has gone up to 12.9%

 

No it hasn't

 

http://www.bbc.co.uk/news/business-22868901

 

12 June 2013 Last updated at 13:26

 

UK unemployment has fallen by 5,000, the Office for National Statistics (ONS) has said.

 

ONS data indicated 2.51 million people were out of work in the three months to April. The jobless rate was unchanged from three months earlier, at 7.8%.

 

---------- Post added 03-07-2013 at 09:11 ----------

 

Not sure it has anything to do with a balance, but a recovery from the 2008 crash. It has little to do with borrowing or the deficit. Of course there is an election around the corner so you can expect people to try and put the blame on borrowing or the deficit ... which seems hypocritical since both are up under this government.

 

The deficit is down by almost 1/3. But don't let the truth get in the way of a mecky post.

 

http://www.ft.com/cms/s/0/3a60f90e-abf5-11e2-a063-00144feabdc0.html#axzz2Xuy2W5Il

[Mecky]

No it hasn't

 

http://www.bbc.co.uk/news/business-22868901

 

12 June 2013 Last updated at 13:26

 

UK unemployment has fallen by 5,000, the Office for National Statistics (ONS) has said.

 

ONS data indicated 2.51 million people were out of work in the three months to April. The jobless rate was unchanged from three months earlier, at 7.8%.

 

---------- Post added 03-07-2013 at 09:11 ----------

 

 

The deficit is down by almost 1/3. But don't let the truth get in the way of a mecky post.

 

http://www.ft.com/cms/s/0/3a60f90e-abf5-11e2-a063-00144feabdc0.html#axzz2Xuy2W5Il

 

That's not what Grub Bank said on the Sunday Morning TV rubbish