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MSE News: Recession is deeper than feared

Former_MSE_Helen
Former_MSE_Helen Posts: 2,382 Forumite
in Budgeting & bank accounts
"Revised figures today show a sharper decline in the economy in the first three months of 2012 than first thought ..."
Read the full story:
Recession is deeper than feared


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This thread is not in the 'discuss house prices and economy board' as that is only open to those logged into the forum so anyone coming from the news story may not be able to see it.

Comments

  • Butterfly_Brain
    Butterfly_Brain Posts: 8,862 Forumite
    Part of the Furniture 1,000 Posts I've been Money Tipped! Post of the Month
    No really? Another error in a government statistic as per usual. People on this board forecast a double dip last year maybe we should be in government instead of the useless bunch we have there now
    Blessed are the cracked for they are the ones that let in the light
    C.R.A.P R.O.L.L.Z. Member #35 Butterfly Brain + OH - Foraging Fixers
    Not Buying it 2015!
  • grey_gym_sock
    grey_gym_sock Posts: 4,508 Forumite
    and this (january to march) was before a lot of the cuts take effect.
  • danothy
    danothy Posts: 2,200 Forumite
    Part of the Furniture Combo Breaker
    Butterfly_Brain wrote: »
    No really? Another error in a government statistic as per usual.

    It's not an error, it's a revision of an estimate, and there will be another one too. It's standard practice.
    Butterfly_Brain wrote: »
    People on this board forecast a double dip last year maybe we should be in government instead of the useless bunch we have there now

    Anyone can predict anything, knowing what to do about it is entirely different.
    If you think of it as 'us' verses 'them', then it's probably your side that are the villains.
  • callum9999
    callum9999 Posts: 4,436 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    edited 25 May 2012 at 10:01AM
    Particularly as most of the people predicting a double-dip recession don't actually know any relevant figures, they just did a blind guess - with the global issues, it seemed plausible!

    And interestingly it's the construction industry that caused it. Did David Cameron not attempt to relax building restrictions a while ago before people forced him to do a U-turn on the plans? (I'm personally glad he did a U-turn anyway as I value UK countryside etc. higher than GDP - but it just goes to show the usual "the government's doing nothing to help" mantra is a load of rubbish).
  • richardw
    richardw Posts: 19,464 Forumite
    Part of the Furniture 10,000 Posts
    callum9999 wrote: »
    ...And interestingly it's the construction industry that caused it....

    Does construction normally slow down in Autumn/Winter due to cold weather and shorter daylight hours?
    Posts are not advice and must not be relied upon.
  • JacksterD
    JacksterD Posts: 293 Forumite
    callum9999 wrote: »
    Particularly as most of the people predicting a double-dip recession don't actually know any relevant figures, they just did a blind guess - with the global issues, it seemed plausible!

    And interestingly it's the construction industry that caused it. Did David Cameron not attempt to relax building restrictions a while ago before people forced him to do a U-turn on the plans? (I'm personally glad he did a U-turn anyway as I value UK countryside etc. higher than GDP - but it just goes to show the usual "the government's doing nothing to help" mantra is a load of rubbish).

    The thing I find interesting about this new recession being caused largely by the construction industry is it puts a big question mark over the Government's assertions that it was caused by the Eurozone. The construction industry isn't an export, it relies on domestic investment, so I really don't see how it can be said the the Eurozone crisis is what caused this recession.
  • Butterfly_Brain
    Butterfly_Brain Posts: 8,862 Forumite
    Part of the Furniture 1,000 Posts I've been Money Tipped! Post of the Month
    Maybe if the government did more in promoting growth instead of austerity people would start spending, instead they are tightening their belts even further . Maybe the government should read Aesop's Fable the Sun and the Wind.
    Blessed are the cracked for they are the ones that let in the light
    C.R.A.P R.O.L.L.Z. Member #35 Butterfly Brain + OH - Foraging Fixers
    Not Buying it 2015!
This discussion has been closed.
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