Recession Over?

Dan:_4

LONDON (Reuters) - The recession in Britain is over for now, a slim majority of economists said in a poll published by the Financial Times on Monday.

The newspaper said 11 of 20 economists surveyed believed the economy had stopped contracting in June and was likely to start growing in coming months, while those who said the economy was still shrinking thought the bottom of the downturn was near.

http://uk.reuters.com/article/topNews/idUKTRE55705L20090608

Generali

Well FWIW, I reckon a country hasn't left recession until real GDP is back to where you started from before it started falling.

Also FWIW, most economists disagree with me. I guess that's because the ones that care about definitions like that are employed either directly or indirectly by Government so feel the need to come up with helpful definitions.

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Staggering really, when the first quarter has been revised downwards, to think that we could be in positive territory in the second half of the year, it's like Halifax reporting a -1.7% one month, then the very next month report a +2.6%, oh wait a minute........ Just who are these economists ?, court jesters ?

neil324

Dan: wrote: »

LONDON (Reuters) - The recession in Britain is over for now, a slim majority of economists said in a poll published by the Financial Times on Monday.

The newspaper said 11 of 20 economists surveyed believed the economy had stopped contracting in June and was likely to start growing in coming months, while those who said the economy was still shrinking thought the bottom of the downturn was near.

http://uk.reuters.com/article/topNews/idUKTRE55705L20090608

Their talking out of their !!!!!!, when GDP shows growth then i'll believe it:rotfl:

Dan:_4

Everyone seemed happy to believe these SAME economists 12 months back when they were predicting the recession.

ess0two

Dan: wrote: »

LONDON (Reuters) - The recession in Britain is over for now, a slim majority of economists said in a poll published by the Financial Times on Monday.

The newspaper said 11 of 20 economists surveyed believed the economy had stopped contracting in June and was likely to start growing in coming months, while those who said the economy was still shrinking thought the bottom of the downturn was near.

http://uk.reuters.com/article/topNews/idUKTRE55705L20090608

Armchair pundits here will disagree.........

Seeing definate signs at work,recently started exporting a product back into Europe,that since Oct 08 had been blended into gasoline feedstock.

StevieJ

[SIZE=-1] The OECD is also mellowing, it seems that some people don't want the recession to end, and any good news is seen as bad I wonder why [/SIZE]
[SIZE=-1]
Leading economies are showing fragile signs that the economic crisis driving recession in many countries may be easing or have reached a low point, the OECD said on Monday on the basis of April data.

[/SIZE][SIZE=-1]The latest monthly figures, for April, "point to a reduced pace of deterioration in most of the OECD economies with stronger signals of a possible trough in Canada, France, Italy and the United Kingdom," the OECD said.[/SIZE]

http://uk.biz.yahoo.com/08062009/323/top-economies-signal-recession-easing-oecd.html

inspector_monkfish

Not on the South East Coast.....

Coastal areas in the South East have been particularly badly hit during the recession, a new report has shown.

http://news.bbc.co.uk/1/hi/england/8088199.stm

neil324

Dan: wrote: »

Everyone seemed happy to believe these SAME economists 12 months back when they were predicting the recession.

Really i thought they was saying we would miss it, strong fundamentals and all.

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inspector_monkfish wrote: »

Not on the South East Coast.....

Coastal areas in the South East have been particularly badly hit during the recession, a new report has shown.

http://news.bbc.co.uk/1/hi/england/8088199.stm

I don't suppose the workers at LDV feel like the recession is over, and I also bet the workers at the Vauxhall plants don't feel like applying for a new credit card to put the summer holiday on either. But hey, house prices are rising while we have recorded the worst GDP figures for a quarter, and are in the middle of the worst recession since the war.

inspector_monkfish

Dan: wrote: »

Everyone seemed happy to believe these SAME economists 12 months back when they were predicting the recession.

even a panel of 2 year olds could have predicted that !!!

:rotfl: