OECD says recession 'near bottom'

Thrugelmir

Yakubu22 wrote: »

So we have reached the bottom of the worst recession since the 1930s? If that's true then I dont understand what the fuss with all this credit crunch stuff is. It was over before it started...unless of course he's talking out of his @r$e!

Do you really believe that the carnage caused by the credit crunch is over ?

UK plc has maxed out its credit card. Even the BOE are now voicing concerns. We have 2 major banks that are still recovering after being 48 hours away from collapse.

And you think that as the recession has bottomed all is ok.

Chris2685

lol, loving the way that anything in that article which could be deemed positive is actually a guess or an opinion and not cold hard fact

IveSeenTheLight

Chris2685 wrote: »

lol, loving the way that anything in that article which could be deemed positive is actually a guess or an opinion and not cold hard fact

I don't anything estimating the future can be given as fact
Crystal balls are not good enough to show facts.
the estimates are based on previous predictions and how factually, things hace not been as bad as previously predicted.

We know in the last 18 months - 2 years things have not been good, but that is historical, facts can be shown.

wolvoman

I would be amazed if growth in 2010 was 0.0%.

Many economists are predicting that Q3 and Q4 of this year will show growth (some even suggest Q2 will).

Either the OECD disagrees with this or they expect a form of double-dip effect.



My suspicion is that the OECD forecast is a little bit behind recent events and that decline this year won't be as bad as forecast and that next year will post a modest growth.


If there is any double-dip effect, this might happen later in 2010/11 as taxes and IRs rise. Whether this is enough to turn growth negative is another question.