OECD: UK will miss start of recovery

mewbie_2

Ain't over yet. But hey bulls, keep on buying. The longer this lasts the more time I have to plan and save.

Rochdale_Pioneers

Yay! Another OECD forecast! As accurate as their last one...

mbga9pgf

Yes! Just like the Labour treasury's forecast you mean?

mbga9pgf

Really2 wrote: »

I think the most would be the ones that have never been affected by one.

One thing is for sure it is better to be coming out of one than getting deeper in to one.

Not when you reduce the severity of the current one by burning future productivity and economic growth.. We could have had a short, hideous recession, but instead we went for pretending things weren't that bad then having to pay off our bailouts for a lifetime.

StevieJ

Jury still out on UK GDP in Q3

The OECD, in an interim assessment of the economic outlook, says Britain's GDP will show a small decline in the current quarter and that it will be flat in the final quarter of the year, for an overall GDP fall of 4.7% this year, similar to Germany, 4.8%, but worse than America (2.8%), France (2.1%) and the G7 average (3.7%). The assessment is here.
The UK forecast sits oddly alongside the purchasing managers' survey for services, also out today, which showed a rise from 53.2 to 54.1, a level consistent with growth in the sector of 3%. This survey, taken together with those for manufacturing and services, suggest the economy returned to growth a couple of months ago.


http://www.economicsuk.com/blog/000983.html

Graham_Devon

Guess we'll have to wait and see. Tough one to call really.

Everything seems a bit rosy. But is it?

Rochdale_Pioneers

mbga9pgf wrote: »

Yes! Just like the Labour treasury's forecast you mean?

Absolutely! Every single forecast issued has been cobblers. Government, economists, corporate, international bodies, the whole smash. The only thing that counts is the facts. As and when we get actual data - that counts.

StevieJ

Rochdale_Pioneers wrote: »

Absolutely! Every single forecast issued has been cobblers. Government, economists, corporate, international bodies, the whole smash. The only thing that counts is the facts. As and when we get actual data - that counts.

That will be in about two years then

Really2

mbga9pgf wrote: »

. We could have had a short, hideous recession, but instead we went for pretending things weren't that bad then having to pay off our bailouts for a lifetime.

What would have been the point, the outcome would have been worse and most probably even longer lasting! or is that the point?

mewbie_2

Really2 wrote: »

What would have been the point, the outcome would have been worse and most probably even longer lasting! or is that the point?

All conjecture. We don't know the outcome yet, the bill is likely to last for 20 years. It sounds like we, and the US, are now lone voices in the "keep on borrowing" brigade. Why is that do you think? It's because we built a housing bubble on borrowed money.

What a silly thing to do.