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UK economic recovery stalls in past 3mths - NIESR
inspector_monkfish
Posts: 9,276 Forumite
15:00 06Oct09 UK GDP FLAT IN Q3 AFTER 0.1 PCT GROWTH IN 3-MTHS TO AUG - NIESR
15:00 06Oct09 UK GDP flat in Q3 after factory output falls-NIESR
LONDON, Oct 6 - Britain's economic recovery stalled in the three months to September, the National Institute of Economic and Social Research said after official data on Tuesday showed a sharp drop in industrial output in August.
NIESR said GDP was flat in the third quarter following a modest expansion of 0.1 percent in the three months to August, an outturn it described as disappointing.
"Industrial production was much weaker than we expected in August," NIESR said. "In part this was because of reduced activity in the oil industry, which is known to be erratic. But the manufacturing sector showed further weakness as well."
The Office for National Statistics said industrial output, which accounts for some 17 percent of the economy, fell 2.5 percent in August, while manufacturing output was 1.9 percent down, leading some analysts to doubt the likelihood of a rebound in growth in Q3.
15:00 06Oct09 UK GDP flat in Q3 after factory output falls-NIESR
LONDON, Oct 6 - Britain's economic recovery stalled in the three months to September, the National Institute of Economic and Social Research said after official data on Tuesday showed a sharp drop in industrial output in August.
NIESR said GDP was flat in the third quarter following a modest expansion of 0.1 percent in the three months to August, an outturn it described as disappointing.
"Industrial production was much weaker than we expected in August," NIESR said. "In part this was because of reduced activity in the oil industry, which is known to be erratic. But the manufacturing sector showed further weakness as well."
The Office for National Statistics said industrial output, which accounts for some 17 percent of the economy, fell 2.5 percent in August, while manufacturing output was 1.9 percent down, leading some analysts to doubt the likelihood of a rebound in growth in Q3.
Please take the time to have a look around my Daughter's website www.daisypalmertrust.co.uk
(MSE Andrea says ok!)
(MSE Andrea says ok!)
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Comments
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I think most scoffed at last month them showing .2% growth for three months.
I presume they will be doing the same to this also.0 -
This would be the same NIESR that predicted we were already out of recession in Q2.0
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Degenerate wrote: »This would be the same NIESR that predicted we were already out of recession in Q2.
yep, i guess so.
before they saw todays manufacturing data...Please take the time to have a look around my Daughter's website www.daisypalmertrust.co.uk
(MSE Andrea says ok!)0 -
And the stock markets are loving the news
:beer: 'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
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Thrugelmir wrote: »Oil is driving the market. Brent oil futures are up 2% on the day...... :j
That is just noise although I notice my oil shares have had a good day :j'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0
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