MSE News: UK economy still in recession

kennyboy66_2

At least Gordon is keeping to his promise of no more boom and bust !

Graham_Devon

Mining and quarrying made the largest contribution to the decline falling by 3.5 per cent, compared with a fall of 0.6 per cent in the previous quarter. Manufacturing output fell by 0.2 per cent compared with a decrease of 0.1 per cent in the previous quarter. Electricity, gas and water supply fell by 0.6 per cent compared with a decrease of 3.6 on the previous quarter.

Services output weakened by 0.2 per cent compared with a fall of 0.6 per cent in the previous quarter. Distribution, hotels and restaurants contributed most to the fall.

Distribution, hotels and restaurants fell by 1.0 per cent, compared with a decrease of 0.4 per cent in the previous quarter. Wholesale and hotels and restaurants contributed most to the decline.

Transport, storage and communication fell by 0.3 per cent, compared with a fall of 1.8 per cent in the second quarter. Post and telecommunications made the largest contribution to the decrease.

Business services and finance decreased by 0.1 per cent, compared with a decrease of 0.7 per cent in the previous quarter. Other business services made the largest contribution to the fall.

Construction output decreased by 1.1 per cent, compared with a decrease of 0.8 per cent in the previous quarter.

Government and other services showed zero growth, compared with negative growth of 0.2 per cent in the previous quarter. Health made the largest contribution to the marginal increase.

Agriculture, forestry and fishing output decreased by 1.6 per cent compared with a fall of 2.9 per cent in the previous quarter.

JP45

So much for the forecasts.

A 0.4% fall despite the massive fiscal and monetary support comes as quite a shock even for those, such as myself, of a bearish outlook.

It also surely brings into question the timing of the inevitable tightening of fiscal policy.

I guess this makes us even more reliant on a significant pick up in global trade and a sterling-led a boost for exports.

ruggedtoast

Frankly this is terrible news.

No more boom and bust - what an absolute c$%£.

Wookster

No big surprise here.

Until November 08 this was a financial crisis (at least in the UK). Now it has morphed into an economic crisis stemming from the fact that there is now a global competition for labour (with India & China entering the Labour market) and frankly, the West is losing.

inspector_monkfish

Short Sterling Futures are well into positive territory since data released.

ruggedtoast

inspector_monkfish wrote: »

Short Sterling Futures are well into positive territory since data released.

I think you may have to translate that for me!

:money:

chucky

it will be even funnier if the 4th quarter is negative too

lostinrates

Everyone who understands this (or at least, all of you) seem more depressed by this than me.

I dn't really get why. It could have been worse, a lot worse. The figure produced doesnt change the news to all bad, just as if we had left recession the nws would have been all good.

Its kind of.....what we are reporting here daily: some good news, some bad news....a little more bad and doubt perhaps.

Really2

lostinrates wrote: »

Everyone who understands this (or at least, all of you) seem more depressed by this than me.

Have a word with GD he seems to think it is great.

Graham_Devon wrote: »

Is this the bulls hangout thread today

It is depressing (well I think) as it means we are in recession again for another 3 months and the rest of the world will recognise that.

But I suppose the rise was not going to be that great either (as a percentage) so in theory the man on the street will see no change.