MSE News: UK economy still in recession

Really2

bumpoowee wrote: »

But at least house prices are going up so that will keep the idiots happy for now.

I thought you wanted lower house prices.

Generali

kennyboy66 wrote: »

He only won 1 general election. He suceeded Eden after Suez in 1957, then subsequently won the election in 1959.

I was under the impression he was a long serving PM. Then Major was long serving and only won one election.

tomterm8

Generali wrote: »

I was under the impression he was a long serving PM. Then Major was long serving and only won one election.

Major was prime minister for 6 years 154 days, Harold Macmillan for 6 years 281 days.

Sir Robert Walpole lasted over 20 years.

michaels

Sadly I think Major was actually a very good PM despite the difficult circumstances (poll tax, small majority) - he was willing to talk face to face to the electorate, started the NI peace process and didn't appear to let his ego stop him from making (being forced to make) humiliating decisions (ERM exit etc)

bumpoowee

Really2 wrote: »

I thought you wanted lower house prices.

Lol well yes I do. I was writing from the governments perspective though, as long as house prices are going up people will believe them when they say the economy is improving, regardless of whether it going down the toilet or not.

CHANGEyourMP

GET READY FOR THE CRASH!:cool:

sabretoothtigger

thriftybabe wrote: »

Just think how bad it really would be if the government had not started printing money!

We might be out of it by now if all the damage had been done in one or two quarters, now we have a payment plan to make it last ten years

tomterm8

michaels wrote: »

Sadly I think Major was actually a very good PM despite the difficult circumstances (poll tax, small majority) - he was willing to talk face to face to the electorate, started the NI peace process and didn't appear to let his ego stop him from making (being forced to make) humiliating decisions (ERM exit etc)

I always liked Major, it was just the nutbag majority in his party that put me off. Unfortunatly, it just got worse, as the moderate conservatism I agree with , and which major stood for, suffered and we've got the current lot of scoundrels.

SGE1

sabretoothtigger wrote: »

We might be out of it by now if all the damage had been done in one or two quarters, now we have a payment plan to make it last ten years

Not really. Your logic implies that the recession would have been shorter without QE - and therefore QE is lengthening the recession.

Thrugelmir

Graham_Devon wrote: »

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.

The most concerning aspect is that no sector in the initial stats has shown any increase at all.

If Government expenditure had been cut, as it should have by now. The figures would have been far worse.