We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
Debate House Prices
In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non MoneySaving matters are no longer permitted. This includes wider debates about general house prices, the economy and politics. As a result, we have taken the decision to keep this board permanently closed, but it remains viewable for users who may find some useful information in it. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Recession may be over tomorrow
bo_drinker
Posts: 3,924 Forumite
Looks like it may all be over tomorrow then, time to dismantle this board say our goodbyes and all get back to normal . 
:rotfl::rotfl::rotfl:
Recession may finally be over as house prices and car sales rise
The dark days of recession may finally be over as figures yesterday revealed house prices rising and car sales up.
They were among SIX reports that show the recovery is gathering pace and consumer confidence is growing.
New car sales jumped 11.4% last month. It is the third month running they have increased but September is the most important time for the motor industry due to the new registration. Experts said the figures demonstrated the success of the Government's scrappage scheme.
House prices went up by 1.6%, according to the Halifax. The bank's economist Martin Ellis said lower prices - they are still 7.4% down on a year ago - combined with rock bottom interest rates was fuelling demand.
He added: "There are signs that the improvement is encouraging more people to put their properties up for sale."
Tesco added to the good news with plans to hire another 5,000 workers in the second half of the year - taking the total to 12,000.
Boss Sir Terry Leahy said: "The recovery is happening, we're through the low-point.
"Consumers are gaining confidence and are prepared to spend again."
It seems air passengers have also put their economic worries behind them. EasyJet carried 4.4 million passengers last month, a 5.3% leap on September 2008.
And there was brighter news on the jobs front. A report from KPMG said more firms were hiring for the second month running.
CYCLE
Partner Bernard Brown said: "After declining for 16 months, the number of people placed in permanent jobs has risen for the second consecutive month. This provides further evidence the bottom of the economic cycle has been reached."
Consumer confidence hit an 18-month high according to a report from Nationwide.
The collection of good news sent share prices soaring. The FTSE-100 Index leapt more than 100 points to 5137.
Nationwide's economic analyst Mark Saddleton said: "September saw a much stronger increase in overall confidence compared with recent months. The index is now at its highest level since April 2008.
"Expectations for the future economic situation are also buoyant, with pessimism about the labour market on the decrease."
Advertisement - article continues below »
Yet there were still words of caution from one group of influential analysts.
The National Institute of Economic and Social Research has calculated that, contrary to expectations, the UK economy did not grow in the third quarter of the year.
It said it believed gross domestic product was unchanged from July to September.
The forecast casts doubt on whether the UK economy will be following France, Germany and Japan out of recession.
But Global Insight chief economist Dr Howard Archer said he believed the recession was now over and official figures would confirm it later this month.
He added: "The car scrappage scheme and people spending before the VAT increase expected in January will give the economy another lift in the run-up to Christmas."
HOUSE PRICES UP
CAR SALES UP
SALES UP
PASSENGERS UP
VERDICT - By Clinton Manning
Britain isn't broken - neither are we broke.
Despite Tory spin, recovery is under way.
The evidence was clear yesterday with consumer confidence, house prices and car sales on the up.
The recession could end on October 23 when figures should show the economy has grown again.
Manufacturing is still in trouble but the service sector, the economy's new powerhouse, is growing at its fastest rate since the crunch began.
Play FREE poker and win cash!
:rotfl::rotfl::rotfl:
Recession may finally be over as house prices and car sales rise
The dark days of recession may finally be over as figures yesterday revealed house prices rising and car sales up.
They were among SIX reports that show the recovery is gathering pace and consumer confidence is growing.
New car sales jumped 11.4% last month. It is the third month running they have increased but September is the most important time for the motor industry due to the new registration. Experts said the figures demonstrated the success of the Government's scrappage scheme.
House prices went up by 1.6%, according to the Halifax. The bank's economist Martin Ellis said lower prices - they are still 7.4% down on a year ago - combined with rock bottom interest rates was fuelling demand.
He added: "There are signs that the improvement is encouraging more people to put their properties up for sale."
Tesco added to the good news with plans to hire another 5,000 workers in the second half of the year - taking the total to 12,000.
Boss Sir Terry Leahy said: "The recovery is happening, we're through the low-point.
"Consumers are gaining confidence and are prepared to spend again."
It seems air passengers have also put their economic worries behind them. EasyJet carried 4.4 million passengers last month, a 5.3% leap on September 2008.
And there was brighter news on the jobs front. A report from KPMG said more firms were hiring for the second month running.
CYCLE
Partner Bernard Brown said: "After declining for 16 months, the number of people placed in permanent jobs has risen for the second consecutive month. This provides further evidence the bottom of the economic cycle has been reached."
Consumer confidence hit an 18-month high according to a report from Nationwide.
The collection of good news sent share prices soaring. The FTSE-100 Index leapt more than 100 points to 5137.
Nationwide's economic analyst Mark Saddleton said: "September saw a much stronger increase in overall confidence compared with recent months. The index is now at its highest level since April 2008.
"Expectations for the future economic situation are also buoyant, with pessimism about the labour market on the decrease."
Advertisement - article continues below »
Yet there were still words of caution from one group of influential analysts.
The National Institute of Economic and Social Research has calculated that, contrary to expectations, the UK economy did not grow in the third quarter of the year.
It said it believed gross domestic product was unchanged from July to September.
The forecast casts doubt on whether the UK economy will be following France, Germany and Japan out of recession.
But Global Insight chief economist Dr Howard Archer said he believed the recession was now over and official figures would confirm it later this month.
He added: "The car scrappage scheme and people spending before the VAT increase expected in January will give the economy another lift in the run-up to Christmas."
HOUSE PRICES UP
CAR SALES UP
SALES UP
PASSENGERS UP
VERDICT - By Clinton Manning
Britain isn't broken - neither are we broke.
Despite Tory spin, recovery is under way.
The evidence was clear yesterday with consumer confidence, house prices and car sales on the up.
The recession could end on October 23 when figures should show the economy has grown again.
Manufacturing is still in trouble but the service sector, the economy's new powerhouse, is growing at its fastest rate since the crunch began.
Play FREE poker and win cash!
I came in to this world with nothing and I've still got most of it left. :rolleyes:
0
Comments
-
Your right, the good old bears have been proved wrong, it's a bull victory - this board is no longer required.0
-
-
Graham_Devon wrote: »A bull victory would have been no crash.
No, the bulls predictions ranged between 20%-30% down. The bears were expecting a lot, lot more over a much longer period.0 -
I don't think anyone ever predicted that prices would rise inexorably. Inevitably we get an occassional wobble (such as Q4 2007 - Q1 2009), but the general trend is up.
Glad that unemployment is falling, and house prices are rising. Its great news for all those out of work and suffering negative equity0 -
Going to laugh my socks off if the figure comes in negative! Brown has been spinning like a top, pulling forwards consumption drastically, if he hasnt managed to pull GDP positive after it has dopped 6% I wont be surprised!0
-
bo_drinker wrote: »
The best bit of that lot!! :rotfl:0 -
No, the bulls predictions ranged between 20%-30% down. The bears were expecting a lot, lot more over a much longer period.
How things change.
All of a sudden, it appears the bulls were all predicting exactly what happened. Dan predicts the bottom after its happened, though we must remember, they are not actually bulls and you cannot call them that.
Strange that.0 -
Graham_Devon wrote: »How things change.
All of a sudden, it appears the bulls were all predicting exactly what happened.
Strange that.
Go and have a read through the archives.0 -
Going to laugh my socks off if the figure comes in negative!
Maybe not laugh parts of my clothing off, but I refuse to accept that a recession is over just because of a single figure.
Call me whatever you like, but the criteria for calling a recession beginning and ending should be the same.'In nature, there are neither rewards nor punishments - there are Consequences.'0 -
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.1K Banking & Borrowing
- 253.5K Reduce Debt & Boost Income
- 454.2K Spending & Discounts
- 245.1K Work, Benefits & Business
- 600.7K Mortgages, Homes & Bills
- 177.4K Life & Family
- 258.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards