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OECD: UK Growth stronger than rivals

HAMISH_MCTAVISH
HAMISH_MCTAVISH Posts: 28,592 Forumite
Part of the Furniture 10,000 Posts Name Dropper Photogenic
edited 7 April 2010 at 10:58AM in Debate House Prices & the Economy

The UK economy is forecast to outstrip its G7 rivals in the second quarter of this year, says the Organisation for Economic Co-operation and Development.

The OECD is predicting it will expand at an annual rate of 3.1%, in line with the government's own Budget forecast.

Such a rate would put the UK ahead of the US, Japan, Germany, France and Italy - but not Canada, the G7's most raw material-rich country.

So much for the doomers and their double dip.

Yes the recovery is still fragile and must be nurtured, but QE has stopped, support is being gradually withdrawn (car scrappage scheme ended, etc), and the recovery is accelerating regardless.
:beer:
“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.

Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”
«13456

Comments

  • boomerangs
    boomerangs Posts: 284 Forumite
    HAMISH_MCTAVISH wrote: »
    So much for the doomers and their double dip.

    Yes, the recovery is still fragile, but QE has stopped, support is being gradually withdrawn (car scrappage scheme ended, etc), and the recovery is accelerating regardless.
    :beer:


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  • Really2
    Really2 Posts: 12,397 Forumite
    10,000 Posts Combo Breaker
    HAMISH_MCTAVISH wrote: »
    ...................

    It's bad news for some.;)
  • HAMISH_MCTAVISH
    HAMISH_MCTAVISH Posts: 28,592 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Really2 wrote: »
    It's bad news for some.;)

    It sure is.

    Very bad news for the insane doomers hoping for more recession, misery, unemployment, and house price falls.

    But great news for everyone else. :)
    “The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.

    Belief in myths allows the comfort of opinion without the discomfort of thought.”
    -- President John F. Kennedy”
  • ruggedtoast
    ruggedtoast Posts: 9,819 Forumite
    http://business.timesonline.co.uk/tol/business/economics/article7090028.ece
    Sterling tumbles on decline in UK services


    Sterling fell against the dollar today after new figures revealed Britain's dominant services sector expanded at a slower-than-expected pace in March after reaching a three-year high in February.



    The Purchasing Managers Index (PMI), the leading index of services activity which covers everything from financial services through to restaurants, fell from a reading of 58.4 in February to 56.5 in March, according to index compilers Markit and the Chartered Institute of Purchasing and Supply, suggesting the UK still faces a slow climb out of recession.


  • purch
    purch Posts: 9,865 Forumite
    Such a rate would put the UK ahead of the US, Japan, Germany, France and Italy

    I thought our only rivals were Greece and Zimbabwe :eek: ..... or am I getting confused ;)
    'In nature, there are neither rewards nor punishments - there are Consequences.'
  • neas
    neas Posts: 3,801 Forumite
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  • StevieJ
    StevieJ Posts: 20,174 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    It does seem that positive news is not welcome for some icon7.gif
    '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 Thatcher
  • stueyhants
    stueyhants Posts: 589 Forumite
    Part of the Furniture 500 Posts
    HAMISH_MCTAVISH wrote: »
    It sure is.

    Very bad news for the insane doomers hoping for more recession, misery, unemployment, and house price falls.

    But great news for everyone else. :)

    You seem to assume that people who post negative economic news are happy about it.

    I have a negative view regarding the UK economy for the medium term, this derives me no pleasure. In fact the opposite, for a number of people in the country times are going to get even harder and no one can rejoice at that.
  • StevieJ
    StevieJ Posts: 20,174 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    stueyhants wrote: »
    You seem to assume that people who post negative economic news are happy about it.

    Just get the impression that if things turn out better than expected, some won't be happy about it - maybe they just want a cheapo house.
    '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 Thatcher
  • HAMISH_MCTAVISH
    HAMISH_MCTAVISH Posts: 28,592 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    stueyhants wrote: »
    You seem to assume that people who post negative economic news are happy about it.

    No, I don't need to assume anything. There has been much gloating from numerous posters about the impact said news will have upon house prices over the last year or so. Erroneously, as it turns out.;)
    I have a negative view regarding the UK economy for the medium term, this derives me no pleasure. In fact the opposite, for a number of people in the country times are going to get even harder and no one can rejoice at that.

    So then you should delight in todays news that growth is accelerating, and accept that your previous positions may have been overly pessimistic.
    “The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.

    Belief in myths allows the comfort of opinion without the discomfort of thought.”
    -- President John F. Kennedy”
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