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UK contraction worse than thought
Comments
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As to interest rate rises, oil prices must be a huge factor in that decision now.
Merv must be thanking his lucky stars. First oil price rises he can blame inflation on and now another 0.1% off the GDP figure.
Interest rate rises are unlikely to materialise now until much later in the year.
In the meantime the banks are returning to profit and it won't be long before they return to lending either.0 -
All the people hand-wringing about borrowing passing the problems on to the young, obviously haven't seen the latest youth unemployment figures.Politics is not the art of the possible. It consists of choosing between the disastrous and the unpalatable. J. K. Galbraith0
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Blacklight wrote: »
Interest rate rises are unlikely to materialise now until much later in the year.
Agreed. The recent MPC minutes indicated that some members would be swayed if these revised figures were better, as everyone expected they would be.
The fact that they are worse pushes a potential interest rate rise further back, if it comes at all this year.
Funny how using Snow as an excuse for poor house sales figures at this time of year is laughed at on here, but Snow as an excuse for poor GDP figures appears to be accepted as a valid!0 -
Sir_Humphrey wrote: »All the people hand-wringing about borrowing passing the problems on to the young, obviously haven't seen the latest youth unemployment figures.
The youth unemployment figures didn't materlise overnight. Its been a trend for a number of years.0 -
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Graham_Devon wrote: »Don't think this slight change will make much difference to interest rate considerations.
Psychologically it isn't a small change because a number of people were expecting a largish change the other way (some as much as 0.5%).'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 -
What do you expect? George to say well we'll cut a bit and if people don't like it then we won't cut?
How successful will his retrenchment plans be then?
He must make a plan, defend it and stick to it until it changes.
You mean like with the forests
'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 -
Thrugelmir wrote: »The youth unemployment figures didn't materlise overnight. Its been a trend for a number of years.
True, we had the YTS scheme in the 80'S, it seems a perennial problem.'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 -
RenovationMan wrote: »It also indicates that the next quarter figures will be worse.
Why? we may get a rebound.'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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