0.5% growth 1st Quater 2011

worldtraveller

andyroberts1967 wrote: »

I think the next quarter will be astoundingly high due to the good weather (so far) the Royal Wedding and the fact that half the country are having 11 days off work in a row and are probably going shopping to fill their days. But we won't know this until July.

I would have thought that if half the country were having 11 days off work in a row this month it would depress production and with UK disposable income at it's lowest peacetime levels since 1921 I wouldn't expect too much serious shopping activity IMHO.

shortchanged_2

Doesn't 0.5% fall in the previous quarter added to the 0.5% (estimated) growth for the last quarter equate to 0% growth for half a year?

doire_2

I blame the sunshine

Spartacus_Mills

angrypirate wrote: »

At least the growth we are seeing at the moment is down to growth in the private sector (anyone wanting to argue that the public sector is growing at the moment?)

12 months ago the "growth" that the labour government were giving us was purely in the public sector and on borrowed money.

Excellent result, from -0.5% to +0.5% in three months. Excellent.

Inflation coming down, unemployment coming down.

Government on right track, private sector doing well.

Thrugelmir

shortchanged wrote: »

Doesn't 0.5% fall in the previous quarter added to the 0.5% (estimated) growth for the last quarter equate to 0% growth for half a year?

Not what this % shows. This quarters growth figure is the % rise over the 4th quarter 2010 GDP figure.

shortchanged_2

On the downside though the figure were lower than the OBR's estimate of 0.8% growth for the quarter, which means yet again that growth estimations have been overly optimistic again.

shortchanged_2

Thrugelmir wrote: »

Not what this % shows. This quarters growth figure is the % rise over the 4th quarter 2010 GDP figure.

I've just read Ed Balls say exactly the same thing as I did.:eek:

I hope to God he has a better grasp of economics than I do. :rotfl:

Thrugelmir

shortchanged wrote: »

On the downside though the figure were lower than the OBR's estimate of 0.8% growth for the quarter, which means yet again that growth estimations have been overly optimistic again.

Only provisional figures. Will still change.

B_Blank

SO the only reason we arent in a double dip recession was the snow. And spending cuts havent even started to bite yet.

The politicians (taking doom and gloom so then when its not so bad they can get re-elected) and inflation have done a number on consumer confidence.

It is quite obvious that a double dip is coming in Q2 and Q3 of this year. I guess we might not need IR rises for that HPC afterall. This new recession is going to do it.

Really2

B_Blank wrote: »

SO the only reason we arent in a double dip recession was the snow. And spending cuts havent even started to bite yet.

That's most probably (struggling for polite word, lets make it a bit leftie) the most special statement I have read today.

How did the snow stop a double dip recession? As far as I know public spending cuts have been happening for nearly a year now the private sector have cut cost for 2-3 years?