Final Q3 GDP revised up to 0.6%

shortchanged_2

nollag2006 wrote: »

More comedy gold!!!

:rotfl::rotfl:

Thanks nollag, I knew I could count on you to understand.

lisyloo

The jobless recovery?

Well I know it's a tiny anecdotal, but the companies we work for are doing better with fewer staff.
It seems that for people there are two extremes right now - total stress at work or unemployment.
This is bad for people and society.
Collectively we might be better off but it's being spread even more unevenly than ever.

So yes, I do think it's possible for the economy to do better overall but have higher unemployment.
Capitalist businesses would have as few staff as they can get away with.

JonnyBravo

nollag2006 wrote: »

Good to see that the economy is beginning to pick up again. Also good news that tax receipts were well ahead of expectations.

A few pieces of good news to end a tough year.

I'm not so sure it is "picking up". I think we'll see more lower figures and possibly even more negative figures yet.
This could well start to mimic the housing figures with years of "bumping along the bottom".
However I won't be calling out any positive or negative figures as false.

The data is what it is. There is nothing to fear unless you have a predetermined agenda.

And of course shortchanged is bleating long and hard here, but you must understand it's entirely different to when he calls Hamish et al out for bleating about house price drop data.
Entirely different.

:rotfl:

shortchanged_2

So basically it is just saying still no growth in those 6 months, so no change really.

The 0.1 % uprate just cancelling out the 0.1% downgrade of the previous quarter which equals 0% growth for those 6 months.

Very positive I suppose that the UK is managing to achieve such fantastic figures during these tough times.

JonnyBravo

shortchanged wrote: »

So basically it is just saying still no growth in those 6 months, so no change really.

The 0.1 % uprate just cancelling out the 0.1% downgrade of the previous quarter which equals 0% growth for those 6 months.

Very positive I suppose that the UK is managing to achieve such fantastic figures during these tough times.

Oh dear.

Maths not your "strong suit"?

No, it's saying 0.6% growth for those 6 months.
Still weak, but better than the 0% you'd have it be.

Rochdale_Pioneers

Good news. A tiny crumb of comfort, but in the right direction.

Really2

shortchanged wrote: »

So basically it is just saying still no growth in those 6 months, so no change really.

The 0.1 % uprate just cancelling out the 0.1% downgrade of the previous quarter which equals 0% growth for those 6 months.

Very positive I suppose that the UK is managing to achieve such fantastic figures during these tough times.

Mmmm not quiet the way to do maths.

0.0% + 0.6% does not = 0%

It is 0.6% growth for the 6 months.

shortchanged_2

JonnyBravo wrote: »

Oh dear.

Maths not your "strong suit"?

No, it's saying 0.6% growth for those 6 months.
Still weak, but better than the 0% you'd have it be.

:rotfl:

Yes thanks for pointing that out Jonny. And the award for numpty of the year goes to......... me. :rotfl:

doire_2

The UK economy grew by 0.6% between July and September, official figures have shown, faster than previous estimates of 0.5%.
Growth was driven by strong performance in the service sector and construction.
However, the growth estimate for the second quarter of the year was revised down from 0.1% to zero by the Office for National Statistics (ONS).
The ONS said the UK's economic growth in recent quarters continued to indicate a "fragile economic picture".
Since the economy started growing again in mid-2009 it has regained just over half of the output lost during the five quarters of contraction.
Despite the improved growth figure for the third quarter, analysts also warned that the UK economy was still heading for tough times.
James Knightley from ING told the BBC: "The sovereign debt crisis is really hurting [UK] businesses. We could turn back into recession in the next couple of quarters."
"We are are looking at flat growth in the current quarter, maybe a slight contraction of 0.1%. Early next year is key, when the debt crisis could come to a head - any [potential] credit crunch would be a massive constriction on the economy."
Howard Archer, chief economist at IHS Global Insight, said he felt that more action from the Bank of England was likely in the new year.
"It remains odds-on that the Bank of England will undertake further quantitative easing (QE) early in 2012 to try and boost the struggling economy," he said.
"We strongly expect the Bank of England to announce a further £50bn of QE in February, and believe that a further £50bn portion is highly likely to follow in the second quarter (most probably May). Meanwhile, interest rates seem set to stay down at 0.50% through to the second half of 2013 at least."

http://www.bbc.co.uk/news/business-16300104

doire_2

lisyloo wrote: »

Well I know it's a tiny anecdotal, but the companies we work for are doing better with fewer staff.
It seems that for people there are two extremes right now - total stress at work or unemployment.
This is bad for people and society.
Collectively we might be better off but it's being spread even more unevenly than ever.

So yes, I do think it's possible for the economy to do better overall but have higher unemployment.
Capitalist businesses would have as few staff as they can get away with.

Yes it is tiny. Lets stick to the bigger picture eh?