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Britain Bounces Back!!
MrRee_2
Posts: 2,389 Forumite
BRITAIN has escaped a return to recession and is bouncing back towards prosperity, key economic data will show this week.
Figures for manufacturing, construction and retail are set to reveal growth at last after months in the doldrums.
City chiefs believe the economy is expanding at a rate equivalent to 0.8per cent a year after shrinking in the final months of 2011.
The triple blast of upbeat news will cheer Treasury officials, who were boosted last week by figures showing the drive to cut Britain’s record debt is ahead of schedule.
It will also raise hopes that George Osborne can ease the tax burden on millions of families in his Budget next month. “We are committed to a real increase in the income tax personal allowance each and every year,” the Chancellor said yesterday.
City insiders are increasingly hopeful that 2012 will be the year Britain’s economy roared back and believe the worst of the financial squeeze is over.
Official figures showed a 0.2 per cent contraction in the economy in the final three months of last year, spreading fears of a return to recession.
But the latest reports suggest the economy has been on the up so far this year.
Paul Fisher, executive director for markets at the Bank of England, acknowledged that the expected double-dip recession had not materialised.
“At the moment the downside risk from that doesn’t seem to be crystallising, we don’t seem to be continuing to slide down this negative growth,” he said.
Kevin Daly, an economist with Goldman Sachs, said: “Our current activity suggests that momentum picked up in early 2012.
“In January, the indicator was consistent with annualised growth of 0.7 per cent to 0.8 per cent.”
Courtesy of the Daily Express.
REJOICE!!!
Jubilee this year, Olympics too .....
I'm backing Britain - are YOU? :T
Figures for manufacturing, construction and retail are set to reveal growth at last after months in the doldrums.
City chiefs believe the economy is expanding at a rate equivalent to 0.8per cent a year after shrinking in the final months of 2011.
The triple blast of upbeat news will cheer Treasury officials, who were boosted last week by figures showing the drive to cut Britain’s record debt is ahead of schedule.
It will also raise hopes that George Osborne can ease the tax burden on millions of families in his Budget next month. “We are committed to a real increase in the income tax personal allowance each and every year,” the Chancellor said yesterday.
City insiders are increasingly hopeful that 2012 will be the year Britain’s economy roared back and believe the worst of the financial squeeze is over.
Official figures showed a 0.2 per cent contraction in the economy in the final three months of last year, spreading fears of a return to recession.
But the latest reports suggest the economy has been on the up so far this year.
Paul Fisher, executive director for markets at the Bank of England, acknowledged that the expected double-dip recession had not materialised.
“At the moment the downside risk from that doesn’t seem to be crystallising, we don’t seem to be continuing to slide down this negative growth,” he said.
Kevin Daly, an economist with Goldman Sachs, said: “Our current activity suggests that momentum picked up in early 2012.
“In January, the indicator was consistent with annualised growth of 0.7 per cent to 0.8 per cent.”
Courtesy of the Daily Express.
REJOICE!!!
Jubilee this year, Olympics too .....
I'm backing Britain - are YOU? :T
Bringing Happiness where there is Gloom!
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Comments
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Ahh that will be the reason why Georgy Porgey has been trying to douse expectations with his “The British Government has run out of money because all the money was spent in the good years,” tirade.
'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 -
Ahh that will be the reason why Georgy Porgey has been trying to douse expectations with his “The British Government has run out of money because all the money was spent in the good years,” tirade.
"No more boom and bust". He's doing his best to make sure that the economy doesn't overheat.0 -
RenovationMan wrote: »"No more boom and bust". He's doing his best to make sure that the economy doesn't overheat.
Good. Hopefully that will mean keeping a tight lid on house prices.0 -
shortchanged wrote: »Good. Hopefully that will mean keeping a tight lid on house prices.
No chance.
The next boom is still several years away from kicking off good and proper, although we'll start to see slight rises from this year onwards.... But it'll put the last one to shame when it does inevitably arrive.
The crash, and associated record low house building, have already guaranteed the next boom will be absolutely massive.“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”0 -
HAMISH_MCTAVISH wrote: »No chance.
The next boom is still several years away from kicking off good and proper, although we'll start to see slight rises from this year onwards.... But it'll put the last one to shame when it does inevitably arrive.
The crash, and associated record low house building, have already guaranteed the next boom will be absolutely massive.
Ive heard it might go nuclear as well.0 -
HAMISH_MCTAVISH wrote: »No chance.
The next boom is still several years away from kicking off good and proper, although we'll start to see slight rises from this year onwards.... But it'll put the last one to shame when it does inevitably arrive.
The crash, and associated record low house building, have already guaranteed the next boom will be absolutely massive.
it's difficult to imagine how such a mind-boggling boom is going to be funded, unless (i) there is going to be a total disconnect between salaries and house prices; and (ii) banks find several hundred billion of capital under the bed.
no doubt the market will find a way though.0 -
chewmylegoff wrote: »no doubt the market will find a way though.
It usually does. With mainstream pensions tanking, it's hard for people to know where to invest their money for their old age. Property does seem to have been a surprisingly robust investment during these troubled times.0 -
HAMISH_MCTAVISH wrote: »No chance.
The next boom is still several years away from kicking off good and proper, although we'll start to see slight rises from this year onwards.... But it'll put the last one to shame when it does inevitably arrive.
The crash, and associated record low house building, have already guaranteed the next boom will be absolutely massive.
no crazy lending dude means no boom :TMaidstone Prices - average reductions at 8.5% (£19,668) Feb 2012 - We thought the dudes were not allowed to drop prices?0 -
A few things have happened over the last 4 years, which has changed the whole dynamic of the economy ... and why a big boom is just around the corner.
1. Interest Rates are at historically low levels.
2. People looking for places to invest - will always choose property.
3. First Time Buyers have saved 10-20% deposits and ready to buy.
4. Government led schemes are driving new house sales rapidly.
5. All the above can only mean ONE thing .... a BIG, BIG, BOOM in House Prices.
6. The Boom has started in the South ....... and coming to a street near you, soon!
7. People have pots of money spare each month and are switching from saving to spending!Bringing Happiness where there is Gloom!0
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