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Are we in a recession (officially) - announcement Wednesday AM

2

Comments

  • Graham_Devon
    Graham_Devon Posts: 58,560 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    It's likely to show a 0.1-0.2% increase.

    However, I have to say, it doesn't really matter, even if it's 0.1% negative. It's mearly a technicality and won't change anything on the street. All I suppose it could do is have a slight effect on confidence either way.

    I guess the words "We are in recession" are a lot worse than "were in growth" when it's stated on the news to the nation. Either way though, the figures are much of a muchness...unless it's some unexpected figure!
  • RenovationMan
    RenovationMan Posts: 4,227 Forumite
    I hope so, I have a secure job and the longer BoE rates stay low, the greater my wealth increases. Happy days. :)
  • Graham_Devon
    Graham_Devon Posts: 58,560 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    RenovationMan wrote: »
    I hope so, I have a secure job and the longer BoE rates stay low, the greater my wealth increases. Happy days. :)

    Hope for what? Hope for recession or growth? Sound's like your hoping for recession?
  • RenovationMan
    RenovationMan Posts: 4,227 Forumite
    Graham_Devon wrote: »
    Hope for what? Hope for recession or growth? Sound's like your hoping for recession?

    We all seem to be hoping for the same thing. You guys want a recession so that house prices fall - hence the reason you personally only post negative news reports. I want a recession, or at least stagnation so that we retain these low BoE rates while I get my house sorted.

    I guess the main difference is that at least I'm not disingenuous about it all. :)
  • Graham_Devon
    Graham_Devon Posts: 58,560 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    RenovationMan wrote: »
    We all seem to be hoping for the same thing. You guys want a recession so that house prices fall - hence the reason you personally only post negative news reports. I want a recession, or at least stagnation so that we retain these low BoE rates while I get my house sorted.

    I guess the main difference is that at least I'm not disingenuous about it all. :)

    I don't want a recession. Neither will it make house prices fall.

    Amusing to see posters change tact though, wanting worse news, so that rates stay low!
  • Generali
    Generali Posts: 36,411 Forumite
    10,000 Posts Combo Breaker
    Recession it is. Down a huge 0.1% mostly due to falling construction (down 3% in a quarter).
  • CRASH_BANG_WALLOP
    CRASH_BANG_WALLOP Posts: 661 Forumite
    RenovationMan wrote: »
    We all seem to be hoping for the same thing. You guys want a recession so that house prices fall - hence the reason you personally only post negative news reports. I want a recession, or at least stagnation so that we retain these low BoE rates while I get my house sorted.

    I guess the main difference is that at least I'm not disingenuous about it all. :)

    who does?
    And its disgusting that you want a recession dude
    Maidstone Prices - average reductions at 8.5% (£19,668) Feb 2012 - We thought the dudes were not allowed to drop prices?
  • DannyRadclif
    DannyRadclif Posts: 58 Forumite
    purch wrote: »
    The UK has been in a recession for many quarters already.

    The official figures may show enough "growth" sporadically to avoid labelling it as a recession, but we are in one, a very long one and one that doesn't appear to be ending anytime soon.

    Isn't that true of the world? It is being called the great recession.
    Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam
  • michaels
    michaels Posts: 29,236 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    I am a bit suprised.

    However what is interesting is how muc impact a 'ronding error' may have through the psychological effects of media reports etc. Q3 is almost certain to be down now and with stubborn (imported, mostly on essentials) inflation and a falling money supply we are back in uncharted territory.
    Generali wrote: »
    Recession it is. Down a huge 0.1% mostly due to falling construction (down 3% in a quarter).
    I think....
  • worldtraveller
    worldtraveller Posts: 14,013 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    edited 25 April 2012 at 10:30AM
    Shocker! With the way that GDP is now yo-yoing, partially due, IMHO, to QE policies, I'd say that there is a good chance of a triple dip, or more, as I first indicated back in 2010.

    http://forums.moneysavingexpert.com/showpost.php?p=35677769&postcount=10
    There is a pleasure in the pathless woods, There is a rapture on the lonely shore, There is society, where none intrudes, By the deep sea, and music in its roar: I love not man the less, but Nature more...
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