MSE News: Construction drop means UK back in recession

Former_MSE_Helen

This is the discussion thread for the following MSE News Story:

"The UK is back in recession after a surprise 0.2% contraction in the economy in the first quarter of the year"

Read the full story:
Construction drop means UK back in recession





This thread is not in the 'discuss house prices and economy board' as that is only open to those logged into the forum so anyone coming from the news story may not be able to see it.

gadgetmind

Recession? What recession?

http://www.google.com/hostednews/ukpress/article/ALeqM5gI4sqJTdz126AZp6vDMlq21EfZZg?docId=B68804471335258736A000

"More than 3,000 senior council executives pocketed pay and perks packages in excess of £100,000 in in 2010-11, with then chief executive of Hammersmith and Fulham Council topping the list."

Premier_2

gadgetmind wrote: »

Recession? What recession?

http://www.google.com/hostednews/ukpress/article/ALeqM5gI4sqJTdz126AZp6vDMlq21EfZZg?docId=B68804471335258736A000

"More than 3,000 senior council executives pocketed pay and perks packages in excess of £100,000 in in 2010-11, with then chief executive of Hammersmith and Fulham Council topping the list."

Don't forget, when casting your vote next month, "we're all in this together"

:cool:

animalhouse

“Shame on David Cameron. Shame on Nick Clegg. Shame on George Osborne.

“Their shame would not be quite so great if they had a theory about what elements of spending will grow to offset their 9% of GDP planned fiscal contraction.
Is the pound supposed to collapse and are exports than to surge?
Is the prospect of rising unemployment in the U.K. supposed to greatly enhance business confidence and trigger a surge of private-sector investment?
Is the 30-year gilt yield supposed to fall from 4% to 1% and that reduction in the cost of capital cause a surge of capital formation throughout Britain?

“Cameron, Clegg, and Osborne don't tell us. They don't tell us because they are clueless dorks. They don't even have a theory about how the economy will avoid a double dip. They hope that – somehow, some way – Mervyn King will save them from themselves. But if they actually carry through with their policies, I don't see how he can.”

Source: J. Bradford DeLong, 21/10/10
J Bradford DeLong is a professor of economics at the University of California at Berkeley, chair of its political economy major, a research associate of the National Bureau of Economic Research, a visiting scholar at the Federal Reserve Bank of San Francisco, and was in the Clinton administration a deputy assistant secretary of the US Treasury.

animalhouse

PMQ's should be interesting today....

PParka

Back in recession....... Did we ever come out of it????
Maybe we did technically, but it didn't feel like it.

gadgetmind

PParka wrote: »

Back in recession....... Did we ever come out of it????
Maybe we did technically, but it didn't feel like it.

I doubt anyone can spot a few fractions of a percent of GDB in either direction from 20-30 paces.

However, many people don't spot the end to a recession for quite some time as unemployment can continue to rise even after GDP has started to rise. It's only when momentum has been achieved and business confidence grows that your average man in the street will be aware of it.

Still, good news is starting to trickle in. Caterpillar - which is one of the companies I always watch to see the first green shoots - posted some very good results yesterday.

JHC

The underlying point is that this isn't a "normal" recession. Most developed countries have accumulated vast debts and liabilities over recent years and these have to be reduced before any significant growth can occur.

In many ways the present economic situation more resembles that of the 1930s rather than any post-war recession.

Butterfly_Brain

So we are back in recession because house building has stalled....Ye Gods!If that is all it takes then this country is up to its eyes in doo doo.
I blame politicians of ALL parties who, over the last thirty or forty years have run manufacturing into the ground,turned this country into a service industry, sold off utilities to huge foreign owned multinationals, sold off every company they could to the highest bidders (Over 50% of businesses in this country are owned by foreigners ), they have blatentley allowed contracts and jobs to go abroad and not bothered to protect UK workers jobs, printed money like it is toilet paper, allowed the EUSSR to dictate to us about policy, towed the line with the IMF so that we are bailing out the Euro through the back door and how can they say we have to cut, cut, cut when they can give billions of tax payers money to other countries in aid, EUSSR fees, IMF loans, bailing out greedy banks, quangos etc, allowed every Tom, !!!!!! and Harry in from abroad and given them free health care, houses and benefits of which they have never paid a penny towards.
No wonder we are going to the wall.
Time to foreclose on the banks and see if that stops their greed, they owe us over a trillion pounds, get us out of the EU, totally stop immigration, if people are here from abroad who are not working or have been convicted of ANY crime they should be deported and all foreign nationals should have identity cards to prove that they are here legally if they have no card deport straight away. British workers should be first in line for housing and jobs and finally tell the IMF to take a hike and we could be solvent again.
I am voting UKIP because the big three don't put the indigenous populace first.

JamesU

gadgetmind wrote: »

Still, good news is starting to trickle in. Caterpillar - which is one of the companies I always watch to see the first green shoots - posted some very good results yesterday.

Isn't CAT a US company?

JamesU

gadgetmind

JamesU wrote: »

Isn't CAT a US company?

Yes, but the UK economy is of only passing interest to me, I'm afraid.