British Economy Booming

Rinoa

http://www.thisismoney.co.uk/money/news/article-2339901/British-economy-striving-recovery-says-NIESR-think-tank.html

The British economy is gathering pace and looks set to grow by more than expected this year, a leading think tank said last night.

The National Institute of Economic and Social Research said output increased by a ‘relatively robust’ 0.6 per cent between March and May.
It fuelled hopes that Britain is finally on the road to recovery more than five years after the financial crisis struck and boom turned to bust.

City economists are now reviewing their forecasts following a flurry of better-than-expected news in recent days. NIESR last month predicted growth of 0.9 per cent this year and 1.5 per cent in 2014.

But Jonathan Portes, director of the highly-respected organisation, said: ‘Since then things have got better. The forecasts could be revised. It could be better.’

Societe Generale yesterday became the latest institution to raise its forecasts – from 0.6 per cent to 0.9 per cent for 2013 and from 1.2 per cent to 1.4 per cent in 2014.

Brian Hilliard, the bank’s chief UK economist, said a recovery is ‘under way’ and growth of 0.5 per cent in the second quarter of the year is ‘easily achievable’ following the 0.3 per cent rise in output in the first three months.

The good news just keeps on coming. :beer:

dryhat

Totally meaningless bull5h1t and not worth arguing about.


... and why is continual "growth" a good thing anyway?

brit1234

Rinoa wrote: »

The good news just keeps on coming. :beer:

:think:


http://www.bbc.co.uk/news/business-22860320

Sorry but job growth is flat and inflation is wiping out all our small pay rises and some. In reality we are getting poorer and having less money to put into the economy.

Mr._Pricklepants

brit1234 wrote: »

Sorry but job growth is flat and inflation is wiping out all our small pay rises and some. In reality we are getting poorer and having less money to put into the economy.

Yes, but at least property is getting cheaper as we can see in your signature.

Rinoa

brit1234 wrote: »

:think:

Sorry but job growth is flat and inflation is wiping out all our small pay rises and some. In reality we are getting poorer and having less money to put into the economy.

Yes, we know we've been in a recession. Try to stop looking backwards and concentrate more on the future.

Looks like you're living in the past with your sig too. :rotfl:

Graham_Devon

Rinoa wrote: »

Yes, we know we've been in a recession. Try to stop looking backwards and concentrate more on the future.

So monetry policy can start getting back to "normal" then?

Interest rates can start to rise? Props can start to be removed?

Conrad

brit1234 wrote: »

In reality we are getting poorer and having less money to put into the economy.

Of course wages slumped once the public stopped fuelling it with borrowed money. That was the temporary fantasy, now is reality.

Look around this forum - it's mse to shop around for cheaper foreign imports - so we effectively drive down wages as a result.

If we regulate for higher wages mse consumer types will buy even more from China so we loose even more jobs.

The only answer is to slash business red tape and make it much easier to invest and start new enterprise.

Rinoa

Graham_Devon wrote: »

So monetry policy can start getting back to "normal" then?

Interest rates can start to rise? Props can start to be removed?

When conditions permit, at the appropriate juncture, in the fullness of time.

Graham_Devon

Rinoa wrote: »

When conditions permit, at the appropriate juncture, in the fullness of time.

When it that? If it's not when the "british economy is booming" as you have stated?

Mr._Pricklepants

Graham_Devon wrote: »

So monetry policy can start getting back to "normal" then?

Interest rates can start to rise? Props can start to be removed?

Year after year, thread after thread, you kept banging on about the cost of living ....and now you want to further increase the cost of living?

Like Rinoa says, when conditions permit.

Rinoa

Graham_Devon wrote: »

When it that? If it's not when the "british economy is booming" as you have stated?

No doubt the MPC will make that decision when the time is right.

When they do you'll no doubt warn us of the catastrophe to follow with millions of homeowners in imminent danger of being repossessed.