GDP small increase

[Deleted User]

Just 0.6% but in september/ october the economy is flat lining. Has spread sheet Phil missed an opportunity to inject some life into an economy that is ailing?

Masomnia

Compared to 0.2% in the Eurozone, so can't be that bad.

Thrugelmir

venison wrote: »

Just 0.6% but in september/ october the economy is flat lining. Has spread sheet Phil missed an opportunity to inject some life into an economy that is ailing?

Subsequent revisions in ONS stats tend to be upwards. Not all the data is in yet.

Some companies only file annual returns. As the nature of the business is seasonal. Therefore monthly figures have no direct correlation with the previous years. In the agricultural sector we used to file estimated flash figures on a quarterly basis then file annual figures on one return. All 60 odd pages of it! The detail required couldn't just be lifted out of the annual accounts either.

Phil's budget is for next and future years. Levers are pulled well in advance. Economies aren't racing cars. More like oil supertankers slow and cumbersome to turn around.

wunferall

Masomnia wrote: »

Compared to 0.2% in the Eurozone, so can't be that bad.

Compared to a negative figure by Germany it's definitely not bad.
PLUS we are the only ones leaving the EU.
So far.

Thrugelmir

Masomnia wrote: »

Compared to 0.2% in the Eurozone, so can't be that bad.

Look at how much more QE has been pumped into the system than both the UK and the USA. Likewise the Eurozone is becoming less and less influential in world trade terms.

movilogo

Remainers would soon say:

It is because we haven't left EU yet.

Thrugelmir

movilogo wrote: »

Remainers would soon say:

It is because we haven't left EU yet.

The UK does trade outside of the EU as well.

sevenhills

The European Union GDP Annual Growth rate is higher than ours, it has been above 2% since 2016, where as the UK growth rate has been below 2%; one months growth rate will not change that.