3 cheers for Gordon...

**whitecity** · 05-02-2010, 00:53

GDP Growth: UK output increases by 0.1 per cent

Gross Domestic Product (GDP) increased 0.1 per cent in the fourth quarter of 2009, compared with a decrease of 0.2 per cent in the third quarter. The rise in output was due to growths in services and production.

In the fourth quarter of 2009 GDP grew by 0.1 per cent. This was the first economic expansion since quarter one of 2008. The most recent contraction in output, a decline of 0.2 per cent, took place between the second and third quarters of 2009.

Quarter three of 2009 was the sixth and final consecutive quarter of contraction, by this time GDP stood 6.0 percentage points below its pre-recession level. In the 1980s recession the final quarter of economic contraction occurred five quarters after the recession began, when GDP was 4.7 percentage points below the pre-recession level. The fifth quarter also marked the final contraction of the 1990s recession when GDP was 2.5 percentage points lower than it was prior to the recession.

The UK economy grew by 0.1 per cent in quarter four of 2009, the seventh quarter following the onset of recession, which meant GDP was 5.9 percentage points below its pre-recession level. By comparison, in the seventh quarter since the onset of the 1980s recession, GDP was 3.3 percentage points below its pre-recession level. In the seventh quarter since the start of the 1990s recession, GDP was 2.3 percentage points below pre-recession level.

**jonwilly** · 05-02-2010, 00:59

I was given to understand that the .1% rise was due to the car scrappage scheme and that next quarter we would be back into zero/negative growth.
My, My Did Mandelson not announce yesterday that he was extending the car scrapping scheme.
john

**Command_doh** · 05-02-2010, 01:00

I thought this was going to say he had committed suicide...

**jarrod248** · 05-02-2010, 01:01

Originally Posted by Command_doh

I thought this was going to say he had committed suicide...

Funny I also expected something like that, keep dreaming.

**Yokel** · 05-02-2010, 01:10

I thought the increase in economic activity was due to pie sales?

**Rule303** · 05-02-2010, 01:16

Countries that exited the recession before the UK:

Argentina
Australia
Brazil
Canada
China
France
Germany
India
Indonesia
Italy
Ireland
Japan
Mexico
Russia
Saudi Arabia
South Africa
Turkey
United States

Apparently, Britain was better prepared than other nations to weather the global economic storm. Presumably, the Prime Minister was referring to Sub-Saharan Africa when he made that statement.

**Ancient_Mariner** · 05-02-2010, 01:42

Originally Posted by Command_doh

I thought this was going to say he had committed suicide...

It'd have to be assisted suicide. Apparently the demented loon has been making noises about staying on as Labour leader 'even if, for some reason Labour lose the election'.

If you think the graph above is scary, have a look at the one below.

That's how the markets responded to the news that quantitative easing is to be stopped and the government will no longer be propping up the price of UK bonds by buying them off itself using money straight off the printing presses.

The rating of UK debt has been downgraded from 'Andrex' to 'Izal'. The only lower rating is 'ripped up pages from the Guardian'.

As we're depending on selling bonds to raise one third of government expenditure, there may, as they say, be trouble ahead. If nobody will buy our bonds, government cheques will start bouncing and we'll get into the same kind of Zimbabwe-esque fiscal apocalypse that Greece is entering and that Spain and Portugal trying desperately to avoid.

Thanks Gordon.

**muhandis89** · 05-02-2010, 04:02

Then there is this:

http://www.timesonline.co.uk/tol/new...cle7015819.ece

**eodmatt** · 05-02-2010, 05:03

Bloody hell. It's worse than I thought.

**DeltaDog** · 05-02-2010, 05:07

Originally Posted by muhandis89

Then there is this:

http://www.timesonline.co.uk/tol/new...cle7015819.ece

What the fuck is he doing?

**jagman** · 05-02-2010, 05:26

Originally Posted by DeltaDog

Originally Posted by muhandis89

Then there is this:

http://www.timesonline.co.uk/tol/new...cle7015819.ece

What the fuck is he doing?

Lining the pockets of friends and allies of course.
What other reason does he need?

**KingCnut** · 05-02-2010, 10:34

Originally Posted by DeltaDog

Originally Posted by muhandis89

Then there is this:

http://www.timesonline.co.uk/tol/new...cle7015819.ece

What the fuck is he doing?

For once he is thinking clearly and looking to the future. He knows himself and several chums are going to be looking for work later this year (hopefully).

So making sure there are plenty of quangos ensures there are plenty of grossly overpaid jobs for them to jump into.

**Uncivil_Servant** · 05-02-2010, 10:38

Originally Posted by Command_doh

I thought this was going to say he had committed suicide...

Carlsberg don't make headlines, but if they did....

**Chicken_George** · 05-02-2010, 11:12

Allegedly the "car scrappage scheme" is being extended to March!!
If we are joining the "PIGS" economies can we have their weather as well please, I've had enough of wet.