3 cheers for Gordon...

#1
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.
 
#2
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
 
#4
I thought the increase in economic activity was due to pie sales?
 
#5
#6
Command_doh said:
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.
 
#8
Bloody hell. It's worse than I thought.
 
#11
#12
Command_doh said:
I thought this was going to say he had committed suicide...
Carlsberg don't make headlines, but if they did....
 
#13
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.
 

maguire

LE
Book Reviewer
#14
you cant even be sure we are actually out of recession. that 0.1% growth is questionable - the range of error for this figure is apparently 0.5%. :(
 
#16
0.1% isn't out of recession - 0.1% is spending on Christmas. Come March publishing we'll still be in recession.

For Mandelson to say that George Osborne was being unpatriotic for saying this on Sunday calls to mind the expression of Samuel Johnson in 1775 who said "Patriotism is the last refuge of the scoundrel".
 
#17
muhandis89 said:
o.1% is little more than a rounding error.''Out of recession''.I don't think so.
Quite. The low figure has had a pretty negative on the market and makers in the city to be honest. I was almost moved to tears when I saw how low it was.

We really, really, really need some decent growth for the next nine months. Unfortunately, we have a straight choice between Labour who will probably cause a second dip to the recession in the second half of the year, and the tories who have guaranteed us a double dip if they get into power.

Doesn't it make you happy to be a UK voter?
 
#18
muhandis89 said:
0.1% is little more than a rounding error.''Out of recession''.I don't think so.
Very much agree.

Regardless of size, there isn't a company in the world whose financial reports are that accurate.
 
#19
Joe public is going to be drip fed 'good news' about the efficiency of the current set of parasites abilities for the foreseeable future I'm afraid.

There is an election in the offing apparently.
 
#20
Ursus.Maritimus said:
0.1% isn't out of recession - 0.1% is spending on Christmas. Come March publishing we'll still be in recession.

For Mandelson to say that George Osborne was being unpatriotic for saying this on Sunday calls to mind the expression of Samuel Johnson in 1775 who said "Patriotism is the last refuge of the scoundrel".
Yeah. But the figures are seasonally adjusted. So it isn't Christmas.
 

Similar threads

Latest Threads

Top