Wednesday, Apr 07, 2010
Has anyone seen a 'Recovery' around here? So much for the 'Green shoots'.
Bloomberg: British Pound Declines as Services Growth Misses Estimates
The pound fell against the dollar after a report showed weaker-than-forecast growth for U.K. service companies, adding to concern that the economic recovery may falter.
Posted by markj69 str05 @ 11:35 PM (690 views) Add Comment
5 Comments
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1. markj69 str05 said...
I am so glad there's only one month to the GE. No more artificial stimulation influencing the figures to make it appear like a recovery was on its way.
2. miken said...
The pitiful amount of growth we have had over the last year has come from 170bn of government debt and 200bn of QE. I hope labour are kicked out.
3. mander said...
Mark you may be right while other countries have been through the processes of asset price correction, we here have had asset price inflation so I wonder too if after GE we will try to get back to reality or still keep inflating assests.
4. markj69 str05 said...
Why would they try to keep inflating assets in a market that's stagnant, or at very best crawling along. Where the gov't has to inject a gazzillion pound in an attempt to stimulate the ecomony prior to a general election, (And achieve a delay in the inevitable). Where unemployment is higher than we are led on to believe. Salaries not rising with inflation, and interest rates sliding along the floor so that Joe public doesn't go bankrupt all at once. Not to mention the avg' house being 5-6 times avg salary. And mortgage lending at a low.
IMO it has been 2-3 yrs of smoke and mirrors. When it comes to houses/homes a correction is needed. It will happen. I'm just waiting for the 'Dispair' section on the ' Lifecycle of a bubble' graph. Bring it on.
5. fallingbuzzard said...
I've seen a survey based recovery in services and a restock in manufacturing but I work in a service sector very closely linked with lending and investment and the business is 65% down on 2007. No recovery in demand whatsoever. No lending, no investment, nothing happening other than heavily publicized froth!