Friday, Aug 27, 2010
Bounce engineered by Gordon Brown did not arrive in time to put him back in no. 10
Telegraph: UK economy grows at fastest pace in nine years
''The Office for National Statistics (ONS) on Friday said gross domestic product grew at 1.2pc between April and June, unexpectedly upgrading its previous estimate of 1.1pc. ''
Posted by hpwatcher @ 01:04 PM (903 views) Add Comment
3 Comments
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1. hpwatcher said...
Will it last?
Absolutely not. It's the last gasp of an indebted prosperity, artificially engineered by politicians so they could keep their jobs.
2. jack c said...
This by contrast from the FT on the same topic
GDP rises 1.2% but no cause for joy
Story by: Cara Waters Magazine: FTAdviser Published Friday , August 27, 2010
UK gross domestic product (GDP) increased by 1.2 per cent in the April to June period compared with the previous quarter but Schroders has warned the UK economy is still weak.
The latest figures from the Office of National Statistics (ONS) were revised from an increase of 1.1 per cent published in July.
The figures showed the volume of output in the production industries rose by 1.0 per cent, within which, manufacturing rose by 1.6 per cent.
The output of the service industries increased by 0.7 per cent and construction output was estimated to have increased by 8.5 per cent.
In real terms, household expenditure increased by 0.7 per cent compared with the previous quarter, while gross fixed capital formation fell by 2.4 per cent.
Azad Zangana, European economist at Schroders, said the increase in household expenditure was encouraging but a significant fall in corporate investment of 2.4 per cent was less positive.
He said: "The headline number still hides a fair bit of weakness in the UK economy.
"The one per cent increase is down to the inventory cycle which always follows a dip.
"I doubt we will see the same one per cent increase next quarter.
"We expect a significant slow down for the third and fourth quarter of the year as well."
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