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Uk Economy Shrinks Most Since 1958

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Guest UK Debt Slave
The UK economy shrank 2.4pc in the first quarter, its largest contraction since 1958, according to the latest official data.
The decline in gross domestic product (GDP) was greater than an earlier estimate from the Office for National Statistics of 1.9pc as the recession deepened, hitting industries from manufacturing to services.

The drop on the quarter was the biggest since the year that Michael Jackson was born and Harold Macmillan was prime minister.

http://www.telegraph.co.uk/finance/finance...since-1958.html

House price inflation anyone?????

Hasn't Gorderon done well?

Is anyone waking up to what these asshats have done to our country yet?

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Ham-ish and his friends will be pleased to know their chums at Aunt Beeb have

already spun this along the lines of

that was first quarter and not now, been in recession longer than we thought but only by a tiny margin, right now lots of signs of things picking up so... [whisper] Vote Labour, gordon saved the world

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seen it on the news..

"but on the upside house prices are on the up for two month now"

Yeah right..for how much longer :lol:

And that is complete B0LL0CKS too....... The sample is 3, and those have beed fiddled....

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seen it on the news..

"but on the upside house prices are on the up for two month now"

Yeah right..for how much longer :lol:

That's because there is no link between HPI and GDP.

What GDP does is completely irrelevant.

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This cannot be true! According to London's esteemed economic expert Alistair Darling the UK economy is expected to grow this year! :lol:

Poor old Darling..... I feel a teeny bit sorry for him -- he picked up the most poisoned chalice of all time from that moron Broon.....

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Please check your official data for QOQ falls, in particular Q1 1974

The Telegraph is only repeating what the ONS said in its briefing note Noel (the FT says the same). They're referring to the chained volume measures at market prices I believe (series ABMI).

Are you looking at the chained volume indices (YBEZ)? That shows -2.45% in Q1 1974.

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The Telegraph is only repeating what the ONS said in its briefing note Noel (the FT says the same). They're referring to the chained volume measures at market prices I believe (series ABMI).

Are you looking at the chained volume indices (YBEZ)? That shows -2.45% in Q1 1974.

I put the same comment on the FT. I'm looking at BBG's "UK GDP chained at Market prices QoQ". All very confusing!

UK Constant GDP 2005=100. UK GDP now incorporates the effects of the introduction of annual chain linking, adjustments for the effect of VAT missing trader intra-community (MTIC) fraud, other methodological improvements and new information across a range of series. For a complete breakdown of GDP and its

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Poor old Darling..... I feel a teeny bit sorry for him -- he picked up the most poisoned chalice of all time from that moron Broon.....

Hang on a minute. Was he forced to take over as chancellor? With a gun to his head??

Surely the job entails/requires being a bit of a whiz with economics no?

Of course it does. Who here would have taken the job from the cyclops knowig what the future held?

That makes him not fit to do the job. Everyone should have refused to do it.

Capt on titanic.....

"Hold the wheel a minute mate - I'm just going to errrr. check the lifeboats"

"DUH OKAY"

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seen it on the news..

"but on the upside house prices are on the up for two month now"

I hate it when the news drones put a value judgement / spin on news, such as implying that house price fall=bad/rise=good. I expect them to report the news and let me be the judge of whether it's good or bad.

Anything else is just propaganda IMO, unless it's a magazine type show where subjects are explored in more detail from several points of view.

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Guest UK Debt Slave
_45991582_gdp_growth_466_fin_v2.gif

Pretty shocking graph isn't it?

I reckon Broon will throw several tantrums seeing that one.

Oh....but hang on a minute.....the whole idea of NuLabour was to bankrupt the UK wasn't it?

I'm sure the rictus grin is still intact after all

The horrible fekkn *******

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In my opinion....it's time to whack up interest rates to 10% to sort out this mess :lol:

This low interest rate and printing money shenanigans is doing more harm than good.

Bend out Britain and take your medicine.

P.S. Ill send you all a postcard a from far off distant land...thankfully I ST-FOSE...That's "Sold To F**k Off Somewhere Else" :lol:

Edited by TheCountOfNowhere

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