Jump to content
House Price Crash Forum
cashinmattress

Uk Recession Is Not Over

Recommended Posts

UK recession is not over, says NIESR

Economic recovery may be weaker and slower than previously hoped according to the National Institute of Economic and Social Research (NIESR), which last month said the British economy had started growing again.

The think tank revised down its forecasts for growth, emphasising that volatility persists and there is no guarantee that the recovery will be strong or sustained.

NIESR's revisions followed a bigger-than-expected downward revision of official first-quarter gross domestic (GDP) data by the Office for National Statistics (ONS), and worse-than-expected industrial output figures for May, which make it unlikely that the economy returned to growth in the second quarter, despite upbeat forecasts by some economists.

Chinese rise in industrial output raises hopes of end to global recessionLast month NIESR estimated that the economy grew by 0.2pc in April and 0.1pc in May, with the recession hitting the bottom in March. On Tuesday, however, it estimated that GDP actually fell by 0.3pc in May, before growing again in June by 0.6pc.

Martin Weale, NIESR's director, was cautious: "Hopefully we are very close to or at the trough, but I'm less optimistic than I was. Our sense is that rapid recession is over but some months GDP will be up and some months it will be down," he said. NIESR estimated that the economy shrank by 0.4pc in the three months to June, and was about 5.5pc below is peak in March 2008.

ONS data also published on Tuesday showed that British manufacturing output shrank unexpectedly in May by 0.5pc with the biggest falls in the paper and printing industries. April's rise was also revised down to show zero growth. Industrial production overall fell by 0.6pc in May.

"The figures provided another reminder that the economic recovery is still at an early and fragile stage. It now looks even less likely that GDP actually expanded in the second quarter," said Vicky Redwood at Capital Economics.

Think tanks = a bunch of polticians sons and daughter, and their buddies, analysing newpapers and stats, and making predictions.

Same as us here at housepricecrash.co.uk, except we don't get paid for it and we are actually right.

Edited by cashinmattress

Share this post


Link to post
Share on other sites

Translates as...

"Oh ******! We'd better change our stance fast or we're going to look like a right bunch of plums. Someone make up another report, I'm off for lunch."

Share this post


Link to post
Share on other sites
UK recession is not over, says NIESR

Think tanks = a bunch of polticians sons and daughter, and their buddies, analysing newpapers and stats, and making precitions.

Same as us here at housepricecrash.co.uk, except we don't get paid for it and we are actually right.

This is bull. I read a report earlier today that polled respected economists, selling houses and mortgages, as to whether the situation now is better than during the blitz and 51% of them felt that, possibly, it was (compared to 49% last month). We're on the way back baby.

Share this post


Link to post
Share on other sites
This is bull. I read a report earlier today that polled respected economists, selling houses and mortgages, as to whether the situation now is better than during the blitz and 51% of them felt that, possibly, it was (compared to 49% last month). We're on the way back baby.

I say 'meh' to what you wrote, but bloody hell, could you pick a more macabre and eerie avatar next time?

Share this post


Link to post
Share on other sites
I say 'meh' to what you wrote, but bloody hell, could you pick a more macabre and eerie avatar next time?

How can you say 'meh' to an article that was on the front page of the BBC website, you crazy fool?

The avatar is an attempt to help me get over my fear of clowns (ever since that episode of Dr Who with the clowns as a child). It is not working, as I still cry in fear every time I post.

Share this post


Link to post
Share on other sites
emphasising that volatility persists and there is no guarantee that the recovery will be strong or sustained.

Oh how I love comedy of this quality.

Share this post


Link to post
Share on other sites
I find the leaves at the bottom of my tea cup provide a more useful indication of which way this economy is moving!

No they don't. They're already on the bottom.

Share this post


Link to post
Share on other sites
Oh how I love comedy of this quality.

Maybe it's why Shakespeare only did comedies or tragedies. As the old song goes, Don't mess around with Mr. Inbetween.

BTW, wonder if this thread should be merged with the one about suggestions for 'settin' up a business' ?

The stuff Governments will buy from so-called 'Think Tanks' is quite comedic, if not lucrative.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   288 members have voted

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


×

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.