Strompy Posted October 1, 2009 Share Posted October 1, 2009 http://news.bbc.co.uk/2/hi/business/8284217.stm The IMF predicts that the US economy will contract by 2.7% in 2009, before growing by 1.5% next year.The eurozone, it thinks, will shrink by 4.2% this year and grow by 0.3% in 2010. It has upgraded its forecast for UK economic growth to 0.9% next year, up from a previous estimate of 0.2%. This puts the UK top of Europe's leading economies for growth in 2010, alongside France. The German economy, the IMF thinks, will grow 0.3% next year, while the Spanish economy will shrink by 0.7%. The world's fastest-growing economy in 2010 will be Singapore, which will expand by 4.1%, closely followed by Taiwan, Slovakia, South Korea and Hong Kong, according to the fund. Quote Link to comment Share on other sites More sharing options...
SMAC67 Posted October 1, 2009 Share Posted October 1, 2009 If the GDP figures include QE then I think they may be correct. However, we won't be better off, we will simply have more funny fiat money in the system. Quote Link to comment Share on other sites More sharing options...
Concrete Jungle Posted October 1, 2009 Share Posted October 1, 2009 Well placed to weather the storm. Quote Link to comment Share on other sites More sharing options...
Brave New World Posted October 1, 2009 Share Posted October 1, 2009 On the HPC blog is there not an article in the Telegraph saying that we have the worst defecit in the developed world with the implication that we are fooked???!! I wish the IMF would make their mind up! Suppose QE works in mysterious ways! Quote Link to comment Share on other sites More sharing options...
Sybil13 Posted October 1, 2009 Share Posted October 1, 2009 Uk To Have Strongest Growth In Eu In 2010 AND A £215billion a year funding gap the worst in the world says the IMF Britain is facing a more severe credit crunch than any other country in the developed world, the International Monetary Fund said yesterday. .....The UK faces a so-called annual "financing gap" of £215bn – 15pc of gross domestic product – this year and next between what people need to borrow to keep the economy in good health and what they actually can lay their hands on. Quote Link to comment Share on other sites More sharing options...
right_freds_dead Posted October 1, 2009 Share Posted October 1, 2009 as wise as they are, the IMF havent seem to have factored in UK inflation with the falling £ to produce that said 0.9% 'growth'. notice how also the bbc only take snippets from the IMF reports. they say nothing of the IMF warning that the UKs 206billion annual deficit is going to cause serious blocks to growth. which is strange since the bbc is a forced purchase with the threat of prison, so it should offer a balanced view. not pro propaganda. Quote Link to comment Share on other sites More sharing options...
Neverland Posted October 1, 2009 Share Posted October 1, 2009 If the GDP figures include QE then I think they may be correct. However, we won't be better off, we will simply have more funny fiat money in the system. The eurozone, it thinks, will shrink by 4.2% this year and grow by 0.3% in 2010.It has upgraded its forecast for UK economic growth to 0.9% next year, up from a previous estimate of 0.2%. This puts the UK top of Europe's leading economies for growth in 2010, alongside France. We have CPI of c.1.8% and the Eurozone has CPI of c.0.2% at the last measure If you strip that out, in real terms, the Eurozone is growing in 2010 and our economy is shrinking Quote Link to comment Share on other sites More sharing options...
TwoWolves Posted October 1, 2009 Share Posted October 1, 2009 I think the IMF lost their credibility some time ago. Every month there is a new story about the IMF saying the opposite of what they said last month. Also have to remember that they are terribly constrained by politics. If they said something like "all the banks in Austria are bankrupt" they would cause capital flight - even if it was true they would be in deep water politically. Conclusion : about as trustworthy as Gordon Brown. P.S. Not all the banks in Austria are bankrupt, it was just an example. Quote Link to comment Share on other sites More sharing options...
Neverland Posted October 1, 2009 Share Posted October 1, 2009 I think the IMF lost their credibility some time ago. Every month there is a new story about the IMF saying the opposite of what they said last month. Also have to remember that they are terribly constrained by politics. If they said something like "all the banks in Austria are bankrupt" they would cause capital flight - even if it was true they would be in deep water politically. Conclusion : about as trustworthy as Gordon Brown. P.S. Not all the banks in Austria are bankrupt, it was just an example. -1 I think the IMF are pretty sensible They have less political bias than most national bodies and less VI than investment banks What isnt sensible is the selective quoting of IMF reports - either by the media or here Quote Link to comment Share on other sites More sharing options...
TwoWolves Posted October 1, 2009 Share Posted October 1, 2009 -1 I think the IMF are pretty sensible They have less political bias than most national bodies and less VI than investment banks What isnt sensible is the selective quoting of IMF reports - either by the media or here I didn´t say they had political bias, I said they are constrained [politically] by what they can or can´t say without serious repercussions. If you read the original reports, and I´ll add they are very dry, you will find plenty of contradictory statements. This is because its economics by committee and not everyone agrees Quote Link to comment Share on other sites More sharing options...
Neverland Posted October 1, 2009 Share Posted October 1, 2009 I didn´t say they had political bias, I said they are constrained [politically] by what they can or can´t say without serious repercussions. If you read the original reports, and I´ll add they are very dry, you will find plenty of contradictory statements. This is because its economics by committee and not everyone agrees Thats probably because there is lots of contradictory evidence Anyway, for once we agree Quote Link to comment Share on other sites More sharing options...
Realistbear Posted October 1, 2009 Share Posted October 1, 2009 http://news.bbc.co.uk/2/hi/business/8284217.stm http://news.bbc.co.uk/1/hi/business/8284410.stm UK factory activity sees new dip Activity in the UK manufacturing sector continued to decline in September, a survey has indicated. The Chartered Institute of Purchasing & Supply (CIPS) index fell to 49.5 in September from 49.7 in August. A figure below 50 implies contraction rather than growth. Last month's figure was the second monthly fall in a row. The decline surprised analysts , who had forecast a return to growth. UK shares fell after the survey came out, but the pound made modest gains. Years of decline yet and jobs are still going tro be lost. Its Global after all. Quote Link to comment Share on other sites More sharing options...
right_freds_dead Posted October 1, 2009 Share Posted October 1, 2009 http://news.bbc.co.uk/1/hi/business/8284410.stm UK factory activity sees new dip Activity in the UK manufacturing sector continued to decline in September, a survey has indicated. The Chartered Institute of Purchasing & Supply (CIPS) index fell to 49.5 in September from 49.7 in August. A figure below 50 implies contraction rather than growth. Last month's figure was the second monthly fall in a row. The decline surprised analysts , who had forecast a return to growth. UK shares fell after the survey came out, but the pound made modest gains. Years of decline yet and jobs are still going tro be lost. Its Global after all. so your still thinking gold is dead then ? Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted October 1, 2009 Share Posted October 1, 2009 Its the Growthless Growth recovery. Quote Link to comment Share on other sites More sharing options...
Injin Posted October 1, 2009 Share Posted October 1, 2009 The UK state needs to print money to keep going. Therefore the case will be made that it's perfectly ok to do so. Need growth> oh ther will be loads, say the boffins. Jobs? - full employment! (For boffins) Low taxation - absolutely..lowest on earth (for russian mafia, brazilian ladyboys..and boffins.) etc etc et ******ing cetera... Quote Link to comment Share on other sites More sharing options...
uptherebels Posted October 1, 2009 Share Posted October 1, 2009 - What isnt sensible is the selective quoting of IMF reports - either by the media or here +1 Stupid and dangerous. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.