Jump to content
House Price Crash Forum
Sign in to follow this  
Realistbear

Q2 Gdp Unexpectedly Revised Up To 1.2%

Recommended Posts

.

Instant View - Q2 GDP unexpectedly revised up to 1.2% qq
9:41, Friday 27 August 2010
LONDON (
Reuters
) - Britain's economy grew faster than originally estimated in the second quarter of this year, hitting its fastest rate of growth in more than nine years, official data showed on Friday.
An upward revision to construction output meant the Office for National Statistics revised up its initial estimate of 1.1 percent to 1.2 percent growth on the quarter.
The figures provide further evidence that Britain's economic recovery accelerated sharply during the first half of the year but economists are concerned that a weakening global economy and looming UK government spending cuts will sap growth in 2011.

Recovereh locked in? Lotsa spending on the high street as job losses fail to materialise? Buty then again, its not October yet.

Share this post


Link to post
Share on other sites

.

Instant View - Q2 GDP unexpectedly revised up to 1.2% qq
9:41, Friday 27 August 2010
LONDON (
Reuters
) - Britain's economy grew faster than originally estimated in the second quarter of this year, hitting its fastest rate of growth in more than nine years, official data showed on Friday.
An upward revision to construction output meant the Office for National Statistics revised up its initial estimate of 1.1 percent to 1.2 percent growth on the quarter.
The figures provide further evidence that Britain's economic recovery accelerated sharply during the first half of the year but economists are concerned that a weakening global economy and looming UK government spending cuts will sap growth in 2011.

Recovereh locked in? Lotsa spending on the high street as job losses fail to materialise? Buty then again, its not October yet.

So it's OK to put up interest rates again then Merv, to somewhere nearer normal (If you're listening).

Share this post


Link to post
Share on other sites

Apparantly the last Q was the best we have done in 9 whole years. :blink:

http://www.telegraph.co.uk/finance/economics/7967286/UK-economy-grows-at-fastest-pace-in-nine-years.html

UK economy grows at fastest pace in nine years
Britain's economy expanded at an even faster pace in the second quarter than previously thought as growth hit a nine year.

Share this post


Link to post
Share on other sites

Apparantly the last Q was the best we have done in 9 whole years. :blink:

http://www.telegraph.co.uk/finance/economics/7967286/UK-economy-grows-at-fastest-pace-in-nine-years.html

UK economy grows at fastest pace in nine years
Britain's economy expanded at an even faster pace in the second quarter than previously thought as growth hit a nine year.

Construction output leaped 8.6pc in the three months to June – the strongest since the second quarter of 1963 – up from an initial estimate of 6.6pc.

"After such a large gain in Q2, and with the Government cancelling some spending on public infrastructure, it would be foolhardy to expect another large gain in the next quarter," Malcom Barr, economist with JP Morgan, told PA.

Labour's last splurge.

Share this post


Link to post
Share on other sites

All I can say is "go UK" :D

If I was in a less gentlemanly mood, I'd say "told you so" <_<

Edited: Like ET and Elliot, the US and UK/Europe are about to separate...

Edited by AvidFan

Share this post


Link to post
Share on other sites

Apparantly the last Q was the best we have done in 9 whole years. :blink:

http://www.telegraph...nine-years.html

UK economy grows at fastest pace in nine years
Britain's economy expanded at an even faster pace in the second quarter than previously thought as growth hit a nine year.

If you factor in the subdued lending, that is indeed an achievement (I think) bearing in mind the last seven years were "bubble" years.

Share this post


Link to post
Share on other sites

If you factor in the subdued lending, that is indeed an achievement (I think) bearing in mind the last seven years were "bubble" years.

It's a blip caused by massive new labour spending on construction as they tried to win a few votes.

Share this post


Link to post
Share on other sites

Construction output leaped 8.6pc in the three months to June – the strongest since the second quarter of 1963 – up from an initial estimate of 6.6pc.

"After such a large gain in Q2, and with the Government cancelling some spending on public infrastructure, it would be foolhardy to expect another large gain in the next quarter," Malcom Barr, economist with JP Morgan, told PA.

Labour's last splurge.

I work in the construction industry and I can add my anecdotal evidence that activity has massively increased in the last few months, and though some of it is 'affordable housing', most is private new-build housing.

Most of the housebuilders seem to be building aggressively, having been dormant for two years. Of course, if they don't sell these new houses as fast as they're building them... activity will fall off that cliff again, just like it did two years ago.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 142 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • Create New...

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.