rantnrave Report post Posted February 25, 2011 (edited) Q4 2010 now -0.6% from -0.5%. Edited February 25, 2011 by rantnrave Quote Share this post Link to post Share on other sites
Lepista Report post Posted February 25, 2011 Now -0.6% What was it before? Quote Share this post Link to post Share on other sites
FreeTrader Report post Posted February 25, 2011 The change in GDP in the fourth quarter was clearly affected by the extremely bad weather in December 2010. The disruption caused by the bad weather is likely to have contributed approximately 0.5 percentage points of the 0.6% decline, that is, if there had been no disruption, GDP would be showing a slight fall. In other words, the downward revision to GDP growth in the final quarter of 2010 is thought to result from a small reduction in the estimate of underlying growth. ONS has revisited the work carried out at the preliminary stage in the light of more complete data and our estimate of the effect of the weather is unchanged. http://www.statistics.gov.uk/pdfdir/oie0211.pdf Quote Share this post Link to post Share on other sites
Hyperduck Quack Quack Report post Posted February 25, 2011 (edited) Bloomberg radio saying UK economy is in trouble and watch pound. Edited February 25, 2011 by Hyperduck Quack Quack Quote Share this post Link to post Share on other sites
Bloo Loo Report post Posted February 25, 2011 http://www.statistic...dir/oie0211.pdf I see, so the growth went down because the growth went down, and thats because the underlying growth decline was underestimated. Quote Share this post Link to post Share on other sites
Bruce Banner Report post Posted February 25, 2011 Construction weak -2.5%. Quote Share this post Link to post Share on other sites
rantnrave Report post Posted February 25, 2011 What was it before? -0.5% Quote Share this post Link to post Share on other sites
FreeTrader Report post Posted February 25, 2011 The main sources of downward revision were business and financial services, accounting for around a third of the economy's output, which contracted in all three months of the quarter. Retail sales were also weaker than previously estimated, but the output of hotels and restaurants was revised up slightly. Quote Share this post Link to post Share on other sites
EmmaRoid #FBPE#JC4PM#GTTO Report post Posted February 25, 2011 No need to raise rates Quote Share this post Link to post Share on other sites
@contradevian Report post Posted February 25, 2011 We need Labour back in to pump more money into the economy. Its clearly the right thing to do. Quote Share this post Link to post Share on other sites
rantnrave Report post Posted February 25, 2011 No need to raise rates Or lower HPs Quote Share this post Link to post Share on other sites
FreeTrader Report post Posted February 25, 2011 Net trade growth also contributed to the decline in the final quarter of last year, as imports grew more strongly than exports. In the MPC minutes they admitted that they don't really understand why import growth is so high considering sterling has fallen so much. Quote Share this post Link to post Share on other sites
Tenubracon Report post Posted February 25, 2011 It was unexpected, don't you know: http://www.bbc.co.uk/news/business-12577154 Quote Share this post Link to post Share on other sites
rantnrave Report post Posted February 25, 2011 TBH, yesterday's news that Germany's economy grew 0.4% in the quarter they had a similar amount of snow to us shows that we really are in a mess. Quote Share this post Link to post Share on other sites
Pent Up Report post Posted February 25, 2011 I was up for an upward revision to seal the interest rate deal. Another spanner in the works now. Quote Share this post Link to post Share on other sites
OnlyMe Report post Posted February 25, 2011 but the output of hotels and restaurants was revised up Output, what did they produce? Quote Share this post Link to post Share on other sites
aa3 Report post Posted February 25, 2011 FAIL! The global economy as a whole is growing at between 4 and 5% a year right now. The UK economy should be growing now with the huge pickup in activity in the developing world. I am sure both France and Germany are seeing rising production as orders come in from around the world. Quote Share this post Link to post Share on other sites
rantnrave Report post Posted February 25, 2011 Pound's tumbling... Quote Share this post Link to post Share on other sites
Blue Peter Report post Posted February 25, 2011 In the MPC minutes they admitted that they don't really understand why import growth is so high considering sterling has fallen so much. I had naively assumed that it's because we have a structural trade deficit. If sterling falls, we have no choice but to pay more for our imports, because we "need" them. As someone said recently, the fact that sterling has fallen, doesn't mean that toy factories start popping up in the Midlands. But I assume that there must be more to it than that if the MPC are puzzled, Peter. Quote Share this post Link to post Share on other sites
Reck B Report post Posted February 25, 2011 next Q's figures are the ones to watch out for. if they are negative, we're 'back' in the recession we never really left without pumping the economy with wads of magic money. Perhaps the MPC will then accept that low interest rates cannot pull us out of this one and will want to get it over and done with, fast, whacking them up to the heady highs of 0.75% Quote Share this post Link to post Share on other sites
rantnrave Report post Posted February 25, 2011 FAIL! The global economy as a whole is growing at between 4 and 5% a year right now. The UK economy should be growing now with the huge pickup in activity in the developing world. I am sure both France and Germany are seeing rising production as orders come in from around the world. +1. I predict both Greece and Ireland's economies to be growing more than the UK by 2013. Quote Share this post Link to post Share on other sites
Bloo Loo Report post Posted February 25, 2011 FAIL! The global economy as a whole is growing at between 4 and 5% a year right now. The UK economy should be growing now with the huge pickup in activity in the developing world. I am sure both France and Germany are seeing rising production as orders come in from around the world. how are you working that out?....is it the 100 trillion they (Davos) proposed to create in the next 10 years?.....that would give you your figuers with no wealth increase at all I would wager. Quote Share this post Link to post Share on other sites
EmmaRoid #FBPE#JC4PM#GTTO Report post Posted February 25, 2011 (edited) In the MPC minutes they admitted that they don't really understand why import growth is so high considering sterling has fallen so much. Anyone got any theories as to why? Which sector? Food, tech, mech, clothing? Oil/gas? Edited February 25, 2011 by daiking Quote Share this post Link to post Share on other sites
MrFlibble Report post Posted February 25, 2011 I was up for an upward revision to seal the interest rate deal. Another spanner in the works now. Me too, guess Merv will be pawing at the QE button again now Quote Share this post Link to post Share on other sites
Lepista Report post Posted February 25, 2011 next Q's figures are the ones to watch out for. if they are negative, we're 'back' in the recession we never really left without pumping the economy with wads of magic money. Perhaps the MPC will then accept that low interest rates cannot pull us out of this one and will want to get it over and done with, fast, whacking them up to the heady highs of 0.75% Nah - next month it will be blamed in Libya, and the rising price of oil. Quote Share this post Link to post Share on other sites
