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

Services Pmi Joins The Production Pmi...down

Recommended Posts

Its all locked in, nothing to fear, keep calm etc etc

http://uk.news.yahoo.com/uk-services-pmi-suffers-biggest-drop-decade-083217062.html

Depression here we come, this huge fall in services growth is not surprising. The rise the month before was the real surprise. We are going for an export lead recovery with the US heading for / in recession and the Euro about to implode. Who are we meant to export to?

More QE will come in a few months but will not help growth; at least we can prevent the banks from collapsing.

More creative policy going to be needed or we can look forward to no growth for a few decades.

Share this post


Link to post
Share on other sites

This good news has been reflected in rising UK bond prices. Clearly the collapse in service output has made our nation more solvent.

If someone could explain to me why, I would be glad to hear it, cos I dont have a clue.

Share this post


Link to post
Share on other sites

Most of my clients are contracting - have been for months. Now is far worse than during the official recession. Far worse. Discretionary spending has fallen off a cliff!

I'm working all hours of day and night trying to keep people afloat. Horrible.

Edited by gruffydd

Share this post


Link to post
Share on other sites

Most of my clients are contracting - have been for months. Now is far worse than during the official recession. Far worse. Discretionary spending has fallen off a cliff!

I'm working all hours of day and night trying to keep people afloat. Horrible.

What is your job. Buoyancy services at P&O cruise lines?

Share this post


Link to post
Share on other sites

The figure was above 50, so positive. Just less positive than expected. not the end of the world, but heading that way.

Yep but so much below forecast is real blow. My business sells to the service sector so i dont want to see a fall but if you poll consumer sentiment and sit in on the business briefings most businessess are amazed they are turing in OK numbers given the conumer feeling.

Share this post


Link to post
Share on other sites

Most of my clients are contracting - have been for months. Now is far worse than during the official recession. Far worse. Discretionary spending has fallen off a cliff!

I'm working all hours of day and night trying to keep people afloat. Horrible.

SORRY TO HEAR THAT, but not surprised. I have friends who weathered the first recession but are on the edge now with orders falling sharply in construction. Talk of shutting up shop and seling the house is on their lips. Retail has fallen off the cliff for most retailers as I said about 6 weeks ago on here. Services that will now be affected will be restaurants and even some gyms, art shops/picture framers, fancy goods, al except top ens clothing will recede - usually the smaller ones first. Manufacturung exports wil now slow sharply as the world gugrles down the same drain called debt mountain. And when we are out again, the greeen shoots will arrive.

Best thing we could do is to put up interest rates to 4% base rate for mortgages and stop ripping savers off by giving their money to over margined banks who have now had all their lost money back and more. We should enforce 2.2x incomes + 0.5 second income multiples, across the board, with 95% LTV maximum enshrined in law. A two tier base rate system could be employed. Pull the rediculous home and lnad prices down to match incomes. Don't then waste so much on housing benefit paying silly rents, or spend time telling people they cannot afford a tiny 3 bed home because it's 10 times their income.

Share this post


Link to post
Share on other sites

Saw this linked from that site....

"How I'd Improve the Housing Market for First Time Buyers"

(lots of comments)

http://uk.news.yahoo...-124112916.html

In fact just before the bankers and the presenters of Top Gear (none of whom would be afforded the dignity of a clean death by firing squad.)

He wants to execute James May?

:ph34r:

Share this post


Link to post
Share on other sites

Could be an interesting week on the services front as aren't a lot of commercial rents for the quarter due in the first week of September?

Got my dates wrong they are due last week in September.

Getting very deja vu signals back to 2008.

Edited by conflict

Share this post


Link to post
Share on other sites

PR and Direct Marketing - across many different sectors.

That doesn't sound like the sort of activity which enables you to go round saving others. Or is throwing an anchor to a drowning man chalked up as another rescue?

Share this post


Link to post
Share on other sites

That doesn't sound like the sort of activity which enables you to go round saving others. Or is throwing an anchor to a drowning man chalked up as another rescue?

I don't know that level of hot air fro blue sky industry (we rtain a few so this is in jest) could lift may to safety ;)

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.

  • 284 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.