Uk Growth Back At Trend Rate, Oecd Says - 2%

[interestrateripoff]

http://www.telegraph.co.uk/finance/economics/9984358/UK-growth-back-at-trend-rate-OECD-says.html

The Paris based think tank said its composite leading indicators, which have a good track record of predicting changes in economic fortune six months in advance, pointed to growth being “around trend”.

Britain’s prospects have been improving since the end of last year, the OECD found, and growth is now picking up in most industrialised countries – including the eurozone.

The recovery is currently strongest in the US but the monthly indicator for all 33 OECD member countries inched up to 100.5 in February from 100.4 in January, slightly above the long-term average of 100. The eurozone remains below par but the OECD found signs of “growth picking up”.

The OECD’s improving outlook came as the World Trade Organisation slashed its forecast for growth of global trade from 4.5pc to 3.3pc this year. Trade grew by just 2pc last year.

WTO director general Pascal Lamy warned that 2013 could turn out even weaker than expected, particularly because of risks from the euro crisis, and countries might try to restrict trade further in a desperate attempt to shore up domestic growth.

And what level of growth do we need to create jobs?

Then there's the exponential function, 2% growth over the long term is impossible to sustain.

Still more worthless words from experts.

[Executive Sadman]

More like we have population growth compared to much of europe and just lie about inflation to make up the rest.

[The Knimbies who say No]

The change in imputed rents accounts for something like a quarter of nominal GDP growth since 2007.

[Bloo Loo]

The change in imputed rents accounts for something like a quarter of nominal GDP growth since 2007.

heres a prediction....imputed rents will be collected one day.

[Tired of Waiting]

http://www.telegraph.co.uk/finance/economics/9984358/UK-growth-back-at-trend-rate-OECD-says.html

"Engage"

[zugzwang]

I doubt if these gypping morons could find their own backsides without a set of instructions.

05/09/07 07:09 CET

The OECD has cut its 2007 growth forecasts for the US and the Eurozone.

The GDP forecasts for the G7 have been downwardly revised, because of weakening confidence. This follows the subprime mortgage crisis. The OECD says this shows there should be more regulation in the housing market. OECD chief economist Jean Philippe Cotis said the market upheaval occurred at a time when world economic momentum was strong. That means that downward revisions to the growth forecasts so far are modest. The growth forecast for the US is now cut from 2.1percent to 1.9 percent.

The Eurozone is also projected slightly lower, having lost point one of a percent. But the forecast for Japan remains stable at 2.4 percent. For the UK though, there was good news as the forecast growth was up from 2.7 percent, to 3.1 percent. The OECD said the European central Bank should still be looking to raise interest rates, currently 4 percent, to counter inflation. Confidence is not expected to return till the banks give their next results in October.

[yellerkat]

I doubt if these gypping morons could find their own backsides without a set of instructions.

Quite. If it's all good then why this from a few minutes ago:

Ed Conway

https://twitter.com/EdConwaySky' rel="external nofollow">

‏@EdConwaySky 4m

BoE's David Miles:

Current state of the economy "implies having a very, very expansionary monetary policy

." More on @skynews soon.

[The Knimbies who say No]

Quite. If it's all good then why this from a few minutes ago:

Ed Conway

‏@EdConwaySky 4m

BoE's David Miles:

Current state of the economy "implies having a very, very expansionary monetary policy

." More on @skynews soon.

Nothing out of the ordinary for Miles, but language like this is pretty stupid.

Finance & Stock Market News

BoE's Miles urges "very, very expansionary" monetary policy

Wed, 10th Apr 2013 12:47

LONDON, April 10 (Reuters) - Weak economic growth and subsiding price pressures suggest Britain's central bank should run an extremely loose monetary policy, Bank of England policymaker David Miles said on Wednesday.

"Growth remains very weak. That's why I think it makes sense for us to assess where the trajectory of inflation is likely to be - I think on the whole it's downwards - and to set monetary policy in a way consistent with inflation moving back to target but also to support growth," Miles told Sky News.

"I think at the moment that implies having a very, very expansionary monetary policy."

Miles is the most dovish member of the nine-member monetary policy committee and has consistently argued that the central bank should be doing more to support growth.

http://www.lse.co.uk/FinanceNews.asp?code=4r8u5z8p&headline=BoEs_Miles_urges_very_very_expansionary_monetary_policy

[Tired of Waiting]

Nothing out of the ordinary for Miles, but language like this is pretty stupid.

http://www.lse.co.uk/FinanceNews.asp?code=4r8u5z8p&headline=BoEs_Miles_urges_very_very_expansionary_monetary_policy

Unless he was the "BoE staff" visiting that gold site...

[The Knimbies who say No]

heres a prediction....imputed rents will be collected one day.

By whom? They are paid to, and owed by, the same person(s). Council tax is a rough attempt to get in on the action I suppose.

[frederico]

I've paid myself loads of imputed rent,

[The Knimbies who say No]

I've paid myself loads of imputed rent,

So long as you can afford the increases, there's no harm in jacking it up a bit to increase your income stream I suppose.

[Mr X]

http://www.telegraph.co.uk/finance/economics/9984358/UK-growth-back-at-trend-rate-OECD-says.html

And what level of growth do we need to create jobs?

Then there's the exponential function, 2% growth over the long term is impossible to sustain.

Still more worthless words from experts.

Ah so. Now that everything is tickty-boo we can expect interest rates to return to "normal". Light blue touch paper and retreat to a safe distance (north Korea?)

[rit]

http://www.telegraph.co.uk/finance/economics/9984358/UK-growth-back-at-trend-rate-OECD-says.html

And what level of growth do we need to create jobs?

Then there's the exponential function, 2% growth over the long term is impossible to sustain.

Still more worthless words from experts.

In the past it was often quoted that 1.5-1.75% was needed to just keep up with productivity gains so logic would say that growth only happens above this rate (as productivity gains do not cause extra employment) - anything below means going backwards (so a recession).

You can see why such a figure is not quoted much nowadays as it would indicate that things have not improved much over the last 20 odd years, which oddly enough is about right.

If you take productivity gains into account it is quite possible to sustain a positive growth rate - it does not mean that things improve, but rather that they do not get worse.