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Uk Economy Growing Faster Than Forecast, The Ons Says

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http://www.bbc.co.uk/news/business-25461227

The UK economy is growing faster than previously estimated, according to the latest official figures.

The Office for National Statistics (ONS) said gross domestic product was up 0.8% in the July-to-September period compared with the previous quarter, confirming its previous estimate.

But it revised its growth figures for earlier quarters.

Merry Christmas.

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The economy is not recovering in any balanced sort of way! Just as I have been saying recently, the balance of paymenst is a disatser, indicating we are not paying our way! Also, the export led recovery is non existent - it is nothing more than a very weak recovery indeed with a mini housing price boom stuck on top. Read it below....real wages are falling, savings are falling, people need food banks in ever greater numbers, people cannot afford rents, interest rates are too low and distorting everything - including holding up home prices. A few rich people are doing very nicely on the wave of free money flowing into banks at the press of a button on the false basis that we need this to cause growth and pay back our debts with it.

http://www.theguardian.com/business/2013/dec/20/uk-trade-deficit-share-gdp-ons

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Britain's current account deficit ballooned to its widest since 1989 in the third quarter, suggesting its strong recovery is vulnerable to weak growth overseas and highlighting concerns that the economy remains unbalanced.
Figures on Friday nevertheless showed the government borrowed more in November than in the same month last year.

The savings ratio fell to 5.4 percent from 6.2 percent in the second quarter as weak growth in household income prompted people to eat into their savings.

http://uk.reuters.com/article/2013/12/20/uk-britain-economy-idUKBRE9BJ0CT20131220

They can pump out all the propaganda they want. They can manipulate the statistics and economic reports all they want but the recovery is still built on unsustainable debt. Nothing has improved.

The depression hasn't even begun.

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http://uk.reuters.com/article/2013/12/20/uk-britain-economy-idUKBRE9BJ0CT20131220

They can pump out all the propaganda they want. They can manipulate the statistics and economic reports all they want but the recovery is still built on unsustainable debt. Nothing has improved.

The depression hasn't even begun.

[b]AND I have said the growth we see is unbalanced frequently on this site- Don't take it from me:[/b]

[b]"The Bank of England and economists have also been concerned that the recovery is unbalanced in a way that could ultimately prove unsustainable - with too great a reliance on household consumption and insufficient exports and business investment.

Friday's data showed business investment starting to improve but painted a bleak picture on trade.

"If the recovery is to be sustained at a healthy pace, it really does need a marked, extended pick up in business investment and for exports to improve markedly," said Howard Archer, an economist with IHS Global Insight."[/b]

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