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Uk Economy Grows Strongly In Second Quarter

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http://uk.reuters.com/article/2014/09/30/uk-britain-economy-idUKKCN0HP0QI20140930

Britain's economy is bigger than previously estimated and stood at 2.7 percent above its pre-crisis peak at end of the second quarter, according to new official figures on Tuesday.

The data from the Office for National Statistics, which reflect new methods of calculating gross domestic product (GDP), and showed Britain's economic output exceeded its peak before the 2008-09 recession in the third quarter of 2013.

Previously, it was thought Britain achieved this only in the second quarter of this year, when it was estimated to have exceeded the peak by just 0.2 percent.

The new estimates are part of European Union-wide changes to national accounts designed to better measure the size and scope of its economies, coupled with other adjustments made by the ONS.

The data are likely to be welcomed by the Conservative-led government ahead of a national election next year, although it showed they showed the economy grew 1.7 percent in 2013 -unchanged from the previous estimate.

The ONS also said Britain's gross domestic product (GDP) grew 0.9 percent on the quarter in the three months from April to June this year, a slight increase from 0.8 percent.

The fake recovery goes from strength to strength. It's almost like an election is due.

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I estimated 3.5% GDP growth for 2014 back in December on this forum. Not quite so confident now, the Nationwide stats point to a housing market hitting the buffers...and at the end of the day housing, banking and the public sector is the only thing we do isn't it.

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Britain's economy is bigger than previously estimated

No it isn't - they've just changed how it's calculated to massage the figures up. Massaging already massaged figures - massage ultra.

Didn't reuters have a reputation for integrity in their news - on the other hand maybe they were always as bad as their headline suggests.

At any rate it's the GDP - the scamsters' stat.

Edited by billybong

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The economy and growth is for sure better for some....not for many others, but it is the others that keep the few with a voice feeling good about the future. ;)

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They can fake whatever figures they like. At the end of the day people will look in their pockets, see how much money they don;t have and vote accordingly. All the propaganda in the world won't change that otherwise North Korea would be the best place in the world!

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The data from the Office for National Statistics, which reflect new methods of calculating gross domestic product

Heh. :D

Thankfully they will be doing a new "more accurate" house price index soon.

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http://uk.reuters.com/article/2014/09/30/uk-britain-economy-idUKKCN0HP0QI20140930

The fake recovery goes from strength to strength. It's almost like an election is due.

Luckily we found new ways of calculating the growth....plus they are looking to ban extremist groups who might point this out

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Luckily we found new ways of calculating the growth....plus they are looking to ban extremist groups who might point this out

I guess it's all about relativity...the rest of the world have been lying about their growth for years, so we have to join them to meet international standards of accounting.

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I estimated 3.5% GDP growth for 2014 back in December on this forum. Not quite so confident now, the Nationwide stats point to a housing market hitting the buffers...and at the end of the day housing, banking and the public sector is the only thing we do isn't it.

3rd sector is booming

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