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Uk Gdp Growth Slows To 0.5%

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ONS figures shows pace of economic growth is slowing due to a cooling of the global economy and sluggish domestic demand

Britain’s economic growth slowed in the third quarter of the year, hit by the cooling global economy and weaker domestic demand.

Rolling coverage of Britain’s growth figures for the third quarter of 2015
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Figures from the Office for National Statistics showed GDP grew at 0.5% in the three months from July to September, down from 0.7% in the previous three months.

This was a bigger slowdown than had been expected in the City, where most economists were forecasting 0.6%, and is likely to fuel fears that Britain’s economic recovery is faltering.

Following the disappointing figures, chancellor George Osborne said the UK economy continued to outperform other major economies but Britain “must live within our means.” [more at link]

http://www.theguardian.com/business/2015/oct/27/uk-gdp-growth-slows-george-osborne?CMP=Share_AndroidApp_Facebook?CMP=Share_AndroidApp_Facebook

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No wonder Carney is saying interest rates won't be going up! Although there is the point that low interest rates aren't exactly stimulating the economy.

Can't wait to see what happens to the growth figure when the tax credit cuts kick in. The fear of these cuts might start people on low incomes cut spending before any cut actually happens, that could give Osborne a bit of a problem.

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Osborne claims we muct live within our means, on the other hand I guess he realises we never will. The promises to the masses are too big and the tax take will always be too weak, you can't just start dismantling the welfare state primarily to pensioners. Budget deficits forever, and a wealthy boomer generation sopping up the gilt issues to cover the deficit for now.

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RBS Economics @RBS_Economics 58m58 minutes ago

Top 10 worst performing sectors in Q3. Iron and steel struggling but coal mining collapses.

CSUVT1ZW0AEEJYt.jpg

RBS Economics @RBS_Economics 1h1 hour ago

The top 10 fastest growing sectors in Q3. Coke, music and booze lead the way.

CSUSsoAWoAAuxiT.jpg

March of the alcoholics (or stagger probably)

Edited by R K

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Crappy GDP at the expense of £80Bn extra debt a year, mass immigration, and with the UK already paying £1.2Bn a week in interest alone on the debt pile.

Indeed crappy; more people, more consumption and more debt is good so long as China keep accepting our IOUs. But the political urban class want it to fill their BTLs so we will just have to suck up the debt and become an overcrowded Island.

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Take into account population increase and those GDP figures are even worse.

Yup.

What was it? 917,000 new national insurance numbers issued this year.

30.8 million workers.

Shouldnt it be growing at 3% even if productivity is stagnant?

Back to the negative salary figures of the past 8 years, I guess.

Still, Im sure a million or so illegal Eritrians/Pakistanis/Sudanese Syrians will improve things.. even if they arent nuclear engineers, they count prozzies and drug pushers now, after all.

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The oil price has dropped a lot in the last few days so hopefully it's finally headed for the $20/30 mark - the petrol price still has to catch up with current oil price levels. Every little helps.

Edited by billybong

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RBS Economics ‏@RBS_Economics 58m58 minutes ago

Top 10 worst performing sectors in Q3. Iron and steel struggling but coal mining collapses.

CSUVT1ZW0AEEJYt.jpg

RBS Economics ‏@RBS_Economics 1h1 hour ago

The top 10 fastest growing sectors in Q3. Coke, music and booze lead the way.

CSUSsoAWoAAuxiT.jpg

March of the alcoholics (or stagger probably)

That's great. It's all those bottle of vino a night boomers selling houses to each other or getting into BTL keeping the economy going.

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No wonder Carney is saying interest rates won't be going up! Although there is the point that low interest rates aren't exactly stimulating the economy.

Can't wait to see what happens to the growth figure when the tax credit cuts kick in. The fear of these cuts might start people on low incomes cut spending before any cut actually happens, that could give Osborne a bit of a problem.

I thought that the tax credit cuts were 'on hold' for the moment after the Lords pushing back?

I wouldn't be surprised if he hadn't thought out the immediate consequences of cutting down on tax credits due to his 'undo all Labour's benefits' dogma - they are a bit like 'people's QE' and 'welfare for workers' rolled into one.

Whilst I agree that they should be eliminated, simply slashing away at them willy nilly is going to exacerbate an already slowing economy and rile the serfs.

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That's great. It's all those bottle of vino a night boomers selling houses to each other or getting into BTL keeping the economy going.

Indeed. If it wasnt for that Osbourne would be in a right pickle.

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RBS Economics @RBS_Economics 58m58 minutes ago

Top 10 worst performing sectors in Q3. Iron and steel struggling but coal mining collapses.

CSUVT1ZW0AEEJYt.jpg

RBS Economics @RBS_Economics 1h1 hour ago

The top 10 fastest growing sectors in Q3. Coke, music and booze lead the way.

CSUSsoAWoAAuxiT.jpg

March of the alcoholics (or stagger probably)

Shocking really. Basically anything productive shrinking but on the bright side we are selling more foreign holidays and over-priced property. Completely out-of-balance economy and we exacerbate it year-on-year.

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Been saying I've been seeing signs of sharply slower growth in 2016 or even outright recession. So it begins.

let's face it, unless you were in the London property game and recently cashed out, it never actually ended

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Printy Printy....

Jeremy Warner is worried about the Towel Master falling into his own fiscal trap.

In Britain, Osborne has all but ruled out any further fiscal expansion with his newly enacted Budget surplus rule. This is quite a gamble on Britain continuing to show superior rates of growth. The US expansion is now into its sixth year, making it longer than most. As sure as night follows day, some kind of a downturn is coming, possibly sooner rather than later. Are we to meet it by pushing real interest rates even further into negative territory, or with another great burst of money printing, further inflating already unsustainably high asset prices?

http://www.telegraph.co.uk/finance/economics/11958948/On-the-economy-George-Osborne-is-in-danger-of-falling-into-his-own-trap.html

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Been saying I've been seeing signs of sharply slower growth in 2016 or even outright recession. So it begins.

Good-o. Corbyn shoe in for 2020. 4 years of the marxist one bleating about how we'll all be millionaires if we print a few trillion corbyn-quids and import a couple million congolese syrian rocket scientists. That ought to guarantee my blood pressure stays high till the end of the decade.

Edited by Executive Sadman

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fck growth

fck breeding incessantly

fck relentless immigration.

Good-o. Corbyn shoe in for 2020. 4 years of the marxist one bleating about how we'll all be millionaires if we print a few trillion corbyn-quids and import a couple million congolese syrian rocket scientists. That ought to guarantee my blood pressure stays high till the end of the decade.

Even if that were true, I'd rather that than some over privileged lego-haired pig-fcker telling me how their version of growth was going to benefit me as they prized me into my 1984esque bedsit.

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fck growth

fck breeding incessantly

fck relentless immigration.

+ an awful lot

We're stuck with them though since I see no hope to an end of the lunatics running the asylum (and what proportion of the population belong in said asylum anyway?)

Edited by Riedquat

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