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Gordon's Growth Figures Thrown Into Doubt

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Growth figures thrown into doubt by industry slowdown

By Edmund Conway, Economics Editor

(Filed: 08/08/2006)

The Office for National Statistics may have to revise its most recent estimate of economic growth downwards, experts said after figures showed that manufacturing fared worse than expected in June.
The sector expanded only narrowly, suggesting firms are still struggling to cope with record energy prices..../
"There is a global boom in manufacturing output, but this is enough to produce only a modest expansion in UK manufacturing output, and little or no sustained expansion in overall UK industrial production.
"Unless sterling falls sharply or there is some big reduction in costs, then modest growth may be as good as it gets for UK manufacturing."

As the econony begins to contract and the pound soars there could be a bumpy road ahead. Energy costs, unemployment, slowing industry, twin-deficits, record repossessions, record borrowing all add up to one hell of a mess for Gordon.

Not long now before it all goes pear shaped.

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With inflation at around 7%, manufacturing growth is negative, jobs are going, companies are selling up for brownfield site gain/planninggain and shifting abroad or simply turning their business into a warehouse selling imported product. New companies are not starting beause small business onwers neither have the money or the incentive to do so in the face of some of the highest costs in the world and a dirty great lead weight round their neck (a combination of mortgage, red tape, high rents, high rates, etc etc).

Industrially the UK is going down the toilet.

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Hmm, the only purpose to doing this would be to put pressure on the BOE to lower IR....

BoE main concern is to target inflation, not growth!

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  • 301 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%

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