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U K Regains Pole Position In "sick Man Of Europe" Stakes

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http://www.thisismoney.co.uk/news/article....mp;in_page_id=2

Sorrell lashes 'sick man' Britain

Robert Lea, Evening Standard
18 August 2006
THE British economy is not as good as we think it is, and is the reason the UK remains the sick man of global corporate spending.
That is the verdict - a distorted echo of Harold Macmillan's famous 'you've never had it so good' of almost 50 years ago - of Sir Martin Sorrell, chief executive of WPP, the international advertising and marketing giant.
The company today shrugged off the sluggish performance of its home domestic market to post soaring profits and issue an otherwise generally upbeat forecast for the next couple of years.
Reporting like-for-like revenue growth in the UK of just 1.2% against growth in the US and western Europe of 4.5%, and of 9.4% in emerging markets - substantially China, India and Brazil - Sorrell said: 'We have been saying it's difficult in the UK for the last couple of years. We have been accused of being a bit negative but I would say we have been realistic.

Hang on a minute, we may be the worst performing economy in most of the world BUT--and its a big BUT--we have the highest house prices so there! Hang on............................... :o

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'The fact is in the UK the general economy may not be as good as we think it is. In a low inflation environment, it is difficult to let prices rip. Costs are being kept under control and ultimately the consumer has all the power.'

So this guy is whinging because competitive pressures and a stable low inflation economy means he can't get away with ripping us off with expensive marketing? If this guy was an EA you'd be lambasting him for being a VI...

Edited by IamSpartacus

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He also said this:

'in the UK [...] In a low inflation environment, it is difficult to let prices rip. Costs are being kept under control and ultimately the consumer has all the power.'

The whole article is just an extended complaint that he can't get exciting looking growth figures because inflation isn't high enough in the UK.

Edited by Della

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He also said this:

'in the UK [...] In a low inflation environment, it is difficult to let prices rip. Costs are being kept under control and ultimately the consumer has all the power.'

The whole article is just an extended complaint that he can't get exciting looking growth figures because inflation isn't high enough in the UK.

:lol::lol::lol:

Is this guy on the same planet?

He must mean low WAGE inflation environment...

Hang on a minute, we may be the worst performing economy in most of the world BUT--and its a big BUT--we have the highest house prices so there! Hang on............................... :o

Gosh, maybe something is filling this apparent 'gap' - debt maybe?

Edited by dnd

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UK's economy is avoiding recession because of increasing MEW correct? 5-9% of yearly retail gdp which accounts for 70 odd % of our overall GDP.

Basically we are already terminal, its just the regular shots of morphine/credit keeping us smiling (with a nice string of drool hanging off the chin there).

Wakey wakey, time to die!

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UK's economy is avoiding recession because of increasing MEW correct? 5-9% of yearly retail gdp which accounts for 70 odd % of our overall GDP.

Basically we are already terminal, its just the regular shots of morphine/credit keeping us smiling (with a nice string of drool hanging off the chin there).

Wakey wakey, time to die!

If they had a buisness in Zimbabwe corporate spending would be up 1000% year on year versis 1% here, does that mean that Zimbabwe has the heathiest economy in the world? In any case the fact that his company is up 1% in Britain might just mean he's not really that good compared to British companies.

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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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