Q2 Gdp Results

[OzzMosiz]

Supposed to be out today, anyone seen the figures?

[jp1]

Supposed to be out today, anyone seen the figures?

ONS and Brown probably busy "revising" them

[the end is a bit nigher]

tomorrow

[Golden Shower]

GDP up 0.8% on the quarter. Of course this makes a complete mockery of what the perma bears insisting that we are in a recession. I would guess the BoE pretty much knew this was in the pipelin before the rate hike.

Here's one tasy nugget;

Compensation of employees, measured at current prices, rose by 0.8 per cent and is now 6.1 per cent above the level seen in the second quarter of 2005.

Great times for those of us in the right sectors and who are able to keep the spending in check. Another year or so of this and I would have managed to inflate my way to safety and a relatively good position.

[Realistbear]

GDP up 0.8% on the quarter. Of course this makes a complete mockery of what the perma bears insisting that we are in a recession. I would guess the BoE pretty much knew this was in the pipelin before the rate hike.

Here's one tasy nugget;

Great times for those of us in the right sectors and who are able to keep the spending in check. Another year or so of this and I would have managed to inflate my way to safety and a relatively good position.

But.......................the growth is consumer SPENDING. Not good. Recessions start slowly in the beginning and they start out West and move inexorably Eastward like a menacing claw that inches toward you as you try to back further and further into a corner that has a giant hole in the floor.........

[DabHand]

What about the 1.5% increase in the deflator for the same period?

[apom]

GDP up 0.8% on the quarter. Of course this makes a complete mockery of what the perma bears insisting that we are in a recession. I would guess the BoE pretty much knew this was in the pipelin before the rate hike.

Here's one tasy nugget;

Great times for those of us in the right sectors and who are able to keep the spending in check. Another year or so of this and I would have managed to inflate my way to safety and a relatively good position.

Protect yourself against IR's

read my link, and everything else both gordon and merv have said about inflation and how they are going to fight it..

FIXED RATE DEBT

[Della]

GDP up 0.8% on the quarter. Of course this makes a complete mockery of what the perma bears insisting that we are in a recession.

Given that the deflator is 1.5% the real rate of growth is -0.689%

So in real terms the country is in period of contraction in real terms because although nominal GDP is increasing the GDP deflator cancels out that growth because the value of money has dropped meaning that there is a real terms contraction. I thought that was quite clever when I spotted that, they could give lessons on how to lie with statistics.

In any case this commits the goverment to act as if our economy was growing fairly fast even though it is actually shrinking. It may be the case that the try to control the level of inflation so it always looks like the economy is growing in nominal terms even when it is shrinking in real terms because "there's no more boom and bust under Labour blah blah blah etc, etc, etc".

Edited August 25, 2006 by Della