Thursday, Apr 25, 2013

0.3% ~ Phew!

SKY: UK Economy Just Avoids Triple-Dip Recession

The UK economy returned to meagre growth in the first quarter of 2013, averting the prospect of a triple-dip recession.

Posted by alan @ 09:36 AM (3454 views)
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1. hpwatcher said...

Well, not this time. But the fat lady ain't singing yet........

Thursday, April 25, 2013 09:44AM Report Comment

2. Collywolly said...

Cuts to wages, increases in taxes, inflation rising faster than wages, to achieve 0.3% "growth".
What is the point in this so called growth, when living standards by all other measures are clearly falling?

Thursday, April 25, 2013 10:32AM Report Comment

3. reticent said...

Quite surprising really. The forward indicators were all conflicting.

Worth remembering that Q3 2012 was largely fuelled by the Olympics, so this is the first quarter of potentially sustainable growth in over a year.

I can't see it lasting, though. I imagine it'll keep bouncing around enough to keep us out of recession, but stagnating at best.

Thursday, April 25, 2013 11:40AM Report Comment

4. mrmickey said...

Is this adjusted for inflation of 8%.

Thursday, April 25, 2013 12:32PM Report Comment

5. reticent said...


One of the biggest questions I have about macroeconomics is exactly that.

How do they calculate the inflation rate for real gdp?
Is it CPI, RPI or something else?
Did it change to CPI when everything else did?

I don't think the opinion that the inflation figures have been rigged is unique to here. I hear people say it all the time. If we're using CPI, the recession never really ended.

Thursday, April 25, 2013 01:09PM Report Comment

6. dill said...

Ambrose Evans Pritchard pretty well covers it:

"This was old-fashioned fiscal pump-priming"


Thursday, April 25, 2013 01:17PM Report Comment

7. mark wadsworth said...

House prices set to soar after miraculous economic turnaround!

Thursday, April 25, 2013 01:20PM Report Comment

8. doomwatch said...

"first estimate" say no more. If one were a builder, one could possibly say "double it", but that would be pouring scorn on such an honest and transparent profession.

Thursday, April 25, 2013 04:05PM Report Comment

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