Economic Recovery? no, not here...
- 13 August 2009 10:2627106In Germany and France.... they announced that they've come out of recession already. Both economies grew by 0.3 percent in the second quarter of the year - in contrast to the UK economy, which shrank by 0.8 percent.
Brown will no doubt still be repeating his mantra of international recession. Remember when the German's critisised Brown's borrowng spree...
This perhaps gives a clue to the 'added value' or rather 'added poverty' created by Brown's domestic economic policy. - 13 August 2009 10:4927110Barry
If only WE were part of the Eurozone, eh?
- 13 August 2009 12:2727116This is another example Mark of BarryW picking out the part of the story that suits him I think. This may be selective spin from him or it could be that he dont know nuffink about economics.
The Eurozone went into recession before the UK and is now on the up and most of us are hoping that we'll follow suit soon. I think that the Thatcherite wing of the Tory party probably want our country to be in recession in May or June next year for their own political reasons which is sad and probably unpatriotic. - 13 August 2009 13:5027118Mark, hardly. Life would be a lot harder if we were. We just happen to have had a particularly incompetent Government running things for the last 12 years, driving the economy into the ground.
Sid - actually you might find that the UK was in first. The revised figures released about 2 months ago demonstrated we went in recession earlier than originally thought. First in and likely last out, more bad news today. You do love to cast aspertions with no evidence or proof. the fact is you could not be more wrong. Brown is toast whatever happens to the economy. You should look at the lastest figures and expectations, not good. - 13 August 2009 14:4527120Barry
apparently it's not quite so clear cut:
"However, the outlook remains mixed for Germany's export-led economy, where success hinges on global demand. Although recent figures suggested an improvement in exports and industrial orders, both key indicators of the country's economic health, the economy as a whole is expected to contract sharply in 2009. Second-quarter GDP still trails 7.1 percent behind the same period last year.
Countering the tentative signs of a recovery, German unemployment is on the rise and retail sales reflect weaker domestic demand. At the same time, more and more firms are going bust. In May, the number of bankruptcies increased by almost 15 percent, compared with the same month in 2008. Making the headlines, Germany's high-profile fashion house Escada, filed for bankruptcy protection this week, in part due to slumping global demand for its high-end garments".
http://www.spiegel.de/international/europe/0,1518,642203,00.html
One swallow does not a summer make!
Mark - 13 August 2009 17:2227138Mark - quite right but a feeble recovery is better than no recovery, they grew 0.3% in a period where we fell 0.8% a significant difference. When we start recovery, hopefully by the new year, it will also be very weak and feeble initially. And yes, unemployment is a trailing indicator, it always continues to grow for a fair period after recovery starts, indeed bankrupcies do not stop immediately either. So there is nothing at all surprising in what you posted, its a lot better than our position in the same quarter by a wide margin.
- Brian Dixon
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13 August 2009 17:2427139barry,a recovery is a recovery no matter how small.at least its a start. - 13 August 2009 18:4027145Yes, your point is.... it is true of the German and French economies who are in growth at 0.3% while we are still shrinking at 0.8% - I was making exactly your point to Mark.
- 13 August 2009 18:4027146Yes, your point is.... it is true of the German and French economies who are in growth at 0.3% while we are still shrinking at 0.8% - I was making exactly your point to Mark.
- 13 August 2009 19:5127151one set of quarterly figures barry.
i would want to see how the next 3 quarters go before deciding that they are on their way again.