Figures just out show the U.S economy shrank first quarter. Figures yesterday showed the UK economy stagnating, not getting the expected revision upwards. Eurozone economy now growing, Italy back to growth, Ireland flying, and Spain flying too seeing first quarter 0.9% GDP, three times faster than the UK. Perhaps we in the eurozone should start worrying about the U.S and UK.:p
Figures just out show the U.S economy shrank first quarter. Figures yesterday showed the UK economy stagnating, not getting the expected revision upwards. Eurozone economy now growing, Italy back to growth, Ireland flying, and Spain flying too seeing first quarter 0.9% GDP, three times faster than the UK. Perhaps we in the eurozone should start worrying about the U.S and UK.:p
Come back at the end of the year it will be a different story!
To what extent should British voters, the UK government and British business worry about the inevitable collapse of the Euro. And what advice which you give voters, the UK government and business ?
1) Don't worry.
2) You can do nothing about it, so see 1)
I suspect you haven't not given any thought to the implications of the euro collapsing, have you ?
The above didn't overtax me, though I'm not sure if your double negative was a cunning ploy.
From a low baseline. Debt to GDP? Unemployment? Bailout Money Repaid?
We grew 4.8% last year, so that is not a low baseline for this year. Irish government expects us to be best performing in the EU again this year at 4% GDP.
Debt to GDP reducing.
Unemployment down from 15% to single figures in four years.
Debt repayments now being made faster than was initially agreed.
All in all, a spectacular return in such a short time, we were written off by so many. Told it would take years to get growth again and it would be tiny, told we would need a second bailout and we would have to exit the eurozone. Look at us now. And we did that we europe treating us like crap in our bailout and reneging on a bank deal they promised us.
Below a tweet from a Greek analyst on the ground in Greece, always an excellent source for what is really happening. We could still yet have a deal closed by end of weekend.
Yannis Koutsomitis Multiple reports indicate real progress at Brussels Group talks on#Greece. The 'final stretch' may be really near this time.
Figures just out show the U.S economy shrank first quarter. Figures yesterday showed the UK economy stagnating, not getting the expected revision upwards. Eurozone economy now growing, Italy back to growth, Ireland flying, and Spain flying too seeing first quarter 0.9% GDP, three times faster than the UK. Perhaps we in the eurozone should start worrying about the U.S and UK.:p
According to the EU the figures are overall growth in the Eurozone in quarter 1 2015 was exactly the same as growth throughout the EU 0.4%, the US economy grew by 0.1%, the UK by 0.3%. The lastest figure available for Ireland is 0.2% in quarter 4 2014 half what it was in the previous quarter.
Meanwhile Greece is in recession, its GDP contracted by 0.6% in the last 2 quarters.
According to the EU the figures are overall growth in the Eurozone in quarter 1 2015 was exactly the same as growth throughout the EU 0.4%, the US economy grew by 0.1%, the UK by 0.3%. The lastest figure available for Ireland is 0.2% in quarter 4 2014 half what it was in the previous quarter.
Meanwhile Greece is in recession, its GDP contracted by 0.6% in the last 2 quarters.
I was comparing EZ, UK and US GDP figures.
EZ first quarter 0.4%
UK first quarter 0.3%
US first quarter -0.7%
Well your post was doing more than that.
That US figure is an annualised one not the actual growth (0.1%) for the first quarter 2015 which is what the first two are. Bascially the difference in all those quarter 1 2015 figures is pretty much diddly squat.
That US figure is an annualised one not the actual gorwth for the first quarter 2015 which is what the first two are.
I clearly referenced the eurozone in my post. Did not mention the EU in my post. And the last time I checked the UK is not in the eurozone. That US figure is a revised figure out at lunchtime today, so comparing it with revised UK and EZ first quarter figures makes absolute sense. The US figure was initially assumed at +0.2% last month in GDP projections but after the revision today, walloped down to -0.7%
US, Canada and Brazil all contracted in the first quarter of this year.
And UK and German growth has slowed down.
Its fair to say the global economy is experiencing a slowdown again
Yep. I'd agree with that in the main. I think yesterday's UK revised figures suggesting stagnation would add to that. We're still waiting on Irish first quarter GDP figures to be released here, for some reason we always seem to release them later than others.
I clearly referenced the eurozone in my post. Did not mention the EU in my post. And the last time I checked the UK is not in the eurozone. That US figure is a revised figure out at lunchtime today, so comparing it with revised UK and EZ first quarter figures makes absolute sense. The US figure was initially assumed at +0.2% last month in GDP projections but after the revision today, walloped down to -0.7%
Fine my post simply made the point EZ and EU growth rates are the same and comparing them makes as you say absolute sense and no great cause for celebration in the EZ. I hadn't seen the US figure of -0.7% which is an annualised one just the EU figure, anyway the actual US quarter 1 growth is -0.175%.
Fine my post simply made the point EZ and EU growth rates are the same and comparing them makes as you say absolute sense and no great cause for celebration in the EZ. I hadn't seen the US figure of -0.7% which is an annualised one just the EU figure, anyway the actual US quarter 1 growth is -0.175%.
How are you arriving at that figure? Surely you cannot be dividing today's first quarter revised US GDP figure by 4?
How are you arriving at that figure? Surely you cannot be dividing today's first quarter revised US GDP figure by 4?
That's exactly how I got it, which afaik is what an annualised rate means. e.g. it's like the UK's 0.3% growth in quarter 1 gives you an annualised growth of 1.2%.
We grew 4.8% last year, so that is not a low baseline for this year. Irish government expects us to be best performing in the EU again this year at 4% GDP.
Debt to GDP reducing.
Unemployment down from 15% to single figures in four years.
Debt repayments now being made faster than was initially agreed.
All in all, a spectacular return in such a short time, we were written off by so many. Told it would take years to get growth again and it would be tiny, told we would need a second bailout and we would have to exit the eurozone. Look at us now. And we did that we europe treating us like crap in our bailout and reneging on a bank deal they promised us.
It's like talking to a brick wall with you sometimes. A low baseline means you still have a long way to go until your economy is back to pre crash levels.
Greece fell back into recession at the start of the year, with official figures confirming GDP contracted by 0.2pc in the first quarter.
Business investment has also ground to a standstill in 2015, falling in by 7.5pc in the first quarter. Greek exports also shrunk by 0.6pc, according to figures from the country's official statistics body, Elsat.
Greece fell back into recession at the start of the year, with official figures confirming GDP contracted by 0.2pc in the first quarter.
Business investment has also ground to a standstill in 2015, falling in by 7.5pc in the first quarter. Greek exports also shrunk by 0.6pc, according to figures from the country's official statistics body, Elsat.
It's like talking to a brick wall with you sometimes. A low baseline means you still have a long way to go until your economy is back to pre crash levels.
Way to go, ignore 90% of the positivity in that post of mine. The fact that we're on track to maintain excellent GDP figures this year, next year, and the following year tells a story in itself.
Below a tweet from a Greek analyst on the ground in Greece, always an excellent source for what is really happening. We could still yet have a deal closed by end of weekend.
Yannis Koutsomitis Multiple reports indicate real progress at Brussels Group talks on#Greece. The 'final stretch' may be really near this time.
Depends who yopu listen to. Head of the IMF, Christine Lagarde has said that Greece could leave the eurozone but added that the single currency would "probably" survive. She went on to say that it was very unlikely that a comprehensive solution would be reached in the next few days.. At the same time, the ECB warned that the risk of a Greek debt default had increased sharply in recent days.
Comments
Come back at the end of the year it will be a different story!
1) Don't worry.
2) You can do nothing about it, so see 1)
The above didn't overtax me, though I'm not sure if your double negative was a cunning ploy.
I will. And for a second year in a row, a eurozone economy will be the fastest growing economy in the whole of the EU again. That being Ireland again.
From a low baseline. Debt to GDP? Unemployment? Bailout Money Repaid?
We grew 4.8% last year, so that is not a low baseline for this year. Irish government expects us to be best performing in the EU again this year at 4% GDP.
Debt to GDP reducing.
Unemployment down from 15% to single figures in four years.
Debt repayments now being made faster than was initially agreed.
All in all, a spectacular return in such a short time, we were written off by so many. Told it would take years to get growth again and it would be tiny, told we would need a second bailout and we would have to exit the eurozone. Look at us now. And we did that we europe treating us like crap in our bailout and reneging on a bank deal they promised us.
Yannis Koutsomitis
Multiple reports indicate real progress at Brussels Group talks on#Greece. The 'final stretch' may be really near this time.
According to the EU the figures are overall growth in the Eurozone in quarter 1 2015 was exactly the same as growth throughout the EU 0.4%, the US economy grew by 0.1%, the UK by 0.3%. The lastest figure available for Ireland is 0.2% in quarter 4 2014 half what it was in the previous quarter.
Meanwhile Greece is in recession, its GDP contracted by 0.6% in the last 2 quarters.
http://ec.europa.eu/eurostat/documents/2995521/6829212/2-13052015-BP-EN.pdf/1444bdf1-65ba-457d-829b-dee843b0c861
I was comparing EZ, UK and US GDP figures.
EZ first quarter 0.4%
UK first quarter 0.3%
US first quarter -0.7%
Well your post was doing more than that.
That US figure is an annualised one not the actual growth (0.1%) for the first quarter 2015 which is what the first two are. Bascially the difference in all those quarter 1 2015 figures is pretty much diddly squat.
I clearly referenced the eurozone in my post. Did not mention the EU in my post. And the last time I checked the UK is not in the eurozone. That US figure is a revised figure out at lunchtime today, so comparing it with revised UK and EZ first quarter figures makes absolute sense. The US figure was initially assumed at +0.2% last month in GDP projections but after the revision today, walloped down to -0.7%
And UK and German growth has slowed down.
Its fair to say the global economy is experiencing a slowdown again
Though I'm guessing that all sides are BSing for England (so to speak) on this one.
just the normal postwar business cycle of recessions every 7-8 yrs
unfortunately the central banks are still on "emergency" interest rates of 0% and QE printing in EU/Japan and debt levels are still very high
so most of the tools has been used
interesting times ahead
Yep. I'd agree with that in the main. I think yesterday's UK revised figures suggesting stagnation would add to that. We're still waiting on Irish first quarter GDP figures to be released here, for some reason we always seem to release them later than others.
Fine my post simply made the point EZ and EU growth rates are the same and comparing them makes as you say absolute sense and no great cause for celebration in the EZ. I hadn't seen the US figure of -0.7% which is an annualised one just the EU figure, anyway the actual US quarter 1 growth is -0.175%.
How are you arriving at that figure? Surely you cannot be dividing today's first quarter revised US GDP figure by 4?
That's exactly how I got it, which afaik is what an annualised rate means. e.g. it's like the UK's 0.3% growth in quarter 1 gives you an annualised growth of 1.2%.
Apologies. I wasn't taken into account an annualised US figure. So your figure of -0.175% is absolutely bang on. My mistake.
So first quarter revised EZ, UK, US figures are
EZ 0.4%
UK 0.3%
US -0.175% and not -0.7% as I first posted.
Still showing the EZ is growing faster than the UK and US on current first quarter revised figures.
It's like talking to a brick wall with you sometimes. A low baseline means you still have a long way to go until your economy is back to pre crash levels.
Or for Ireland when Irishsprit gets going as they have done on this thread!!
Business investment has also ground to a standstill in 2015, falling in by 7.5pc in the first quarter. Greek exports also shrunk by 0.6pc, according to figures from the country's official statistics body, Elsat.
http://www.telegraph.co.uk/finance/economics/11637688/Greek-capital-flight-hits-record-as-ultimatum-talk-grows.html
Greece is a basket case at the moment, it's like a family member that needs constant minding until it gets itself sorted.
Way to go, ignore 90% of the positivity in that post of mine. The fact that we're on track to maintain excellent GDP figures this year, next year, and the following year tells a story in itself.
Depends who yopu listen to. Head of the IMF, Christine Lagarde has said that Greece could leave the eurozone but added that the single currency would "probably" survive. She went on to say that it was very unlikely that a comprehensive solution would be reached in the next few days.. At the same time, the ECB warned that the risk of a Greek debt default had increased sharply in recent days.