Looks like the UK economy is in good shape. With these figures we will grow much faster than our biggest competitors in the G7.
http://www.telegraph.co.uk/business/...figures-to-sh/
http://www.telegraph.co.uk/business/...figures-to-sh/
GDP surges ahead and beats all expectations in quarter after brexit
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But... but... the Treasury said we'd have negative growth this quarter if we voted Leave. 
0.5% is in line with post-crisis average. So the economy isn't doing too badly at all. "Despite Brexit".
0.5% is in line with post-crisis average. So the economy isn't doing too badly at all. "Despite Brexit".
UK GDP did not surge ahead in Q3. It dropped from 0.7% to 0.5%
Having said that, it is a good figure and beat most expectations of 0.3/0.4%
Having said that, it is a good figure and beat most expectations of 0.3/0.4%
These estimates are most likely very wrong and inaccurate. I don't believe them. They will be corrected downwards.
Originally Posted by aurichie:
“These estimates are most likely very wrong and inaccurate. I don't believe them. They will be corrected downwards.”
“These estimates are most likely very wrong and inaccurate. I don't believe them. They will be corrected downwards.”
9.40am and we already have Post of the Day.
If Aurichie says they will be corrected downwards, they'll probably be corrected upwards.
Originally Posted by aurichie:
“These estimates are most likely very wrong and inaccurate. I don't believe them. They will be corrected downwards.”
“These estimates are most likely very wrong and inaccurate. I don't believe them. They will be corrected downwards.”
And what GDP figures would have been "believable"?
From the Guardian.
Service sector grows, everything else shrank
Britain’s service sector, which makes up three quarters of the economy, is the only part which grew in the last three months.
Service sector output grew by 0.8% in July-September.
Construction shrank by 1.4%
Agriculture shrank by 0.7%
Industrial production shrank by 0.4%
And manufacturing (part of production) shrank by 1%
Service sector grows, everything else shrank
Britain’s service sector, which makes up three quarters of the economy, is the only part which grew in the last three months.
Service sector output grew by 0.8% in July-September.
Construction shrank by 1.4%
Agriculture shrank by 0.7%
Industrial production shrank by 0.4%
And manufacturing (part of production) shrank by 1%
Lol - the 0.5% figure is put out and Sterling shoots up, 15 minutes later it's realised that all growth was down to services (with all other sectors decreasing and two of the three faster than at any time since the recession) and Sterling falls again.
It will be interesting to see the rest of the EU's figures for this.
Are they out Friday? Anyone think France, Germany or Italy will be Fri wing quicker than us?
Are they out Friday? Anyone think France, Germany or Italy will be Fri wing quicker than us?
Originally Posted by MargMck:
“9.40am and we already have Post of the Day.
If Aurichie says they will be corrected downwards, they'll probably be corrected upwards.”
“9.40am and we already have Post of the Day.
If Aurichie says they will be corrected downwards, they'll probably be corrected upwards.”
Was just going to say the same.
Aurichie you don't happen to know what the lottery numbers definitely won't be on Saturday do you
Originally Posted by HR Guru:
“Lol - the 0.5% figure is put out and Sterling shoots up, 15 minutes later it's realised that all growth was down to services (with all other sectors decreasing and two of the three faster than at any time since the recession) and Sterling falls again.”
“Lol - the 0.5% figure is put out and Sterling shoots up, 15 minutes later it's realised that all growth was down to services (with all other sectors decreasing and two of the three faster than at any time since the recession) and Sterling falls again.”
Markets have worked out its folks bringing forward their spend due to impending inflation. I predicted 0.4% but more spending brought forward than thought. Bloomberg saying that credit cards have been hammered - great joy.
I bought a new car in September to beat price rises. The garage was swamped. The guy told me many fleets (business) had brought forward their exchanges to do the same. I know only half the population is prepared to accept what is coming but wealthy are far more represented in that group.
I do find it funny that any 'bad news' is nothing to do with Brexit, the fall in sterling is nothing to do with Brexit but because it was overvalued for example, but GDP "surges ahead" is everything to do with Brexit.
GDP increasing slightly over the last quarter, and the detailed figures amplify just how unbalanced our economy is, has nothing whatsoever to do with "Brexit" and it is wrong to suggest it is.
GDP increasing slightly over the last quarter, and the detailed figures amplify just how unbalanced our economy is, has nothing whatsoever to do with "Brexit" and it is wrong to suggest it is.
Originally Posted by Glawster2002:
“GDP increasing slightly over the last quarter has nothing whatsoever to do with "Brexit" and it is wrong to suggest it is.”
“GDP increasing slightly over the last quarter has nothing whatsoever to do with "Brexit" and it is wrong to suggest it is.”
I do hope you'd be saying the same if the growth figure had been flat or negative.
Originally Posted by Glawster2002:
“I do find it funny that any 'bad news' is nothing to do with Brexit, the fall in sterling is nothing to do with Brexit but because it was overvalued for example, but GDP "surges ahead" is everything to do with Brexit.
GDP increasing slightly over the last quarter, and the detailed figures amplify just how unbalanced our economy is, has nothing whatsoever to do with "Brexit" and it is wrong to suggest it is.”
“I do find it funny that any 'bad news' is nothing to do with Brexit, the fall in sterling is nothing to do with Brexit but because it was overvalued for example, but GDP "surges ahead" is everything to do with Brexit.
GDP increasing slightly over the last quarter, and the detailed figures amplify just how unbalanced our economy is, has nothing whatsoever to do with "Brexit" and it is wrong to suggest it is.”
Nobody is saying it's because of Brexit. They are just countering that things aren't working out as bad as some predicted.
Everything that's bad news is because of Brexit according to many on here. Everything from the price of a cup of coffee to job lay offs. Page after page, thread after thread. Any good news is met with more negativity. I've never met anyone in real life with the negativity that flows from every pore of some remainers on here.
Originally Posted by jmclaugh:
“I do hope you'd be saying the same if the growth figure had been flat or negative.”
“I do hope you'd be saying the same if the growth figure had been flat or negative.”
Yes I would.
I might have voted to remain, but for remainers to make similar claims in the event GDP had fallen would be equally nonsensical because, apart from a referendum, nothing has changed.
It is going to be a good 2.5 years, at least, before anyone can claim any GDP figures are truly a result of Brexit.
Originally Posted by Aurora13:
“Markets have worked out its folks bringing forward their spend due to impending inflation. I predicted 0.4% but more spending brought forward than thought. Bloomberg saying that credit cards have been hammered - great joy.
I bought a new car in September to beat price rises. The garage was swamped. The guy told me many fleets (business) had brought forward their exchanges to do the same. I know only half the population is prepared to accept what is coming but wealthy are far more represented in that group.”
“Markets have worked out its folks bringing forward their spend due to impending inflation. I predicted 0.4% but more spending brought forward than thought. Bloomberg saying that credit cards have been hammered - great joy.
I bought a new car in September to beat price rises. The garage was swamped. The guy told me many fleets (business) had brought forward their exchanges to do the same. I know only half the population is prepared to accept what is coming but wealthy are far more represented in that group.”
Why would they do that when the economy is about to suffer a Brexit collapse?
Originally Posted by aurichie:
“These estimates are most likely very wrong and inaccurate. I don't believe them. They will be corrected downwards.”
“These estimates are most likely very wrong and inaccurate. I don't believe them. They will be corrected downwards.”
Originally Posted by MargMck:
“9.40am and we already have Post of the Day.
If Aurichie says they will be corrected downwards, they'll probably be corrected upwards.”
“9.40am and we already have Post of the Day.
If Aurichie says they will be corrected downwards, they'll probably be corrected upwards.”
Can you give a figure for the downward level or will you claim victory if it's downgraded by 0.0000000000001%?
Originally Posted by Resonance:
“Nobody is saying it's because of Brexit. They are just countering that things aren't working out as bad as some predicted.”
“Nobody is saying it's because of Brexit. They are just countering that things aren't working out as bad as some predicted.”
Might I refer you to the tread title...
Quote:
“GDP surges ahead and beats all expectations in quarter after brexit”
“GDP surges ahead and beats all expectations in quarter after brexit”
That seems pretty explicit to me...
Originally Posted by Resonance:
“Everything that's bad news is because of Brexit according to many on here. Everything from the price of a cup of coffee to job lay offs. Page after page, thread after thread. Any good news is met with more negativity. I've never met anyone in real life with the negativity that flows from every pore of some remainers on here.”
“Everything that's bad news is because of Brexit according to many on here. Everything from the price of a cup of coffee to job lay offs. Page after page, thread after thread. Any good news is met with more negativity. I've never met anyone in real life with the negativity that flows from every pore of some remainers on here.”
I have also never met anyone in real life who voted leave who has the overwhelming positivity of some Brexiters on here. Many won't even consider there may be some negatives in leaving the EU, which is far from what may happen. Brexit may work out well for this country, but that is very far from certain and I have heard little from politicians, either UK or EU, to alter that.
Originally Posted by allaorta:
“Why would they do that when the economy is about to suffer a Brexit collapse?”
“Why would they do that when the economy is about to suffer a Brexit collapse?”
Err... to save money. Why pay 10% more for your vehicle next year?
Originally Posted by Glawster2002:
“Might I refer you to the tread title...
That seems pretty explicit to me...”
“Might I refer you to the tread title...
That seems pretty explicit to me...”
Not really. It's a statement of fact and is being used to counter claims that we're all doomed because of Brexit.
Originally Posted by Glawster2002:
“I have also never met anyone in real life who voted leave who has the overwhelming positivity of some Brexiters on here. Many won't even consider there may be some negatives in leaving the EU, which is far from what may happen. Brexit may work out well for this country, but that is very far from certain and I have heard little from politicians, either UK or EU, to alter that.”
“I have also never met anyone in real life who voted leave who has the overwhelming positivity of some Brexiters on here. Many won't even consider there may be some negatives in leaving the EU, which is far from what may happen. Brexit may work out well for this country, but that is very far from certain and I have heard little from politicians, either UK or EU, to alter that.”
I can't say I've met anyone on here who thinks Brexit is all going to be 'milk and honey'. Some people have made posts to try and illustrate things might not be as bad as some predict (like this one).
We're in a situation now where everything bad is being blamed on Brexit. Is it any wonder that some try to balance things out a bit by posting some good news stories?
Originally Posted by Dotheboyshall:
“The Pound has reached a one week high!!!”
“The Pound has reached a one week high!!!”
Lol it had for a whole 15 minutes before the data was dissected and everybody realised that the 0.5 % growth was entirely made up by services.
It's now back to where it was this morning and last night... and most of this week. Saying that - it's actually lower to the Euro than it was at the beginning of the week.
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