UK to be one of worst performing economies this year, predicts IMF

[bignok]

5 minutes ago, placeholder said:

Well, there should be social policies to deal with that. Should not be an  issue that depends on the state of the economy.

Well it should be sorted. Economy going up or down 1% doesnt help some homeless person.

[placeholder]

1 minute ago, bignok said:

Well it should be sorted. Economy going up or down 1% doesnt help some homeless person.

Agreed.

[RayC]

1 hour ago, JonnyF said:

These predictions are hilarious. I still have a good chuckle about the pre Brexit warnings of 10% gdp loss, the end of London as a financial centre etc.

 

Good stuff. Anyone got any others? ????

Yes luckily Brexit has cost us 'only' 4% of GDP and that the City hasn't totally closed down: There's simply been the continuous loss of financial business to Amsterdam, Frankfurt and Paris.

 

Ah, those sunny uplands' of Brexit.

[Scott]

Off-topic posts and deflections have been removed along with replies.   Continue trolling and suspensions will be issued.  

 

 

 

[candide]

Obviously, there is also a convergence of independent forecasts towards similar numbers.

Official Statistics

Forecasts for the UK economy: March 2023

A comparison of independent forecasts for the UK economy in March 2023.

https://www.gov.uk/government/statistics/forecasts-for-the-uk-economy-march-2023

 

[thaibeachlovers]

9 hours ago, RayC said:

Yet Brexiters will never tell us when the Brexit' benefits are expected to kick in and how long the payback period will be. It's all 'Manana'.

That's life. None of us "know" what will happen in the future.

 

All that is certain is that enough people in the UK did not like the EU and voted to leave it.

 

If the economy is doing badly, now, it wasn't exactly gangbusters for the ordinary bloke before Brexit.

Not everyone makes a living by shuffling money around.

Edited April 13, 2023 by thaibeachlovers

[stevenl]

10 hours ago, bignok said:

The economy isnt bad unless you think it's bad. You choose to be negative or positive. As I said lots of people get rich in recessions. A recession is only 2 quarters of negative gdp growth which is nothing really.

For the average person this is nonsense. A bad economy will affect them and they won't get rich of a recession.

[thaibeachlovers]

12 minutes ago, stevenl said:

For the average person this is nonsense. A bad economy will affect them and they won't get rich of a recession.

Do I need to point out that the average person will likely not get "rich".

I worked during a few recessions and life carried on as normal.

[stevenl]

8 minutes ago, thaibeachlovers said:

Do I need to point out that the average person will likely not get "rich".

I worked during a few recessions and life carried on as normal.

Tell that to the person I replied to.

[bannork]

And now pharmacies in the UK are in trouble.

 

[Chomper Higgot]

4 hours ago, thaibeachlovers said:

Do I need to point out that the average person will likely not get "rich".

I worked during a few recessions and life carried on as normal.

You worked in the private or public sector?

[transam]

16 hours ago, Phulublub said:

We've taken back control doncha know?

 

Loooook....Our Passports are now Blue again (loud cheers). 

 

That they are made in Poland (in the EU) by a French-Duth (both in the EU) firm when the previous Burgundy passports were made by DeLaRue (UK firm) just highlights the utter lunacy of Brexit.

 

PH

Nothing to do with the UK being controlled by the EU...........Duuuuuuh..

UK passports are the UK gov. manufacturing control, not the EU.........

[transam]

16 hours ago, RayC said:

We've trodden this path many times before, Trans.

 

If you believe having the ability to change the 3% of EU law, which the UK voted against, has been worth the past 6.5 years (and counting) of chaos and economic decline then fair enough. Far too big a price for me.

The UK populace vote, I don't care about short time problems, my mum and dad had those problems AFTER 1945, it sorted itself out...????

[JayClay]

1 hour ago, transam said:

The UK populace vote, I don't care about short time problems, my mum and dad had those problems AFTER 1945, it sorted itself out...????

I wonder if there was any institution that we joined after 1945 that helped sort out those problems?

 

If there was then I sure hope we're still part of a similar institution to get us through the current "short term" problems.

[JonnyF]

15 hours ago, RayC said:

Yes luckily Brexit has cost us 'only' 4% of GDP and that the City hasn't totally closed down: There's simply been the continuous loss of financial business to Amsterdam, Frankfurt and Paris.

 

Ah, those sunny uplands' of Brexit.

Yes that 4% of gdp was nothing to do with Covid and the war in Ukraine lol.

 

It was 100% Brexit.

 

Laughable.

 

Besides, Brexit was never about % points of gdp. Only bitter remainers focus on gdp above everything else. They'd probably vote for the UK to be a province of China for 10% increase in gdp. 

 

Some of us look beyond dollar signs, especially when they are associated with the corrupt federalist EU project. You cannot put a price on sovereignty and morality.

[RayC]

1 hour ago, JonnyF said:

Yes that 4% of gdp was nothing to do with Covid and the war in Ukraine lol.

 

It was 100% Brexit.

You're right: This loss of 4% of GDP has absolutely nothing to do with Covid or the war in Ukraine. It is the OBR's (a UK government department) estimate of the cost of Brexit ONLY.

 

This report has been referenced numerous times with links provided. However, it doesn't fit the Brexiter narrative, so you continue to refuse to accept it.

 

1 hour ago, JonnyF said:

 

Laughable.

What would be laughable, if it wasn't sad, is the inability of Brexiters to take accountability and responsibility for the mess that they have created.

 

1 hour ago, JonnyF said:

 

Besides, Brexit was never about % points of gdp. Only bitter remainers focus on gdp above everything else.

Ah, the Johnson '<deleted> Business' school of thought. A sure way to make the country poorer.

 

1 hour ago, JonnyF said:

They'd probably vote for the UK to be a province of China for 10% increase in gdp. 

 Your justification for Brexit is becoming increasingly desperate.

 

1 hour ago, JonnyF said:

 

Some of us look beyond dollar signs, especially when they are associated with the corrupt federalist EU project.

See comments below. 

 

1 hour ago, JonnyF said:

You cannot put a price on sovereignty

And how exactly is this "taking back control" benefitting the British public?

 

1 hour ago, JonnyF said:

and morality.

Absolutely. One only needs to look at the moral fortitude shown by PMs, ministers and government MPs over the last few years to realise how lucky we are in comparison with the EU. 

(To avoid doubt, I'll spell it out: I am being sarcastic).

[RayC]

3 hours ago, transam said:

The UK populace vote, I don't care about short time problems, my mum and dad had those problems AFTER 1945, it sorted itself out...????

If you recognise that you have made a mistake, then surely it is better to correct it sooner rather than later?

 

If you don't consider that an action has been a mistake then you should be able to point to its' benefits. Something that Brexiters continually fail to provide.

[candide]

21 hours ago, RayC said:

Yet Brexiters will never tell us when the Brexit' benefits are expected to kick in and how long the payback period will be. It's all 'Manana'.

Well, at least when Latin people promise you something for 'Manana' or 'ahorita', there is still a slight chance it will happen within a few months' time! ????

[nigelforbes]

On 4/13/2023 at 5:53 AM, nigelforbes said:

Yes you're right, most of the pickup in Sterling value results from USD weakening.

 

https://www.xe.com/currencycharts/?from=GBP&to=USD&view=1M

https://www.marketwatch.com/investing/index/dxy

 

 

 

 

Oops, I have to backtrack on what I said, GBP has strengthened

 

The pound (GBPUSD=X) has rallied significantly over the last several days, climbing to a 10-month high against the US dollar. “Cable (GBP/USD) is up over 3.6% year-to-date and is up over 12% in 6 months since the fiscal fiasco around the mini-budget last September which heavily punished the British currency.

 

https://finance.yahoo.com/news/pound-stays-strong-against-dollar-as-rally-continues-090837965.html

[placeholder]

15 hours ago, thaibeachlovers said:

Do I need to point out that the average person will likely not get "rich".

I worked during a few recessions and life carried on as normal.

So you were not one of the many unfortunates who lost their jobs. Even during the Great Depression, more people kept their jobs than lost them. So what's your point?

[thaibeachlovers]

13 hours ago, RayC said:

If you don't consider that an action has been a mistake then you should be able to point to its' benefits. Something that Brexiters continually fail to provide.

Not being subject to Brussels is worth it.

[bignok]

On 4/14/2023 at 10:06 AM, stevenl said:

For the average person this is nonsense. A bad economy will affect them and they won't get rich of a recession.

Not really. Unless they lose their job or run a business it has no real impact. A downturn affects some but many people have recession proof jobs so no impact.

 

 

[bignok]

16 hours ago, placeholder said:

So you were not one of the many unfortunates who lost their jobs. Even during the Great Depression, more people kept their jobs than lost them. So what's your point?

That lasted 6 years. A 6 month downturn means little.

[placeholder]

1 minute ago, bignok said:

That lasted 6 years. A 6 month downturn means little.

But his argument was that because he hadn't lost his job, therefore no problem.

[bignok]

Just now, placeholder said:

But his argument was that because he hadn't lost his job, therefore no problem.

For 90% of people who don't lose their jobs or run a small business it won't affect them. Recessions mainly impact on mom and pop micro businesses not average workers.

 

 

[newbee2022]

On 4/13/2023 at 3:27 PM, Mac Mickmanus said:

I did mean actual growth rate compared to previous  IMF forecasts

 

 

Note: Data from International Monetary Fund is projected estimate based upon previous data and known trends. Final values may differ.

 CSV JSON

Country	% growth (World Bank)	WB data year	% growth 2022 (IMF estimate)
Libya	31.4%	2021	3.5%
Maldives	31%	2021	6.1%
Guyana	19.9%	2021	47.2%
Macau	18%	2021	15.5%
Panama	15.3%	2021	7.5%
Moldova	13.9%	2021	0.3%
Bahamas	13.7%	2021	6%
Ireland	13.5%	2021	5.2%
Peru	13.3%	2021	3%
Honduras	12.5%	2021	3.8%
Montenegro	12.4%	2021	3.8%
Dominican Republic	12.3%	2021	5.5%
Chile	11.7%	2021	1.5%
Botswana	11.4%	2021	4.3%
Turkey	11%	2021	2.7%
Rwanda	10.9%	2021	6.4%
El Salvador	10.8%	2021	3%
Colombia	10.6%	2021	5.8%
Croatia	10.4%	2021	2.7%
Georgia	10.4%	2021	3.2%
Argentina	10.3%	2021	4%
Nicaragua	10.3%	2021	3.8%
Belize	9.8%	2021	5.7%
Malta	9.4%	2021	4.8%
Tajikistan	9.2%	2021	2.5%
India	8.9%	2021	8.2%
Andorra	8.9%	2021	4.5%
Eritrea	8.7%	2011	4.7%
Albania	8.5%	2021	2%
Greece	8.3%	2021	3.5%
Estonia	8.3%	2021	0.2%
Israel	8.2%	2021	5%
China	8.1%	2021	4.4%
Slovenia	8.1%	2021	3.7%
Singapore	7.6%	2021	4%
Costa Rica	7.6%	2021	3.3%
Kenya	7.5%	2021	5.7%
Guatemala	7.5%	2021	4%
United Kingdom	7.4%	2021	3.7%
Morocco	7.4%	2021	1.1%
Uzbekistan	7.4%	2021	3.4%
Serbia	7.4%	2021	3.5%
Eswatini	7.4%	2021	2.1%
Hungary	7.1%	2021	3.7%
Palestine	7.1%	2021	4%
Bosnia And Herzegovina	7.1%	2021	2.4%
France	7%	2021	2.9%
Ivory Coast	7%	2021	6%
Bangladesh	6.9%	2021	6.4%
Burkina Faso	6.9%	2021	4.7%
Luxembourg	6.9%	2021	1.8%
Italy	6.6%	2021	2.3%
Benin	6.6%	2021	5.9%
Saint Lucia	6.6%	2021	9.7%
Dominica	6.5%	2021	6.8%
Hong Kong	6.4%	2021	0.5%
Turkmenistan	6.3%	2019	1.6%
Belgium	6.2%	2021	2.1%
Senegal	6.1%	2021	5%
Bolivia	6.1%	2021	3.8%
Pakistan	6%	2021	4%
Romania	5.9%	2021	2.2%
Zimbabwe	5.8%	2021	3.5%
United States	5.7%	2021	3.7%
Philippines	5.7%	2021	6.5%
Dr Congo	5.7%	2021	6.4%
Poland	5.7%	2021	3.7%
Armenia	5.7%	2021	1.5%
Ethiopia	5.6%	2021	3.8%
Azerbaijan	5.6%	2021	2.8%
Gambia	5.6%	2021	5.6%
Cyprus	5.5%	2021	2.1%
Ghana	5.4%	2021	5.2%
Togo	5.3%	2021	5.6%
Grenada	5.3%	2021	3.6%
Antigua And Barbuda	5.3%	2021	6.5%
Spain	5.1%	2021	4.8%
Netherlands	5%	2021	3%
Lithuania	5%	2021	1.8%
South Africa	4.9%	2021	1.9%
Portugal	4.9%	2021	4%
Russia	4.8%	2021	-8.5%
Mexico	4.8%	2021	2%
Sweden	4.8%	2021	2.9%
Denmark	4.7%	2021	2.3%
Brazil	4.6%	2021	0.8%
Canada	4.6%	2021	3.9%
New Zealand	4.6%	2021	2.7%
Jamaica	4.6%	2021	2.5%
Austria	4.5%	2021	2.6%
Latvia	4.5%	2021	1%
Madagascar	4.4%	2021	5.1%
Uruguay	4.4%	2021	3.9%
Timor Leste	4.4%	2021	2%
Tanzania	4.3%	2021	4.8%
Djibouti	4.3%	2021	3%
Nepal	4.2%	2021	4.1%
Ecuador	4.2%	2021	2.9%
Paraguay	4.2%	2021	0.3%
Bulgaria	4.2%	2021	3.2%
South Korea	4%	2021	2.5%
Kazakhstan	4%	2021	2.3%
Liberia	4%	2021	4.5%
North Macedonia	4%	2021	3.2%
Mauritius	4%	2021	6.1%
Norway	3.9%	2021	4%
American Samoa	3.9%	2020	0%
Algeria	3.8%	2021	2.4%
Guinea Bissau	3.8%	2021	3.8%
Indonesia	3.7%	2021	5.4%
Sri Lanka	3.7%	2021	2.6%
Switzerland	3.7%	2021	2.2%
Iceland	3.7%	2021	3.3%
Nigeria	3.6%	2021	3.4%
Zambia	3.6%	2021	3.1%
Kyrgyzstan	3.6%	2021	0.9%
Cameroon	3.5%	2021	4.3%
Finland	3.5%	2021	1.6%
Uganda	3.4%	2021	4.9%
Ukraine	3.4%	2021	-35%
Egypt	3.3%	2021	5.9%
Somalia	3.3%	2021	3%
Tunisia	3.3%	2021	2.2%
Czech Republic	3.3%	2021	2.3%
Saudi Arabia	3.2%	2021	7.6%
Malaysia	3.1%	2021	5.6%
Mali	3.1%	2021	2%
Guinea	3.1%	2021	4.8%
Sierra Leone	3.1%	2021	3.4%
Cambodia	3%	2021	5.1%
Slovakia	3%	2021	2.6%
Tuvalu	3%	2021	3%
Germany	2.9%	2021	2.1%
Iraq	2.8%	2021	9.5%
Malawi	2.8%	2021	2.7%
Vietnam	2.6%	2021	6%
Belarus	2.5%	2021	-6.4%
Laos	2.5%	2021	3.2%
Namibia	2.4%	2021	2.8%
Mauritania	2.3%	2021	5%
Comoros	2.3%	2021	3.5%
Mozambique	2.2%	2021	3.8%
Jordan	2.2%	2021	2.4%
Bahrain	2.2%	2021	3.3%
New Caledonia	2.1%	2000	0%
Turks And Caicos Islands	2.1%	2021	0%
Bermuda	1.9%	2021	0%
Iran	1.8%	2020	3%
Burundi	1.8%	2021	3.2%
Sao Tome And Principe	1.8%	2021	1.6%
Seychelles	1.8%	2021	4.6%
Japan	1.6%	2021	2.4%
Thailand	1.6%	2021	3.3%
Australia	1.5%	2021	4.2%
Syria	1.5%	2018	0%
Papua New Guinea	1.5%	2021	4.8%
Qatar	1.5%	2021	3.4%
Gabon	1.5%	2021	2.7%
Nauru	1.5%	2021	0.9%
Niger	1.4%	2021	6.9%
Mongolia	1.4%	2021	2%
Barbados	1.4%	2021	11.2%
Lesotho	1%	2021	3.1%
Central African Republic	0.9%	2021	3.5%
Angola	0.7%	2021	3%
Tonga	0.7%	2020	-1.6%
Saint Vincent And The Grenadines	0.7%	2021	5%
Vanuatu	0.5%	2021	2.2%
Greenland	0.4%	2020	0%
Isle Of Man	0.3%	2019	0%
Sudan	0.1%	2021	0.3%
Solomon Islands	-0.2%	2021	-4%
Kiribati	-0.5%	2020	1.1%
Equatorial Guinea	-0.9%	2021	6.1%
Trinidad And Tobago	-1%	2021	5.5%
Saint Kitts And Nevis	-1%	2021	10%
Chad	-1.2%	2021	3.3%
Liechtenstein	-1.2%	2009	0%
Brunei	-1.6%	2021	5.8%
Haiti	-1.8%	2021	0.3%
Yemen	-2.1%	2021	1%
United States Virgin Islands	-2.1%	2020	0%
Afghanistan	-2.4%	2020	0%
Marshall Islands	-2.5%	2021	2%
Oman	-3.2%	2020	5.6%
Micronesia	-3.2%	2021	-0.5%
Republic Of The Congo	-3.5%	2021	2.4%
Suriname	-3.5%	2021	1.8%
Venezuela	-3.9%	2014	1.5%
Puerto Rico	-3.9%	2020	4.8%
Fiji	-4.1%	2021	6.8%
Cayman Islands	-5.7%	2020	0%
United Arab Emirates	-6.1%	2020	4.2%
Sint Maarten	-6.6%	2018	0%
San Marino	-6.6%	2020	0%
French Polynesia	-7.6%	2020	0%
Samoa	-8.1%	2021	0%
Kuwait	-8.9%	2020	8.2%
Palau	-9.7%	2020	8.1%
Bhutan	-10.1%	2020	4.4%
Lebanon	-10.5%	2021	0%
South Sudan	-10.8%	2015	6.5%
Cuba	-10.9%	2020	0%
Northern Mariana Islands	-11.1%	2019	0%
Monaco	-11.8%	2020	0%
Guam	-11.9%	2020	0%
Myanmar	-18%	2021	1.6%
Curacao	-18.4%	2020	0%
Aru       https://worldpopulationreview.com/country-rankings/gdp-growth-by-country	-22.3%	2020	2.7%

And you think it's worth to compare forecasts to reality. 

I prefer reality vs reality.

[placeholder]

32 minutes ago, bignok said:

For 90% of people who don't lose their jobs or run a small business it won't affect them. Recessions mainly impact on mom and pop micro businesses not average workers.

 

 

You got some hard evidence you can link to to support that?

Edited April 15, 2023 by placeholder

[RayC]

9 hours ago, thaibeachlovers said:

Not being subject to Brussels is worth it.

As I have mentioned countless times previously, contrary to what Brexiters would have us believe, it was never a case of the evil, monolithic Brussels machine forcing the plucky UK to implement draconian rules against its' will: The UK was forced to enact 3% of laws up to 2016 which it voted against.

 

Perhaps you can explain what tangible benefits the UK has reaped since it left the EU?

[placeholder]

10 minutes ago, RayC said:

As I have mentioned countless times previously, contrary to what Brexiters would have us believe, it was never a case of the evil, monolithic Brussels machine forcing the plucky UK to implement draconian rules against its' will: The UK was forced to enact 3% of laws up to 2016 which it voted against.

 

Perhaps you can explain what tangible benefits the UK has reaped since it left the EU?

You materialists are all alike.

Who can put a price on the beauty of a flower?

The smile of a child?

Or the BS of a Brexiter?

Edited April 15, 2023 by placeholder

[JayClay]

10 hours ago, thaibeachlovers said:

Not being subject to Brussels is worth it.

How do you feel about the UK's accession to the CTPPT then?