Britain’s growth revised downwards suggesting recovery losing momentum

[rooster59]

Britain’s growth revised downwards suggesting recovery losing momentum



The British economy grew at a slower rate than previously estimated during at least half of 2015, according to official data.

Weaker growth in the large services sector, the UK’s engine, may give analysts cause for concern.

The Bank of England has more food for thought as it ponders when to raise interest rates.

Figures from the Office for National Statistics show the economy expanded by 0.4 percent in the third quarter compared with a previous estimate of 0.5 percent.

The second quarter has also been revised downwards, to 0.5 percent from 0.7.

Annual growth rates for both second and third quarters have also been lowered.

The latest figures for the third quarter showed a rise in consumer spending, helped by zero inflation and higher wages. Britain’s conservative government says growth is stronger than in most other developed countries, but the figures highlight the risks still facing the economy.

Some analysts have suggested that the figures show that Britain’s recovery is losing momentum.

-- (c) Copyright Euronews 2015-12-27

[14 the other side]

At least the economy, quarter on quarter is growing, not as fast as projected, but growing nevertheless.

Might delay any proposed interest rate hikes though which is good for our economy, but maybe not so good if you are living in Thailand and hoping for a better exchange rate.

[trogers]

Like most other nations that saw spectacular growth before, this time round, zero inflation and higher wages means more debt clearing than consumption.

The baby boomers are clearing debts and retiring, while their kids have all grown up.

[Krataiboy]

Wages going up? They sure need to.

Since the recession the poor are 57 per cent poorer and the rich have grown 64 per cent richer.

Hands up all those who think this is an accident.

[Suradit69]

The latest figures for the third quarter showed a rise in consumer spending, helped by zero inflation and higher wages.

Presumably the "zero inflation" refers to price inflation since "higher wages" suggests wage inflation with no mention of productivity ... almost always a precursor to price inflation down the road.

Interesting how governments claim zero price inflation by cherry picking what items are included or excluded from the calculation while actual consumers find that their dollar, pound, Euro or baht buys less each year.

[sanukjim]

Damn I guess that it is not time to talk of leaving the EU is it ?

[thaibeachlovers]

At least the economy, quarter on quarter is growing, not as fast as projected, but growing nevertheless.

Might delay any proposed interest rate hikes though which is good for our economy, but maybe not so good if you are living in Thailand and hoping for a better exchange rate.

The zero interest game is the biggest con ever. It means that banks make vast profits while the people that put their money in the banks get nothing. The people that thought that one up are nothing less than crooks.

However, it doesn't make any difference as the economic system is rigged for the benefit of the rich anyway.

[FourAces]

Most countries are in the same boat, so get your self a nice big cup of Harden the <deleted> up and move on.

[elgordo38]

At least the economy, quarter on quarter is growing, not as fast as projected, but growing nevertheless.

Might delay any proposed interest rate hikes though which is good for our economy, but maybe not so good if you are living in Thailand and hoping for a better exchange rate.

Everything is done for the so called "economy" You know the "economy" where people up to their necks in debt look for more cheap easy money. Yes we stupid retirees that saved our money all our lives believing all that government drivel we were spoon fed about "saving" for our retirement. Well folks we are here now in the "promised" land. Your money in the bank makes almost zero interest and banks could soon charge you to park it there and the "casino" rigged stock market seems like your only option left. "Real" inflation is eating your money up not the rubbery numbers the governments spout. We get little or no cost of living increases. Now your retired in a foreign country and the government wants to penalize you for this as well. In my case my country's currency has dropped 25% thanks to previous government mismanagement of the "economy" and this one trick pony called the almighty greenback. The Federal Reserve thanks to willing politicians set up this mad mess some 100 or more years ago in a middle of the night coup. The almighty dollar being made the King of Kurrencies is the spoils of the 2nd World War. To the victor go the spoils. Yes we retirees are the dinosaurs of the world. We have a little money left but the government is staying awake nights trying to steal even that from us. As the movie states "Its a Mad Mad World" Edited December 27, 2015 by elgordo38

[elgordo38]

At least the economy, quarter on quarter is growing, not as fast as projected, but growing nevertheless.

Might delay any proposed interest rate hikes though which is good for our economy, but maybe not so good if you are living in Thailand and hoping for a better exchange rate.

If I could age at the speed the economies of the world are growing there is a good chance I might live forever.

[Ulic]

I laugh, anyone that knows Carney knows he talks up the coming interest rate rise which keeps

the currency strong and helps dampen the housing bubble (helps not stops) by scaring people

about affordability of payments. That was his shtick in Canada and nothing has changed in the UK.

Canada's current Bank of Canada chairman is same, same, but from the other side. He talks

down the Canadian dollar with talk of further cuts and negative interest rates. He is a big believer

in devaluing the Canadian dollar and did in fact make one interest rate cut. But he to will do

nothing but talk as Canada's housing bubble is extremely high in Canada's big population centers.

Any lowering of interests would only exacerbate the situation. As far as I am concerned these

national bankers get paid an awful lot of money to travel to conferences and meetings, and

pontificate great thoughts and then do NOTHING.

[elgordo38]

Like most other nations that saw spectacular growth before, this time round, zero inflation and higher wages means more debt clearing than consumption.

The baby boomers are clearing debts and retiring, while their kids have all grown up.

Yes and therein lies the problem. Priorities have changed. The boomers were consumers their kids selective consumers. They now with stagnant wages are looking at the BBoom in house prices and come to the conclusion rightfully so that they cannot afford one plus their parents have a big empty house with an empty basement. They want to enjoy their money as they can see first hand how their parents who saved all their lives are getting nothing in the way of interest. Savings? A suckers game. Governments are playing devils advocate in this on one hand say "Save for your retirement" and on the other hand state "Please spend us out of our stupidity" They have limited funds so they want to enjoy technology, eating in good restaurants and travel forget about "Roots"

[elgordo38]

Wages going up? They sure need to.

Since the recession the poor are 57 per cent poorer and the rich have grown 64 per cent richer.

Hands up all those who think this is an accident.

If wages go up the rich cry "foul" we will take our money elsewhere yes like Viet Nam where growth is a world envious 6.6% The reason being the "rich business people" are jumping into the country with both feet as VN is one of the last few bastions of cheap labor and strong communist control (of labor) and poor environmental laws a big business paradise plus Viet Nam is learning fast from their Chinese cousins. Democracy on a leash. The world is like a game of domino's as one country collapses hope springs eternal in another. Guess BB will have to leave the planet to get the next great place to seduce/victimize oops change that to set up shop. Edited December 27, 2015 by elgordo38

[SgtRock]

Britain’s growth revised downwards suggesting recovery losing momentum

Britain never had a recovery from the 2008 crash.

The only thing it has had is smoke and mirrors from desperate politicians.

[Dtaw]

And the Brits think the Chinese locusts will rescue them

[bangon04]

I think the word "Recovery" is a word meaning "slower decline" relative to some other countries, especially the Eurozone.

[thaibeachlovers]

The west will never again have growth like in the 50s and 60s. Having exported most of the unskilled jobs to China or other low wage countries, and the remaining industrial jobs being rapidly taken over by robots, there are simply too many people trying to get too few jobs and that isn't going to change. The latest job killer I have seen is the automated petrol station- no human being to be seen. Automated car parking buildings, soon every possible job that can be automated will be and that'll be even more people competing to stack boxes in the supermarket. As for the kids that thought they didn't have to get a school qualification- they are going to be the new subclass of never employed and unemployable.

Times are going to get very hard in the not so far away future- enjoy it now while you can.

[Ghostnigel]

I don't know why everyone has their eyes on Britain? As far as i can see, every country is not moving ahead like they thought they would....i suppose its because the UK is now the world leader, and everyone takes their mark from them....Cameron just has to sneeze, and it puts us back a notch or two....lol

[ableguy]

At least the economy, quarter on quarter is growing, not as fast as projected, but growing nevertheless.

Might delay any proposed interest rate hikes though which is good for our economy, but maybe not so good if you are living in Thailand and hoping for a better exchange rate.

Everything is done for the so called "economy" You know the "economy" where people up to their necks in debt look for more cheap easy money. Yes we stupid retirees that saved our money all our lives believing all that government drivel we were spoon fed about "saving" for our retirement. Well folks we are here now in the "promised" land. Your money in the bank makes almost zero interest and banks could soon charge you to park it there and the "casino" rigged stock market seems like your only option left. "Real" inflation is eating your money up not the rubbery numbers the governments spout. We get little or no cost of living increases. Now your retired in a foreign country and the government wants to penalize you for this as well. In my case my country's currency has dropped 25% thanks to previous government mismanagement of the "economy" and this one trick pony called the almighty greenback. The Federal Reserve thanks to willing politicians set up this mad mess some 100 or more years ago in a middle of the night coup. The almighty dollar being made the King of Kurrencies is the spoils of the 2nd World War. To the victor go the spoils. Yes we retirees are the dinosaurs of the world. We have a little money left but the government is staying awake nights trying to steal even that from us. As the movie states "Its a Mad Mad World"

Go get undulated and get a life.

[arjunadawn]

Britain’s growth revised downwards suggesting recovery losing momentum

Britain never had a recovery from the 2008 crash.

The only thing it has had is smoke and mirrors from desperate politicians.

The "recovery" touted in such places as UK and the US were pure fantasy. There was not recovery, only further speculation. "Smoke and mirrors" is about it; nothing but more fiat economics unbound to any intrinsic value. As another said, the West will never recover out of this unless drastic steps are taken to repudiate the politics that underlies this economic madness.

[thaibeachlovers]

Britain’s growth revised downwards suggesting recovery losing momentum

Britain never had a recovery from the 2008 crash.

The only thing it has had is smoke and mirrors from desperate politicians.

The "recovery" touted in such places as UK and the US were pure fantasy. There was not recovery, only further speculation. "Smoke and mirrors" is about it; nothing but more fiat economics unbound to any intrinsic value. As another said, the West will never recover out of this unless drastic steps are taken to repudiate the politics that underlies this economic madness.

There will NEVER be a recovery in the west, such as was known before. Expect a new underclass of youths that will never be employed.

Why?

Because most of the unskilled jobs have been or are being outsourced to cheap labour countries ( listen to Trump on that- he is right ), companies in countries like Australia are trying to import cheap labour from China rather than employ locals, jobs that used to require many workers are now being done by one or two ( see what has happened to farming in the past 50 years ) and whatever low skilled jobs are left will soon be mechanised. The robot revolution is happening without any fanfare or publicity, but it is real- even film actors are in danger of becoming superseded by a computer program ( just look at Avatar ). So the same technology that drives everyone's stupidphone is what is going to make them unable to afford one in the future.

Glad I lived most of my life before the poo really hits the rotating device, glad I lived before I was replaced by a machine, glad I never had children to suffer.

[Rancid]

Yes, the British needn't feel special about their declining economy, it's a world wide trend based on high government debts, corrupt banking systems, money printing and ridiculously low interest rates.

Some countries are worse off than others but the general trend is the generational paradigm shift of wealth from the poor and middle class to the uber rich.

Asset classes are going up and wages going down, really does look like we are moving back to a feudalistic society where the ruling class own it all and are immune to the law. Will the widespread surveillance, welfare, the controlled media and Swat style police forces keep it all going this time around?

[thaibeachlovers]

Yes, the British needn't feel special about their declining economy, it's a world wide trend based on high government debts, corrupt banking systems, money printing and ridiculously low interest rates.

Some countries are worse off than others but the general trend is the generational paradigm shift of wealth from the poor and middle class to the uber rich.

Asset classes are going up and wages going down, really does look like we are moving back to a feudalistic society where the ruling class own it all and are immune to the law. Will the widespread surveillance, welfare, the controlled media and Swat style police forces keep it all going this time around?

It's been seen many times in sci fi films. Maybe this time it will be for real.

[DeaconJohn]

Yes, the British needn't feel special about their declining economy, it's a world wide trend based on high government debts, corrupt banking systems, money printing and ridiculously low interest rates.

Some countries are worse off than others but the general trend is the generational paradigm shift of wealth from the poor and middle class to the uber rich.

Asset classes are going up and wages going down, really does look like we are moving back to a feudalistic society where the ruling class own it all and are immune to the law. Will the widespread surveillance, welfare, the controlled media and Swat style police forces keep it all going this time around?

It's been seen many times in sci fi films. Maybe this time it will be for real.

George Orwell's 1984 is one of the definitive texts.

The state of perpetual war is a modern reality.

[thaibeachlovers]

Yes, the British needn't feel special about their declining economy, it's a world wide trend based on high government debts, corrupt banking systems, money printing and ridiculously low interest rates.

Some countries are worse off than others but the general trend is the generational paradigm shift of wealth from the poor and middle class to the uber rich.

Asset classes are going up and wages going down, really does look like we are moving back to a feudalistic society where the ruling class own it all and are immune to the law. Will the widespread surveillance, welfare, the controlled media and Swat style police forces keep it all going this time around?

It's been seen many times in sci fi films. Maybe this time it will be for real.

George Orwell's 1984 is one of the definitive texts.

The state of perpetual war is a modern reality.

He was just a bit out with the date.

People don't have to stand in front of the camera for the authorities to check on their whereabouts though, the sheeple addiction for stupidphones enables Big Brother to know where they are at all times. Their use of CCs tells Big Brother their habits, preferences and shopping choices, the tv tells Big Brother what they watch, and no doubt Big Brother is monitoring every word we write on TV, and every website we look at.