UK is "officially" in recession

mike5678 · 23 Jan 2009 at 12:51

Recession? Send it back!

Marky · 23 Jan 2009 at 12:54

Glad they made it official... I was never 100% sure if we were in a huge economic breakdown... /sarcasm

Emlyn_Dewar · 23 Jan 2009 at 13:00

Recession? Jesus! Hit me like a ton of bricks that has, just didn't see it coming.

What now?

N9ne · 23 Jan 2009 at 13:03

The interesting result from this article is that while the market consensus was -1.2% GDP growth for Q4 2008, the actual figure was in fact -1.5%. That's 25% worse than consensus! Certainly caused a further sell-off of sterling and cemented a bearish bias for the next few weeks.

I can see there being 4-6 successive quarters of negative GDP growth now.

4p · 23 Jan 2009 at 13:03

Sall good.

AJUK · 23 Jan 2009 at 13:04

It's all official now then, following this statement from the 'Department of Stating the Bleedin' Obvious' :rolleyes:

Le_Petit_Lapin · 23 Jan 2009 at 13:25

*shrug*

/care

Steve2000 · 23 Jan 2009 at 13:31

Emlyn_Dewar said:
Recession? Jesus! Hit me like a ton of bricks that has, just didn't see it coming.

What now?

I'm sure the government will sort something out. No need to fear.

Rich_L · 23 Jan 2009 at 13:33

I'm off to the pub to celebrate!

The Dread Pirate · 23 Jan 2009 at 13:34

Isn't it supposed to be 3 consecutive quarters of negative growth?

Emlyn_Dewar · 23 Jan 2009 at 13:36

Well that's alright then, glad we've got Gordon Brown and crew to fix this mess. Maybe we can set up some paypal donations to the major banks in the mean time?

I'm glad we've got the news constantly drumming the financial crisis into our ears as well. Makes it so much easier on everyone...

N9ne · 23 Jan 2009 at 13:49

Capn' $qu!ff said:
Isn't it supposed to be 3 consecutive quarters of negative growth?

No, 2.

DragonWoLf · 23 Jan 2009 at 13:55

Does this mean we're boned?

cheets64 · 23 Jan 2009 at 13:57

Least it will bring a lot of people back to reality and that having money and saving it up to buy goods is the way to go.

Admiral Huddy · 23 Jan 2009 at 13:58

Lord_Kokain said:
Anyone saw when that recession came? And why let it in ffs? Stupid new labour immigration policy...

or consumer greed?

Sime · 23 Jan 2009 at 13:59

DragonWoLf said:
Does this mean we're boned?

Depends...Im alright. Currently on my work experiance, I have a job in a small company creating very successful simulators and making good money for a student. There only growing and getting stronger also...If for whatever reason it does go down the pooper, I just pack up and finish my last year of uni...Good stuff.

Thats all I have to worry about

Will_3rd · 23 Jan 2009 at 14:07

Sweet, the best kind of recession.

mattheman · 23 Jan 2009 at 14:30

DominicStar said:
We haven't really had a proper immigration policy under either Labour or the last Conservative government. The extent of British immigration policy is to react every time some neanderthal tabloid like the Daily Mail or Express runs an article with more impact than the daily xenophobic tripe it prints.

What the heck it has to do with a recession though you'll have to explain?

yes, immigration can be seen a one of the many factors in the chain of events thats lead to this recession, and no it not racist before you start going on about it.

aardvark · 23 Jan 2009 at 14:30

like this wasn't obvious at least a year ago!

mattheman · 23 Jan 2009 at 14:31

Capn' $qu!ff said:
Isn't it supposed to be 3 consecutive quarters of negative growth?

2 is 4 or 5 is a depression.