http://www.bbc.co.uk/news/business-12272717
Thought it would be close to 0 or just above, but down 0.5% isn't good news.
UK economy suffers 0.5% contraction
- Thread starter Duke
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http://www.bbc.co.uk/news/business-12272717
Thought it would be close to 0 or just above, but down 0.5% isn't good news.
VAT Increase is realy going to be helping too?
.... and inflation, fuel prices, job losses.......
it needs two negative quarters in a row doesn't it?Does this mean we are back in recession? Not that it feels we ever came out
Soldato
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Does this mean we are back in recession? Not that it feels we ever came out
No. Recession follows if two consecutive quarters contract, I think. Hopefully this is a blip. If the next quarter contracts then we're in trouble.
Does this mean we are back in recession? Not that it feels we ever came out
Depends how many months it was actually negative. Like above said, all that snow probably didn't help to much.
Does this mean we are back in recession? Not that it feels we ever came out
Recession is usually taken to mean at least 2 consecutive quarters of negative growth
I dont see how an economy can be expected to grow if jobs are cut, pay does not rise to cover extra cost.
Fuel prices rise causing knock on effect for everything which is connected to something that uses fuel eg transportaion of food / goods.
Vat increase making things more expensive to buy.
I work for a massive international company but im not on a great wage im basicaly on something like £16 with bonus and stocks after tax I think.
They had a pay review which took them almost a year to do and only came back to us to say we think we are paying you enough, will be no pay rise, we may offer everyone an extra bonus on performance over a perioud of time.
Its a joke how everything is going up and we dont get a pay increase to cover the costs, in some cases people have to take pay cuts of face redundancy.
Fuel prices rise causing knock on effect for everything which is connected to something that uses fuel eg transportaion of food / goods.
Vat increase making things more expensive to buy.
I work for a massive international company but im not on a great wage im basicaly on something like £16 with bonus and stocks after tax I think.
They had a pay review which took them almost a year to do and only came back to us to say we think we are paying you enough, will be no pay rise, we may offer everyone an extra bonus on performance over a perioud of time.
Its a joke how everything is going up and we dont get a pay increase to cover the costs, in some cases people have to take pay cuts of face redundancy.
![[J.D.C]](/styles/overclockers/avatars/3.png){kind=avatar}
Bare in mind that this is the run up to Christmas, surely this should have had an impact? And the fact it's dipped 0.5% during this period is really not good news. Snow the driving factor...it's insulting to think we'd accept that as the sole reason.
Soldato
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That's a good point. Spending during the Christmas period is generally high. Of.course the weather would have some impact due to closed businesses. The BBC are saying that if the weather is taken out of the equation then there would have been no growth or no contraction.
Soldato
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[J.D.C];18308806 said:
Yeah. I lost count of how many times he said "the weather."
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The real story will come in April when the figures are released for this quarter, if its a drop again then were back where we started.. In a recession!
Surely they've got to be worried now? I'm no expert, but I can't imagine that a VAT increase following a contraction is going to help matters.