UK economic growth falls to 0.2%

[ecuworrier]

http://www.bbc.co.uk/news/business-14288348

hmmm they was chattering a bout this earlier.... what with interest rates and inflation controlled through the Bank of England.. this is now a significant departure from Maggie and co and followers in terms of what the gov can directly play with...  pondering is the gov performing well under the circumstances at its best under the circumstances or just plain old pig's ear.....    borrowing is at a low manufacture for export also at a low ....  and we're all sitting ducks.... oh and consumer borrowing is in the trillions... what are folk's thoughts?

GOD BLESS!

Peace and Love,

[AndyHB]

ecu, during your listening in to the chatter, did you happen to hear the spokesman for one of the business organisations highlight the fact that this set of figures comes from a period that included a number of one-off events such as the Royal Wedding, the late Easter and, of course, the aftermath of the Japanese tsunami.  He suggested that had these circumstances not applied, the growth rate would have been nearer 0.6%.  I think we need to be careful of judging economic conditions on the strength of a single quarter's figures.

Yes, growth is slow - but that is the same across the globe - but economies that were weak prior to the banking crisis (as Britain's was) are necessarily taking longer to recover.

[Boudi]

there seems to be a lot said about the royal wedding as a factor. surely there was more spent as a result of it, with many people bbq-ing etc, getting booze and food in, not to mention t-towels they don't need

[AndyHB]

there seems to be a lot said about the royal wedding as a factor. surely there was more spent as a result of it, with many people bbq-ing etc, getting booze and food in, not to mention t-towels they don't need

I think the issue was that, with that added Bank Holiday (and the fact that several people managed to extend their 'holiday' by taking that and the following weekend for only 3 days days out) meant that production was down.