Quarterly GDP Growth

[JamesWales]

Obviously no one likes good news, but in the absence of Mick's departure, the UK's GDP growth from Apr-June 2021 vs Jan-Mar 2021 is the second best in Europe.

Loads of Covid caveats, and it could be wiped out by slower growth when the summer's data comes out but this is tentatively good news, as all countries were in the midst of the second wave at this point and our economies were opening up at various rates.

Maybe the UK made some of the right decisions?

Ireland 6.3%
UK 5.5%
Portugal 4.5%
Netherlands3.8%
Austria 3.6%
Greece 3.4%
Denmark 2.8%
Hungary 2.7%
Italy 2.7%
EU 2.1%
Switzerland 1.8%
Belgium 1.7%
Germany 1.6%
France 1.1%
Spain 1.1%
Sweden 0.9%
Mick McCarthy -46.4%

Annually, we are top in Europe, growing 23.6% in Apr- June 2021 compared to Apr-June 2020, although it should be noted that our economy declined more than most in the 2nd quarter of 2020.

Full data:

Quarterly figures

https://tradingeconomics.com/country-list/gdp-growth-rate?continent=europe

Annual figures

https://tradingeconomics.com/country-list/gdp-annual-growth-rate?continent=europe

[Rjk]

Re: Quarterly GDP Growth

there's likely to be staggered effects as different countries were doing different things at different times. makes more sense to look at the overall economic impact for the whole period, rather than individual snapshots

[JamesWales]

Re: Quarterly GDP Growth

there's likely to be staggered effects as different countries were doing different things at different times. makes more sense to look at the overall economic impact for the whole period, rather than individual snapshots

You are right, which I acknowledged. But we can (and do) compare based on quarterly data, and as mentioned, it's significant as the UK did make a decision to open up slightly sooner than otherwise, and this perhaps is the result, economically at least.

The big stuff will be the summer data and also how long it takes countries to surpass the pre-pandemic size of their economies. Ours is still 3% smaller than it was before this nonsense started

[SLUDGE FACTORY]

Re: Quarterly GDP Growth

Obviously no one likes good news, but in the absence of Mick's departure, the UK's GDP growth from Apr-June 2021 vs Jan-Mar 2021 is the second best in Europe.

Loads of Covid caveats, and it could be wiped out by slower growth when the summer's data comes out but this is tentatively good news, as all countries were in the midst of the second wave at this point and our economies were opening up at various rates.

Maybe the UK made some of the right decisions?

Ireland 6.3%
UK 5.5%
Portugal 4.5%
Netherlands3.8%
Austria 3.6%
Greece 3.4%
Denmark 2.8%
Hungary 2.7%
Italy 2.7%
EU 2.1%
Switzerland 1.8%
Belgium 1.7%
Germany 1.6%
France 1.1%
Spain 1.1%
Sweden 0.9%
Mick McCarthy -46.4%

Annually, we are top in Europe, growing 23.6% in Apr- June 2021 compared to Apr-June 2020, although it should be noted that our economy declined more than most in the 2nd quarter of 2020.

Full data:

Quarterly figures

https://tradingeconomics.com/country-list/gdp-growth-rate?continent=europe

Annual figures
https://tradingeconomics.com/country...ntinent=europe

If this is economic good news then why are people from today losing 80 quid a month on universal credit ?

[az city]

Re: Quarterly GDP Growth

Obviously no one likes good news, but in the absence of Mick's departure, the UK's GDP growth from Apr-June 2021 vs Jan-Mar 2021 is the second best in Europe.

Loads of Covid caveats, and it could be wiped out by slower growth when the summer's data comes out but this is tentatively good news, as all countries were in the midst of the second wave at this point and our economies were opening up at various rates.

Maybe the UK made some of the right decisions?

Ireland 6.3%
UK 5.5%
Portugal 4.5%
Netherlands3.8%
Austria 3.6%
Greece 3.4%
Denmark 2.8%
Hungary 2.7%
Italy 2.7%
EU 2.1%
Switzerland 1.8%
Belgium 1.7%
Germany 1.6%
France 1.1%
Spain 1.1%
Sweden 0.9%
Mick McCarthy -46.4%

Annually, we are top in Europe, growing 23.6% in Apr- June 2021 compared to Apr-June 2020, although it should be noted that our economy declined more than most in the 2nd quarter of 2020.

Full data:

Quarterly figures

https://tradingeconomics.com/country-list/gdp-growth-rate?continent=europe

Annual figures
https://tradingeconomics.com/country...ntinent=europe

To quote the ONS:

"The level of GDP in the UK is now 3.3% below where it was prior to the coronavirus pandemic at the end of 2019, revised from 4.4%."

The series is going to be all over the place (with various stimuli and precipitous falls in activity over the last two years) before a true picture of the economy emerges when the underlying level of activity takes hold.

[Eric Cartman]

Re: Quarterly GDP Growth

The speed of the vaccination procurement and delivery has in part allowed our government to make back the ground it lost at the beginning of the crisis with god awful decision making. We are broadly speaking in line with other major economies now, good news I suppose. That being said, the other way to look at 'freedom day' is that we opened up in the midst of a Nth wave and just let significant numbers of people die to make sure of this 'good news', during this time the average age of a Covid patient in hospital reduced by 10 years. So as always the government needs to take the rough with the smooth and in this case that meant some level of economic recovery vs higher death figures.

[JamesWales]

Re: Quarterly GDP Growth

The speed of the vaccination procurement and delivery has in part allowed our government to make back the ground it lost at the beginning of the crisis with god awful decision making. We are broadly speaking in line with other major economies now, good news I suppose. That being said, the other way to look at 'freedom day' is that we opened up in the midst of a Nth wave and just let significant numbers of people die to make sure of this 'good news', during this time the average age of a Covid patient in hospital reduced by 10 years. So as always the government needs to take the rough with the smooth and in this case that meant some level of economic recovery vs higher death figures.

Absolutely. It's been a case of balancing competing factors from the start; Covid, wider health issues, mental wellbeing, the economy, education etc etc etc. Not easy

[JamesWales]

Re: Quarterly GDP Growth

To quote the ONS:

"The level of GDP in the UK is now 3.3% below where it was prior to the coronavirus pandemic at the end of 2019, revised from 4.4%."

The series is going to be all over the place (with various stimuli and precipitous falls in activity over the last two years) before a true picture of the economy emerges when the underlying level of activity takes hold.

Yeah, absolutely. At some point we will be able to compare the economy (and society) from 2019 to 2022 or something like that. Until then, it's all we have, and whilst half time scores are far less valuable than full time ones, it's still worth noting them.

I do think this is a bit more useful than the data from 2020 though (Covid hit some countries in Q1, some in Q2 for example, so its all totally skewed) as it is comparing Europe, broadly speaking from a period in which we were pretty much all in a second wave with a period in which we were pretty much all coming out of it, opening up, mass vaccinations and the rest.

Ultimately most things will even themselves out, but the theory being that the earlier a country opened up, the sooner business can stand on it's own two feet, the more jobs saved, the less the govt has to borrow etc etc. Same with vaccinations. Most countries will end up vaccinating nearly everyone, but the earlier it was done will ultimately have an impact on number of lives saved.

[Hilts]

Re: Quarterly GDP Growth

If the footballs as bad as I expect Saturday ill read this thread to remind me I could be doing worse things on a Saturday.

[chrisp_1927]

Re: Quarterly GDP Growth

there's likely to be staggered effects as different countries were doing different things at different times. makes more sense to look at the overall economic impact for the whole period, rather than individual snapshots

Bollocks !! reasoned and sensible opinion like this gets right in the way of a good old fashioned political slanging match.

[Feedback]

Re: Quarterly GDP Growth

Obviously no one likes good news, but in the absence of Mick's departure, the UK's GDP growth from Apr-June 2021 vs Jan-Mar 2021 is the second best in Europe.

Loads of Covid caveats, and it could be wiped out by slower growth when the summer's data comes out but this is tentatively good news, as all countries were in the midst of the second wave at this point and our economies were opening up at various rates.

Maybe the UK made some of the right decisions?

Ireland 6.3%
UK 5.5%
Portugal 4.5%
Netherlands3.8%
Austria 3.6%
Greece 3.4%
Denmark 2.8%
Hungary 2.7%
Italy 2.7%
EU 2.1%
Switzerland 1.8%
Belgium 1.7%
Germany 1.6%
France 1.1%
Spain 1.1%
Sweden 0.9%
Mick McCarthy -46.4%

Annually, we are top in Europe, growing 23.6% in Apr- June 2021 compared to Apr-June 2020, although it should be noted that our economy declined more than most in the 2nd quarter of 2020.

Full data:

Quarterly figures

https://tradingeconomics.com/country-list/gdp-growth-rate?continent=europe

Annual figures
https://tradingeconomics.com/country...ntinent=europe

lets wait and see what the impact of suspending furlough does to the economy before cracking open that bottle of Dom

[JamesWales]

Re: Quarterly GDP Growth

If the footballs as bad as I expect Saturday ill read this thread to remind me I could be doing worse things on a Saturday.

Chat to you on here at 3.05 on saturday then..

[Hilts]

Re: Quarterly GDP Growth

Chat to you on here at 3.05 on saturday then..

😂😂😂