Growth up to 0.4 per cent.

[the other bob wilson]

Starmer turning things around already.

[Rjk]

new manager bounce

[Wales-Bales]

I wish the pound was going up against the dollar, bring back Rishi!

[JamesWales]

GDP growth March. - June was 0.6%
Not bad and double the EU

Makes Sunaks decision to call an early election seem even more baffling

https://www.bbc.com/news/articles/cq82y55jg35o

[Dave Blue]

GDP growth March. - June was 0.6%
Not bad and double the EU

Makes Sunaks decision to call an early election seem even more baffling

https://www.bbc.com/news/articles/cq82y55jg35o

A flash in the pan and the Summer boat arrivals wouldn’t have fitted in with ‘I’ve stopped the boats’ message, let alone another Rwanda plane farce.

[JamesWales]

A flash in the pan and the Summer boat arrivals wouldn’t have fitted in with ‘I’ve stopped the boats’ message, let alone another Rwanda plane farce.

Not really a flash in the pan. Second quarter of pretty robust growth.

[az city]

Not really a flash in the pan. Second quarter of pretty robust growth.

"The British economy expanded 0.6% qoq in Q2 2024, following a 0.7% rise in Q1 and in line with forecasts, preliminary estimates showed. On the production side, services grew 0.8%, with the largest contribution coming from scientific research and development (11%, the most since 2020). On the other hand, production edged 0.1% lower, led by manufacture of transport equipment (-1.8%) and textiles, wearing apparel and leather products (-6.6%). Construction also fell 0.1%. In expenditure terms, gross fixed capital formation increased 0.4%, namely in transport and intellectual property products while business investment declined 0.1%. Government consumption soared 1.4%, led by higher activity in public administration and defence, and education, which offset a fall in health. Also, household spending edged up 0.2%, mostly consumption in transport, housing, and recreation and culture. On the other hand, net trade fell mainly due to a decline in goods exports." Office for National Statistics.

"Robust", you say. Bollocks, say I. You don't know anything about Economics so stop pretending you do.

BTW care to quote US growth rate over the same period? I bet you won't.

[JamesWales]

"The British economy expanded 0.6% qoq in Q2 2024, following a 0.7% rise in Q1 and in line with forecasts, preliminary estimates showed. On the production side, services grew 0.8%, with the largest contribution coming from scientific research and development (11%, the most since 2020). On the other hand, production edged 0.1% lower, led by manufacture of transport equipment (-1.8%) and textiles, wearing apparel and leather products (-6.6%). Construction also fell 0.1%. In expenditure terms, gross fixed capital formation increased 0.4%, namely in transport and intellectual property products while business investment declined 0.1%. Government consumption soared 1.4%, led by higher activity in public administration and defence, and education, which offset a fall in health. Also, household spending edged up 0.2%, mostly consumption in transport, housing, and recreation and culture. On the other hand, net trade fell mainly due to a decline in goods exports." Office for National Statistics.

"Robust", you say. Bollocks, say I. You don't know anything about Economics so stop pretending you do.

BTW care to quote US growth rate over the same period? I bet you won't.

Oh I missed this post from you, made in your usually pleasant manner...

Sure, the last two quarters for the G7 as follows. Not that I'm a huge fan of only measuring the G7 but it seems to stick.

In all cases it's Q2 and Q1 2024 data apart from Canada which is Q1 2024 and Q4 2023. (Presumably Q2 2024 not released yet)

USA 2.8% and 1.4%
Japan 0.8% and -0.6%
UK 0.6% and 0.7%
Canada 0.4% and 0%
France 0.3% and 0.3%
Italy 0.2% and 0.4%
Germany -0.1% and 0.2%

UK is thus quite clearly second in the G7 over the last six months. "Robust" strikes me as a reasonable term for it.

Sky labels it "Stellar"
https://news.sky.com/story/more-econ...onomy-13197215

Reuters go with "strong growth"
https://www.reuters.com/world/uk/uk-...24-2024-08-15/

Guardian labels it "strong"
https://www.theguardian.com/business...tural-problems

ONS Director of economic statistics goes with "grown strongly"
https://www.independent.co.uk/news/u...-b2596646.html

Financial Times goes with "robust"
https://www.ft.com/content/21bede0b-...9-bee926411e02

And yet you label "Robust" as "bollocks". What do they know, eh?!

That said, I'm not sure why some of those articles label us the strongest growth in the G7 as that quite clearly is the United States, with the UK second.

[az city]

Oh I missed this post from you, made in your usually pleasant manner...

Sure, the last two quarters for the G7 as follows. Not that I'm a huge fan of only measuring the G7 but it seems to stick.

In all cases it's Q2 and Q1 2024 data apart from Canada which is Q1 2024 and Q4 2023. (Presumably Q2 2024 not released yet)

USA 2.8% and 1.4%
Japan 0.8% and -0.6%
UK 0.6% and 0.7%
Canada 0.4% and 0%
France 0.3% and 0.3%
Italy 0.2% and 0.4%
Germany -0.1% and 0.2%

UK is thus quite clearly second in the G7 over the last six months. "Robust" strikes me as a reasonable term for it.

Sky labels it "Stellar"
https://news.sky.com/story/more-econ...onomy-13197215

Reuters go with "strong growth"
https://www.reuters.com/world/uk/uk-...24-2024-08-15/

Guardian labels it "strong"
https://www.theguardian.com/business...tural-problems

ONS Director of economic statistics goes with "grown strongly"
https://www.independent.co.uk/news/u...-b2596646.html

Financial Times goes with "robust"
https://www.ft.com/content/21bede0b-...9-bee926411e02

And yet you label "Robust" as "bollocks". What do they know, eh?!

That said, I'm not sure why some of those articles label us the strongest growth in the G7 as that quite clearly is the United States, with the UK second.

Growth based on labour productivity improvements, rising exports, and business investment with a stable/growing manufacturing sector would be robust. The UK has none of those. That's why your prior "opinion" is bollocks.

Simple growth accounting tells you that what has driven recent growth in the UK is the increasing labour supply. You know, the immigrants you don't like.

[JamesWales]

Growth based on labour productivity improvements, rising exports and a stable/growing manufacturing sector would be robust. The UK has none of those. That's why your prior "opinion" is bollocks.

Simple growth accounting tells you that what has driven recent growth in the UK is the increasing labour supply. You know, the immigrants you don't like.

The thread is about GDP growth AZ. You can start another one on productivity. And you aren't arguing with me you are arguing with facts and the overwhelming body of opinion that the last two quarters of growth are reasonable. To say robust is not bollocks.

[az city]

The thread is about GDP growth AZ. You can start another one on productivity. And you aren't arguing with me you are arguing with facts and the overwhelming body of opinion that the last two quarters of growth are reasonable. To say robust is not bollocks.

You're the one who described it as "robust" which, given its source, it plainly isn't. Or is it that you don't know what "robust" actually means?

[Gofer Blue]

Ah but was more than 0.4% expected by the markets? If it was, then expect panic in the streets. Likewise if growth was less than expected, expect panic in the streets!

The FTSE250 fell from 21600 to 20236 from 31st July to 5 August (1364 points) as a typical knee jerk reaction but has recovered to 21157 by today. Was it ever thus in the financial markets!

[HiVis]

Starmer turning things around already.

Given this relates to figures at the end of June, and the election was in July, what am I missing?

[HiVis]

"The British economy expanded 0.6% qoq in Q2 2024, following a 0.7% rise in Q1 and in line with forecasts, preliminary estimates showed. On the production side, services grew 0.8%, with the largest contribution coming from scientific research and development (11%, the most since 2020). On the other hand, production edged 0.1% lower, led by manufacture of transport equipment (-1.8%) and textiles, wearing apparel and leather products (-6.6%). Construction also fell 0.1%. In expenditure terms, gross fixed capital formation increased 0.4%, namely in transport and intellectual property products while business investment declined 0.1%. Government consumption soared 1.4%, led by higher activity in public administration and defence, and education, which offset a fall in health. Also, household spending edged up 0.2%, mostly consumption in transport, housing, and recreation and culture. On the other hand, net trade fell mainly due to a decline in goods exports." Office for National Statistics.

"Robust", you say. Bollocks, say I. You don't know anything about Economics so stop pretending you do.

BTW care to quote US growth rate over the same period? I bet you won't.

sludge has not been shopping for a while then?

[JamesWales]

Given this relates to figures at the end of June, and the election was in July, what am I missing?

I don't think Bob was being serious!

[the other bob wilson]

Given this relates to figures at the end of June, and the election was in July, what am I missing?

The fact I was joking?

[Wales-Bales]

I don't think Bob was being serious!

He's the best parody poster on here!