UK Economy Bounces Back

This thread won’t last long. There’s not enough bad news to feast on. The UK doing well? ?

GrannyGravy13

growstuff if we do not think of and/or take care of ourselves who do you suppose is going to do so?

How selfish!

Gwyneth

I second that Allsorts. I always wonder why those who can never see any positives to living in the UK want to stay here as it’s so awful.

I was born here and I'm a British citizen. How dare you suggest I be chased out! Where would I go anyway?

PS. I'd like to live in a country where people are told the truth, not believe in fairies and unicorns.

growstuff if we do not think of and/or take care of ourselves who do you suppose is going to do so?

Ooo dear!

Josieann

Urmstongran

Thanks Cunco for a reasoned post. Which won’t of course be welcomed by some on here. Doomsters and glum buckets who will jump in to denigrate the UK. The same punters who cried that Sterling was going to tank after the referendum result. WRONG‼️ The pound is exchanging at €1.19 today. Long may it continue.

That's a good rate of exchange, a lot better than the past few years. Good news as all our families are booked to get over to France this summer.

How about thinking about the bigger picture rather than yourself?

HolySox

Thanks Cunco for some positive news about the economy.
Don't understand Vegansrock comment about enrgy company dividends. Haven't a lot of UK energy suppliers gone bust with recent price hikes, and those remaining taking a massive hit. The only big profits for overseas suppliers ramping prices up taking advantage of supply shortages.

But there isn't any positive news about the economy! It's not even positive enough to be called "bread and circuses".

Just look at Shell and BP profits - up billions.

Thanks Cunco for some positive news about the economy.
Don't understand Vegansrock comment about enrgy company dividends. Haven't a lot of UK energy suppliers gone bust with recent price hikes, and those remaining taking a massive hit. The only big profits for overseas suppliers ramping prices up taking advantage of supply shortages.

Urmstongran

Thanks Cunco for a reasoned post. Which won’t of course be welcomed by some on here. Doomsters and glum buckets who will jump in to denigrate the UK. The same punters who cried that Sterling was going to tank after the referendum result. WRONG‼️ The pound is exchanging at €1.19 today. Long may it continue.

That's a good rate of exchange, a lot better than the past few years. Good news as all our families are booked to get over to France this summer.

I second that Allsorts. I always wonder why those who can never see any positives to living in the UK want to stay here as it’s so awful.

Thank you Cusco for an unbiased factual post. Like hens teeth on here. We all need bolstering up a bit it seems relentlessly bad news and tge good never mentioned. Other good news how well our fishermen on our coasts are doing, from high unemployment to a buoyant market.

So it was Cunco, sorry. It’s amazing how people draw different conclusions from the same piece of information. I’d say this is like the curate’s egg.

Casdon: Your more realistic assessment was the one with which I began this thread.

Growstuff: GDP growth is usually stated as real GDP growth after adjusting for inflation. It is, according to the BBC, one of the most important ways of measuring how well or badly the economy is doing. It reflects a multitude of activities which affect all of our lives, one way or another.

Of course, ill-health is not good news. The emergence of Omicron dampened activity in the final months of the year although increased health activities seems to have provided some offset, rather more than many anticipated.

GDP statistics are always estimates and subject to revision; but since there is no shortage of gloom when the figures are bad, it seems only reasonable that we allow a little sunshine when they are better than expected.

The ONS's own summary is interesting:

"The largest contributors to this quarterly increase were from human health and social work activities driven by increased GP visits at the start of the quarter and a large increase in coronavirus (COVID-19) testing and tracing activities and extension of the vaccination programme."

www.ons.gov.uk/economy/grossdomesticproductgdp

Could somebody please explain how human ill health is "good news"?

JenniferEccles

Whichever way the doom and gloom brigade like to twist it, this is good news.
Yes I do accept that the economy took a dive previously which we need to bear in mind, but we are on an upward trend, and that can’t be denied.

No, it's not good news for the majority of people.

A more realistic assessment from ONS director of economic statistics Darren Morgan:

“The growth in 2021 comes from a low base in 2020, when the economy fell sharply," Mr Morgan said. "And if you look at where the UK economy is now, compared to its pre-pandemic level, which I know a lot of people do for a broader picture of the economy, the UK is middle of the pack, compared with the G7."

Whichever way the doom and gloom brigade like to twist it, this is good news.
Yes I do accept that the economy took a dive previously which we need to bear in mind, but we are on an upward trend, and that can’t be denied.

But economic growth hardly benefits anybody and interest rate increases will adversely affect those with mortgages. Economic growth increases with rising prices. It's not a good thing for the majority of people, unless managed well.

From the Business section today in the Telegraph:

“Market traders are betting that interest rates will hit 2pc by the end of the year after the economy outstripped every other G7 nation to grow at its fastest pace since the Second World War.”

GrannyGravy13

growstuff

Urmstongran

Thanks Cunco for a reasoned post. Which won’t of course be welcomed by some on here. Doomsters and glum buckets who will jump in to denigrate the UK. The same punters who cried that Sterling was going to tank after the referendum result. WRONG‼️ The pound is exchanging at €1.19 today. Long may it continue.

Not if you're trying to export to the Eurozone from the UK.

Good for folks importing from the Eurozone though…

Agreed, but the country already has a balance of trade deficit. We need to export more.

Thank you cunco, great positive news.

growstuff

Urmstongran

Thanks Cunco for a reasoned post. Which won’t of course be welcomed by some on here. Doomsters and glum buckets who will jump in to denigrate the UK. The same punters who cried that Sterling was going to tank after the referendum result. WRONG‼️ The pound is exchanging at €1.19 today. Long may it continue.

Not if you're trying to export to the Eurozone from the UK.

Good for folks importing from the Eurozone though…

I welcome any positive news regarding the U.K. economy.

Urmstongran

Thanks Cunco for a reasoned post. Which won’t of course be welcomed by some on here. Doomsters and glum buckets who will jump in to denigrate the UK. The same punters who cried that Sterling was going to tank after the referendum result. WRONG‼️ The pound is exchanging at €1.19 today. Long may it continue.

Not if you're trying to export to the Eurozone from the UK.