UK Economy Bounces Back

I don't know what data you're looking at, but it doesn't appear to be the same as mine.

My data comes from the ONS.

The ONS said the fall was driven by the biggest decline in construction output for three years, while the manufacturing sector failed to return to growth.

You should know where my data came from because I posted the link above.

I asked you to provide a link to ONS quarterly data before and so far you have declined to do so.

My data is clearly very different from yours, perhaps because of subsequent revisions but I cannot tell unless you show me the link to your data.

If your data is superior to mine, I will accept what you say. More to the point, I will see why this wrangling has persisted so long and end it.

And the unemployment figures, Cunco?

(P.S I only said 'dip' to keep you happy. I was looking at the year on year figures you linked to. )

In any case, GDP isn't the only economic success indicator. As I posted above, the current increase is mainly due to the increase in spending on Covid-related items anyway. I doubt if most people really understand what GDP is.

Since 2010, the mean income has gone down in real terms when inflation is taken into account and inequality has widened. This could have been controlled with taxation, but the Conservative government chose not to. Most people have been shielded from the worst effects by low interest rates, but even that is about to change. Not surprisingly, the poorest and most vulnerable will be the ones who will suffer most because they have the least they can use to make savings.

I have had enough. I have produced annual and quarterly figures to demonstrate my point. These have been challenged but no figures have been produced to disprove my figures.

Nobody is arguing that the economy was strong after the Credit Crunch. It was weak after a massive hit which Brown and Darling in the UK and, impressively, Chairman of the Fed in the US and others managed with a steady hand. I have no interest in bulling up the government after the 2010 election but my data (so far the only data) does not show there was a recession.

Now, instead of providing the data, you shift the ground. Of course, GDP is not the only indicator of success or failure but it is an important one and, more to the point, it was the one were were addressing.

Looking back over this 'wrangle', Cunco I see it started with someone else asserting that Labour had left the economy in a mess post 2008. My response was that the economy had started growing again be fore the 2010 election and it was the tories who took us into 'depression' (wrong word, I admit, but 'recession' fits). I don't see how you can look at the annual growth figures you linked to and tell me with a straight face that that was an economy that was growing... My main thesis is that the tories, by implementing austerity measures, caused growth to actually falter and it took several years to recover.

It all boils down really to an argument about which party can best manage the economy. The tory record is not particularly good.

We could talk about the idiocy of 'austerity' if you like?

No Cunco I haven't shifted ground at all.

I thought the stats had already been produced which showed that the economy dipped into recession in 2012. If they weren't, I'll look for them and post them.

By "changing subject" I was getting back to the OP. Firstly, I pointed out that the current growth is Covid-related. Secondly, I was pointing out that a growing GDP is not a sign that the economy is "bouncing back", which is what you claimed in your OP.

Human ill health is surely good news for doctors and drug providers just as crime is good news for policemen, QCs and judges! Not sure that parties are good news for partygoers though.

The pound is changing at €1.21 now. I'm wondering how long to hold out for it to go even higher (before it maybe crashes?). I'm guessing the euro is suffering from low growth in its user nations? Time to order some more euros for foreign trips I think.