Oh Mr Starmer … could things be any worse only 4 months in?

More bad news. Economists have sounded the alarm over a UK recession after data showed Britain’s economy was reeling from the effects of Rachel Reeves’s tax-raising Budget.

Britain is now “close to stagnation” after closely watched PMI figures showed activity among the UK’s private sector companies shrank for the first time in more than a year in November.

Sterling dropped to its lowest against the dollar since May and banking stocks plunged on Friday. Economists said they were “more worried” that Britain’s performance might not be as good as previous forecasts.

Chris Williamson, chief business economist at S&P Global Market Intelligence said: “Companies are giving a clear ‘thumbs down’ to the policies announced in the Budget, especially the planned increase in employers’ National Insurance contributions.”

Grantanow, you are so correct.

One of the benefits of following a thread like this is that you are kept aware of the nonsense being spewed out by the right wing press, without having to pay anything into their coffers.

Indeed.

Maremia

One of the benefits of following a thread like this is that you are kept aware of the nonsense being spewed out by the right wing press, without having to pay anything into their coffers.

That was equally true during the last government, but now you can add to
that the constant excuses spewed out by those on the defensive of anything Labour does.

It isn’t defensiveness abiut anything Labour does. Sheeesh

Iam64

It isn’t defensiveness abiut anything Labour does. Sheeesh

Sorry, not everything, but it quite often is, usually prefaced by a reference to the previous government, even when Labour have done what KS criticised Sunak for proposing.

Smileless2012

Isn't there still some dispute about the existence and size of the black hole Mollygo?

Depends who you are.
It did exist according to Sunak
Then it didn’t exist when Labour got in
so we had millions to pour into pay increases (I’m not anti those pay increases per se)
Then we had a black hole even bigger presumably because of the pay increases.

If there was a change of government tomorrow, I’m certain there would be claims of no black hole to be inherited by the incoming government.

FGT, you’ve got several quotes in your post, so I presume you’re citing a source. Could you tell me your source, so I can read it in its entirety?

From past experience on GN, when I request sources (because I like to know & understand things) posters usually come back at me with ‘Google is your friend’ or more derogatory comments.

FYI, I have Googled FGT’s claim and can’t find anything about it today.

I’m not saying it’s wrong - I’d just like to read more detail. So FGT, could you tell me your source please?

LizzieDrip, good luck with getting sources. Whenever I asked for them from previous posters I was rudely rebuffed or received derogatory comments because people didn’t like the answer.
The other thing I notice on GN is that if you do provide resources, they are often rubbished or dismissed as being unacceptable because of where they come from.
Here’s one to help you though. It was easy to find.
www.spglobal.com/marketintelligence/en/mi/research-analysis/flash-uk-pmi-falls-into-contraction-territory-as-outlook-gloom-deepens-Nov24.html

It's sometimes easier or harder to find a source, but that doesn't mean that the source is the only or the best opinion on the topic, just one opinion amongst others.

SPGlobal spending huge amounts of money in US politics:

www.opensecrets.org/orgs/s-p-global/summary?id=D000035733

(Lobbying and political funding). I'd rather get my economics elsewhere.

Thanks Mollygo.

Like you, I’ve received some quite insulting comments when I’ve asked for sources. I don’t know why but some people seem to take offence at being asked🤷‍♀️

I like to read around an issue as much as I can - from a range of perspectives / sources, in order to inform myself. What I don’t do is take something as ‘gospel’ from a snapshot or a headline.

So, thanks for the link - I’ll read it now!

Interesting report Mollgo - some useful graphs showing where we are now compared to the last few years.

Apologies … should be Mollygo🙈

Thanks Wyllow. Interesting background info into the source!

I quoted from an article in the Telegraph.

Perhaps Nige will come along in his Barbour and save us all.

Personally I prefer Jeremy Squirrell.

Mollygo

Was the school just closed because of the playground escaped?
We had problems getting cars up the local roads which affected buses, parents and staff, but the only playground rule was, sadly, don’t make slides on the playground.

Oh, that used to be such fun!

(I sound like Miranda's mother.)

Maremia

One of the benefits of following a thread like this is that you are kept aware of the nonsense being spewed out by the right wing press, without having to pay anything into their coffers.

Yes! You're right.
It's amazing how many links, excerpts and references to the Daily Mail etc are posted on GN by indignant posters who claim to be left-wing.

It never ceases to amaze me.

Thanks FGT.

Weirdly, when I’ve Googled it, nothing current is coming up for the Telegraph about the UK nearing recession.

Oh well, one of those things I suppose🤷‍♀️

I’m sure it will reported by other mainstream media outlets.

I'd ever heard of Jeremy Squirrell so looked him up.
He sounds interesting.

x.com/Jes_Squirrell/status/1859299097569575341

FGT found it now!

most economists said they do not think the UK is heading for recession

From the same article you quoted FGT so perhaps not such ‘bad news’ then