UK economy grows for first time in three months
https://www.bbc.co.uk/news/articles/c8r5jkv5g5po
Posted by chuffingnora
UK economy grows for first time in three months
https://www.bbc.co.uk/news/articles/c8r5jkv5g5po
Posted by chuffingnora
32 Comments
I, for one, can’t wait to feel the benefits of this, lol.
0.1% It’s definitely not an error and we definitely won’t be told in a few months that the numbers were restated and there was actually a contraction..
0.1%. Break out the champagne life has never been so good!
This 0.1% growth as ‘breaking news’ feels all too convenient given the recent political backdrop over the last week.
We did it everybody, everyone pat yourself on the back
Be that as it may.
It’s only a measure of money.
This is while gas and electricity prices are high.
Petrol and diesel prices are high.
Food prices higher than ever.
People are dying in corridors in our hospitals.
But the economy has grown. Let’s all shout from the roof tops shall we.
The interest rate for our governments borrowing costs is nearly 1% higher than GDP and inflation. If this carries on, our government can do ine of two things. Tax us more which will be against their manifesto pledges. Or they can do an emergency budget and cut spending. Austerity again. NHS will suffer, public transport, roads. It will affect anyone who isn’t on the Sunday times rich list.
If only the government could see a graph showing our happiness.
And inflation came in lower than expected. Something tells me it’s not all doom and gloom.
When you increase the population by 1% a year you’d need at least 1% growth just to maintain the same standard of living.
Now let’s see GDP per capita.
I hope the people mocking this are the same ones who were apoplectic when we were down by 0.1% in recent months, claiming it was all Labour’s fault.
To remove any doubt, I suggest you take a look at [our performance over the past few years](https://www.statista.com/statistics/970941/quarterly-gdp-growth-uk/)
0.1% is not growth. In the private sector, nobody would be celebrating that, if anything shit would start flying. We need to define a stagnant/ neutral figure (imho 0-2%).
There’s not enough push to really drive change to achieve high figures. Equally it should be viewed as GDP per person to avoid immigration skewing the figures.
0.1%… these results are often amended a couple of months down the line.
I thought we were predicted to have reasonable growth moving forward? The IMF has us at 1.5% GDP annual growth, I’m confused.
All we need is a few more quarters like that and we will be back to 2019 living standards. Whooo!!!
Why are we being led by this moronic single indicator ?
The party of “easily available energy” is over. There’s no “magic” energy coming to replace oil, the blood of our economy, that we cannot physically keep on extracting faster and faster.
Will you blame ecologists, socialists ? Or the real culprits that lied and pretented for decades that “they were not sure their products were killing us and let the future generations handle it” ?
ITT:
“b-bu-but it’s happening under labour so it must be bad”
I keep hearing about how we need to kick start the economy but where’s the sodding policy to get there.
I read the govts AI action plan the other day what a pointless document that was just full of buzzwords, wouldn’t surprise me if it was written by chat gpt tbh.
How is this BREAKING NEWS?!
Well. Now thinking about how depressing our country is. This IS breaking news.. sad.
>Real GDP per head is estimated to have fallen by 0.1% in Quarter 3 2024, and is flat, compared with the same quarter a year ago. It is important to note that estimates of GDP per head up to 2022 are based on our Population estimates for England and Wales: mid-2023, whereas data from 2023 to 2024 are based on our interim population projections.
Lots of unhappy Russian bots and Reform shills in this thread
Waiting for the inevitable moment in a months time where it turns out they were wrong about this figure.
Have we permanently lost this sub to Tory bots or shills
_economy dips by 0.1%_ “same old shit, labour are as bad as the Tories. They’re gonna get stomped by reform next GE”
_economy grows by 0.1%_ “probably an error, and even if it isn’t, so what? It’s 0.1%, do you expect us to break out the champagne”
Without fail the top comments on any political post are attacking Labour. Whether or not you like them or voted for them, hardly conducive to a good discussion – the entire point of Reddit posts that have comments enabled – when they’re just dominated by bots or shills spouting the same old shit
Mods you need to look into this. I’d imagine you won’t, for obvious reasons
It’s almost like the Labour governments tax plans are anti business and stifle innovation and economic productivity
Falling rates of inflation and economic growth are bad for Labour – My think piece in today’s Telegraph.
Wait until it’s reassessed to be zero in 2 months time.
*rubs eyes in disbelief*
“Did we…? Are these…?…The uplands?! The sunlit uplands of Brexit!!! We made it! *We finally made it!*”
Sweet, I’m sure this will make a huge difference in regular peoples lives!
Huh, it doesn’t?
Retailers are gonna raise prices anyway, you say?
Business as usual then.
“expansion of 0.1%” — that is barely, just barely a bit of growth. More of a joke.
0.1%? That’s a rounding error and pretty bad considering how much worse off most people are nowadays. Councils going bankrupt, services being cut, NHS on its knees, immigration hoovering our taxes up, energy prices through the roof, massive increases in homelessness and mental health issues and they crow about 0.1% being a positive.
It’s all just an artificial sound bite, a meaningless figure with no bearing on the average person who is being clobbered from all angles.
Next month
> the economy shrinks by 0.1
The month after
> the economy grows by 0.3
The month after that
>the economy shrinks by 0.2
Ad infinitum
It’s disappointing given October and November would have seen millions of public sector workers receive a back dated pay rise, a big lump sum of cash just before Christmas. Should have expected a bigger short term boost from that?
It’s because of me. I decided to shop at Waitrose, recently.
No need to give me praise. Just doing my part for the country 🫡
0.1% overall
Some sectors tanking and struggling
Some just about keeping their heads above water
But apparently investment in AI is booming so we’ll be fine thanks
Jammy Dodger packs are down to 50p at my tesco. The world is healing