DOOM: The Economy

[WTFH]

Odd the IMF has it as 2.5% compared to our stagnant 3.6%.

Yep its bad the forecasthas our growth only .6% higher than Germany's -0.3%, Europe's powerhouse we are always compared to.

It seems Italy will outgrow Germany again by -0.1%!



We are forecast to be 0.2% behind the Eurozone having lost our paltry .1% lead on 27 European countries.

Imagine all these countries linked together with the same currency & rules behaving so differently.



The real figures however suggest we grew more than our competitors for a number of years. The eurozone only caught up year on year in Q2 2022.

Our performance is comparable to the USA & Japan and 1.5 times Germany in Q3 22.



lies, lies and Blasters statistics?

Your “real” figures only work if you ignore the train crash that meant we recovered in late 21 and into 22 compared with how much we fell in the pandemic

[BlasterBates]

Odd the IMF has it as 2.5% compared to our stagnant 3.6%.

Yep its bad the forecasthas our growth only .6% higher than Germany's -0.3%, Europe's powerhouse we are always compared to.

It seems Italy will outgrow Germany again by -0.1%!



We are forecast to be 0.2% behind the Eurozone having lost our paltry .1% lead on 27 European countries.

Imagine all these countries linked together with the same currency & rules behaving so differently.



The real figures however suggest we grew more than our competitors for a number of years. The eurozone only caught up year on year in Q2 2022.

Our performance is comparable to the USA & Japan and 1.5 times Germany in Q3 22.



lies, lies and Blasters statistics?

Oh dear, try reading around a bit.

https://www.nytimes.com/2022/08/12/b...k-economy.html

Britons are facing a bleak combination of stagnant or declining economic growth with one of the highest inflation rates among its rich-economy peers. In June, inflation climbed to 9.4 percent, the highest in 40 years, but isn’t expected to peak until it reaches 13 percent in October. The Bank of England, which has been steadily raising interest rates since December in an effort to restrain rapid price rises, predicted last week that the country would enter a recession at the end of the year and wouldn’t exit it until the beginning of 2024.

Here's an interesting article:

https://www.independent.co.uk/news/u...-b2250813.html

Two-thirds of Britons now support future referendum on rejoining the EU

Which is not surprising. They just need to look at France:

https://www.bloomberg.com/news/artic...-in-early-2023

French Economy Set to Dodge Recession With Growth in Early 2023

[vetran]

I know I shouldn't bite, but...your ranking based on 2023 forecast has UK as third from the end, also 0.2% difference when we are talking 0.3% TOTAL increase / decrease is pretty significant wouldn't you say?

Well you understand its a forecast so that is a start!

Well it is worse for Germany at a 0.6% less or Italy at 05% less than us both have negative growth compared to our lower than the Eurozone but still positive growth.

[BlasterBates]

Well you understand its a forecast so that is a start!

Well it is worse for Germany at a 0.6% less or Italy at 05% less than us both have negative growth compared to our lower than the Eurozone but still positive growth.

You need to read around.


https://www.bloomberg.com/news/articles/2022-11-22/uk-at-bottom-of-g-7-growth-league-for-next-two-years-oecd-says

UK at Bottom of G-7 Growth League for Next Two Years, OECD Says

[vetran]

Your “real” figures only work if you ignore the train crash that meant we recovered in late 21 and into 22 compared with how much we fell in the pandemic

so is the issue that we are now only growing slightly less than the Eurozone having grown significantly more and faster after a global pandemic crash?

Is that like "my pants are drying after I pissed myself, but as they are nearly dry they aren't drying as quickly as France?"

[vetran]

You need to read around.


https://www.bloomberg.com/news/articles/2022-11-22/uk-at-bottom-of-g-7-growth-league-for-next-two-years-oecd-says

read around the forecasts?

[BlasterBates]

read around the forecasts?

Just try reading your own posts. The 3.9% growth was the IMF forecast made in 2021 and was wrong. You contradicted yourself with the figures you posted for actual GDP showing the UK flatlining

Q1 0.6
Q2 0.1
Q3 -0.3
Q4 wasn't in your post but the preliminary figure is -0.3

GDP growth in the UK for 2022 was 0.6 + .0.1 -0.3 -0.3 = 0.1

[Fraidycat]

UK economy only one in G7 expected to shrink this year, even Russia is set to grow.






Russian economy only shrank 2.2 in 2022. Seems like the economic sanctions on Russia, hit Europe harder than Russia itself.

[Paddy]

The only difference between the UK and the other G7s is Brexit.

[vetran]

UK economy only one in G7 expected to shrink this year, even Russia is set to grow.






Russian economy only shrank 2.2 in 2022. Seems like the economic sanctions on Russia, hit Europe harder than Russia itself.

Prediction = Forecast=Guess

one would expect it to be an educated guess but even the FT doubts their abilities

https://www.ft.com/content/60581224-...f-23cb17fd1498

The FT looked at the number of countries that the IMF expected to be in recession for every year since 1991 and compared it with the number of economies that turned out to have actually contracted. Over the last 27 years, the IMF has predicted every October that an average of five economies will contract the following year. In practice, an average of 26 have contracted. This suggests that the six countries that the IMF predict will be in recession for 2018 could rise to as many as 31.