IMF - oops we got it wrong

[vetran]

I refer to my earlier post...

you know just because you provide wisdom doesn't mean any posters will believe you!

[malvolio]

Oh dear more bad news... Germany is in recession.

https://www.dailymail.co.uk/news/art...-forecast.html

I refer to my earlier post...

[vetran]

Oh dear more bad news... Germany is in recession.

https://www.dailymail.co.uk/news/art...-forecast.html

Germany enters recession following economic 'collapse' - and experts predict the situation is only going to get WORSE for Europe's largest economy... as IMF sharply upgrades UK growth forecast

• German economy has suffered an unexpected dip and has fallen into a recession
• Figures come as blow to German government which predicted economic uptick

[vetran]

Growth figures from a poor country will always appear greater than a rich country. ie Germany is still doing better than the UK.

but but but I thought the UK was supposed to be in a fatal tail spin caused by the B word and Britain's general incompetence but it seems to be growing fast??

[malvolio]

Growth figures from a poor country will always appear greater than a rich country. ie Germany is still doing better than the UK.

Really? The obvious difference is not actually that significant. Germany's economy is buoyed up by cheap Russian gas (even now...) and a manufacturing base that sells heavily to China. How long, in the current world, do you think that will continue?

Yes the German economy is bigger, but it is not necessarily that much stronger. What's killing us is the lack of in house energy platform - most of ours is imported US fracking gas - and a government that is far too cautious in its medium to long term planning.

[Paddy]

https://www.dailymail.co.uk/news/art...sion-year.html

Growth figures from a poor country will always appear greater than a rich country. ie Germany is still doing better than the UK.

[vetran]

A economic forecast like a weather forecast is an estimation of the future.

However what organisations like the IMF say severely affects access to credit.

Think of it as a credit score for countries.

[SueEllen]

A economic forecast like a weather forecast is an estimation of the future.

[vetran]

https://www.dailymail.co.uk/news/art...sion-year.html

'Today's IMF report shows a big upgrade to the UK's growth forecast and credits our action to restore stability and tame inflation,' he said.

'It praises our childcare reforms, the Windsor Framework and business investment incentives.

'If we stick to the plan, the IMF confirm our long-term growth prospects are stronger than in Germany, France and Italy – but the job is not done yet.'

Tories have often mocked the IMF's downbeat views of Britain's prospects.

The Bank of England has also been forced to revise its grim outlook for the UK economy in recent weeks.

The IMF economists made no change to the growth forecast of 1 per cent for next year.

And Britain is no longer expected to be the worst performer in the G7 this year, with growth slated to be better than Germany.

The UK had the fastest growth in the G7 in both 2021 and 2022.