UK economy shrank by 2.6% in November as services suffered
15/01/2021
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news
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Coronavirus restrictions in England affected services, with pubs and hairdressers badly hit.
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Pinzamoss
15/01/2021 10:46:36
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22
bbc
Economy contracting during a global pandemic lockdown? Not really news is it? Move along, nothing to see here….
I disagree, we need to know what has suffered and by how much so that, when this is all over, we can rebuild our economy fairly. We also need to know which sectors coped best, paid the most in tax etc, so that can also be appreciated. Your reaction I guess is political.
If you only read the headline, then I guess it is pretty pointless, however there's a whole article which goes into some detail. Did you already know that the economy shrank by 2.6%? Did you know that construction grew by nearly 2%?
No, it's not news that it shrank. But *where* it's falling and *where* it's growing is news if you can be bothered to read it.
No, it's not news that it shrank. But *where* it's falling and *where* it's growing is news if you can be bothered to read it.
Well of course the economy shrank. No surprises there.
No HYS from the BBC on Priti Patel losing police records ? And what about the threat to employment laws from the Tories ?
It's all very well having a "strong economy", but if policing is a mess and our rights are taken away post-Brexit, what is the point ?
No HYS from the BBC on Priti Patel losing police records ? And what about the threat to employment laws from the Tories ?
It's all very well having a "strong economy", but if policing is a mess and our rights are taken away post-Brexit, what is the point ?
“No HYS from the BBC on Priti Patel losing police records ? “
Wow, so the Minister personally lost some Police records?
Of course not, some Police employee lost/destroyed the records and undoubtedly will not lose either their job nor pension entitlement as normal in the public sector. Removed
Wow, so the Minister personally lost some Police records?
Of course not, some Police employee lost/destroyed the records and undoubtedly will not lose either their job nor pension entitlement as normal in the public sector. Removed
If the BBC have a HYS on Patel then it will be filled with comments saying "of course BBC have opened this one up - it's their Tory-bashing, lefty liberal agender". The BBC can't win with the hardline Tories & Brexiters who just troll the site and try to spread misinformation & propaganda.
yawn
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There is some positivity in this article but you'll have to go to the bottom to find it. Specialists say that we may well recover quicker than expected which is great news.
Don't just read the headline, that lets be honest we all expected
Don't just read the headline, that lets be honest we all expected
'The UK economy shrank by 2.6% in November'
That's a lot better than it could be.
Shouldn't the headline state - 'The UK economy only shrank by 2.6% in November'
But that wouldn't fit in with the agenda driven reporting
That's a lot better than it could be.
Shouldn't the headline state - 'The UK economy only shrank by 2.6% in November'
But that wouldn't fit in with the agenda driven reporting
If you don't like the BBC, please go elsewhere (Breitbart, Daily Express, Daily Mail). We are very lucky to have a national and influential broadcaster that is NOT owned by a media mogul who uses said media outlet to push their own agenda and make themselves a few more billions. The Murdoch's, Rothchilds, Barclay Bros, Lord Lebedev's should not be controlling our media but they do.
Removed
Would you rather the BBC just ignored all the bad news and showed you videos of kittens all day? Things are really bad, whether you choose to deny it or not.
What is the problem exactly. They reported the figure as it is which is unbiased, by putting only in means that they are creating bias or adding an interpretation which proper news outlets aren't allowed to do.
Stop being such a snowflake over someone telling you the truth....
Stop being such a snowflake over someone telling you the truth....
So why are YOU not in the position at the BBC to do that?
Not competent enough?
Not competent enough?
That's about as useful as saying "x million didn't die of covid today"
But I suppose in your topsy-turvey world, you'd call that 'reporting'
But I suppose in your topsy-turvey world, you'd call that 'reporting'
The only agenda here is yours.
Unfortunately the truth is the actual economic impact is far worse. The GDP figures include government spending which artificially raises the GDP, but obviously is something we will all pay for later, either in taxes or reduced pensions. The private sector has fallen through the floor. Seems to me that in this case the BBC are being overly positive rather than the other way round
Totally agree. The headline reads like it’s a bit of an unexpected shock.
They should have different definition of “recession” when it’s imposed, nothing to do with underlying strengths.
They should have different definition of “recession” when it’s imposed, nothing to do with underlying strengths.
Bojo should have asked EU for a transition extension he had the perfect excuse Covid19!
"only" is subjective opinion.
And I imagine for most people familiar with GDP numbers, a 2.6% contraction in one quarter is not considered an "only" figure.
And I imagine for most people familiar with GDP numbers, a 2.6% contraction in one quarter is not considered an "only" figure.
I'm sure the people who have lost their jobs will be comforted by your words. This and talk of works rights facing major reforms all win win for the tory ilk. Those borrowed votes are just that. Time for the adults to take over.
I don't trust the BBC to be impartial any more. I look at it, then also look at other source. They have declined massively.
2.6% result is a lot lower than was forecast - which is positive. But the BBC don't do positive in relation to our Government.
The forecast was a 5.7% drop (quoted in The Times).
2.6% result is a lot lower than was forecast - which is positive. But the BBC don't do positive in relation to our Government.
The forecast was a 5.7% drop (quoted in The Times).
Well said, nothing like putting a positive spin on things. Some people enjoy the misery and love to wallow in for as long as possible.
Arcangel, Guitarsolo case and point - constantly being negative, enjoying the dram and being miserable - I wish the pair of them the most miserable time ever
Arcangel, Guitarsolo case and point - constantly being negative, enjoying the dram and being miserable - I wish the pair of them the most miserable time ever
So the independent ONS publish a report that states: "The UK economy shrank by 2.6 in November."
But you want the BBC, for political reasons, to alter their report by adding the word "only".
Are there many other factual pieces of information you would like to be altered or censored by the media before the public gets to see it?
But you want the BBC, for political reasons, to alter their report by adding the word "only".
Are there many other factual pieces of information you would like to be altered or censored by the media before the public gets to see it?
You must have read the Boris book on deflection. Good try though.
The BBC is firmly right of centre these days...fearful of its own existence under this Conservative elective dictatorship. Tories have swept any vestige of 'balance' in UK run media and it is about to get a lot worse with Fox style news channels. Still, you'll be perfectly comfortable with that!
not a lot better if you are one of the 80.000 to have lost their jobs so far, and the many more to come.
amazed you see that as good news.
amazed you see that as good news.
@Move D By adding the 'only' YOU turn it into agenda-driven reporting. The BBC headline is a factual statement; yours is not.
The problem we and much of the world economy has is Central Banks and Governments are keeping an otherwise dead economic system on life support, instead of admitting the whole system is broken and needing replacement.
This is why QE and low or negative interest rates have prevailed for over a decade. Aspiring for perpetual growth is impossible and we need to change to something more sustainable.
This is why QE and low or negative interest rates have prevailed for over a decade. Aspiring for perpetual growth is impossible and we need to change to something more sustainable.
Yes, we used to have a windmill economy, along with witch-hunting, ducking stools, women in the kitchen, people dying at 40, etc.
And what do you suggest we replace the system with?
Sustainment and stability is absolutely key - a challenge to address as its different
The problem is not having sound money. When the biggest player in the economy (the state) can simply print more tokens to spend at will, the end result is disaster. Every fiat currency in history has eventually gone to zero.
??
To BWhit480 The only alternative to perpetual growth is stagnation , inflation and reduced living standards . As the UK has no means of manufacturing us out of this hole this is probably inevitable .
The EU is still pumping billions in QE every month just to keep them afloat, whilst we're out of the EU this will have a global impact when the bubble bursts.
As. Ever. the BBC neglects to highlight the real reason for this downturn. it is not Covid. Covid this, Covid that. the reason for the UK economy to falter at any one time, is the weather. it's. the. weather.
and why the h*ll am I getting links to rupauls drag race at the bottom of the screen?
and why the h*ll am I getting links to rupauls drag race at the bottom of the screen?
It's not a Health Emergency if you have to put Draconian Laws in place to force the People into compliance.
But what if next time that's not the case?
When this virus has faded into the background of accepted societal risk, as it surely will. What resources will we have left: Umpteen Billion Pounds later, to fight a genuine threat.
This Madness needs to stop, end the quarantine of the well & PTV
But what if next time that's not the case?
When this virus has faded into the background of accepted societal risk, as it surely will. What resources will we have left: Umpteen Billion Pounds later, to fight a genuine threat.
This Madness needs to stop, end the quarantine of the well & PTV
You would think that this 'small' decrease in GDP is actually a lot bigger, its just that the Governent is papering over the cracks with its ridiculous levels of state spending. That is going to come back to bite us. Whether its this year or the next, all the government is doing is putting us all in debt and delaying the job losses. Its coming, and there is no evading that now.
well put; government has needed for quite sometime to be more careful with how they are spending our money for covid support measures...tax rises ahead
But that's what people want, furlough and free meals - my kids get about the same for their lunches as in the Beeb's article yesterday, but thanks to a footballer and celebrity chefs, who avoid tax, the kids of the feckless will be given gourmet food whilst mine get sarnies.
And I'll be paying off the debt incurred to fund the lockdown bailouts, so won't be spending in the reopened shops and pubs.
And I'll be paying off the debt incurred to fund the lockdown bailouts, so won't be spending in the reopened shops and pubs.
Its been widely recognised that the austerity policies of the Cameron years and lack of capital spending & suppressing growth in the Economy was like applying weedkiller to our economy. Thats why we ran up such a massive increase in Govt debt from 2010 and loss of productivity. It was a disaster.
They can't repeat that. All this Govt has left in its pot is to spend.
They can't repeat that. All this Govt has left in its pot is to spend.
I know it's almost as if they cared about people losing their jobs. What tosh, if they weren't spending you'd be moaning. they are spending your moaning.
you have contradicted your self, is biden's 1.9 trillion package ridiculous?
I'm sure the economy shrank during lockdown.
I also believe the Pope might well be catholic
I also believe the Pope might well be catholic
Just remember, we are expected to perform the worst globally due to a mix of COVID and Brexit, 2021 is going to be tough.
We were going to be the worst performer coming out of the credit crunch due our exposure to financial markets and banking.
The outcome was the best employment performance in Europe - to the extent other EU nations exported their unemployed to us but still their unemployment rocketed.
Don't write the economy or the freedom of action brought by Brexit off yet.
The outcome was the best employment performance in Europe - to the extent other EU nations exported their unemployed to us but still their unemployment rocketed.
Don't write the economy or the freedom of action brought by Brexit off yet.
Most people are only interested in how it has affected them.
More personal than political.
More personal than political.
No suprise the economy has taken a hit with a such a poor government.
But you wanted the lockdown to last even longer. Make your mind up. After all, destroying the economy represents Boris helping his business chums, doesn't it?
You were not expecting an economy in a global pandemic not taking a hit?
The question is why it is not bigger?
The question is why it is not bigger?
If you only read the headline, then I guess it is pretty pointless, however there's a whole article which goes into some detail. Did you already know that the economy shrank by 2.6%? Did you know that construction grew by nearly 2%?
No, it's not news that it shrank. But *where* it's falling and *where* it's growing is news if you can be bothered to read it.
No, it's not news that it shrank. But *where* it's falling and *where* it's growing is news if you can be bothered to read it.
I know the economy shrank, I can also tell you the economy will shrink this month too. Knowing the detail of how and where the economy is shrinking may be of interest to economists and researchers, and is probably worth an article in a specialist magazine. But I'm sure that the average BBC news website reader is not interested in such detail. So making it a headline story smacks of politics.
I would tend to suggest to YOU, that the article itself is political, in the way it is presented. Why headline it with something which it quite obvious? It's intended to provoke a reaction, to worry people, to cast doubt on the government's economic competency. But right here, right now, they don't have a lot of control or choice, its what will happen afterwards which will affect people the most.
Another non story from the BBC, we all knew it would shrink. It will bounce back. Why can't we have a open discussion concerning certain communities reluctance to have a life saving jab? Therefore putting everyone at risk.
Well done BBC. In other news, the Pope is indeed Catholic.
We know it will shrink as people can't go out and do things. Hospitality is virtually none existent so you've told us the blindingly obvious.
We know it will shrink as people can't go out and do things. Hospitality is virtually none existent so you've told us the blindingly obvious.
Don’t you think just 2.6% isn’t bad? We’re you expecting a 5% or 20% contraction ? Do you not think it is important?
So you would rather it was not reported? How would that help?
Given the circumstances of Covid restrictions this appears to be a relatively let off. Perhaps stocking pre-release from the year end Brexit transition accounted for some uplift?
Obviously, the fallout from current lockdown does not auger well but this news does give hope that the economy is more robust than feared.
Obviously, the fallout from current lockdown does not auger well but this news does give hope that the economy is more robust than feared.
It'll get worse before it gets worse. Just think what the January figures will be, with Brexit to finally add to the damage.
I disagree, we need to know what has suffered and by how much so that, when this is all over, we can rebuild our economy fairly. We also need to know which sectors coped best, paid the most in tax etc, so that can also be appreciated. Your reaction I guess is political.
Here’s hoping Rishi manages to find some way to support the thousands of people that have been allowed to slip through the cracks so far and that this doesn’t just turn out to be another in a long line of measures to pump money to Tory donors and into supporting bloated asset prices of properties & shares.
In fact remarkably good figures in the circumstances. The fact that the economy grew at all between April and November, is a testament to the resilience of the UK economy in general. It bodes well for our prospects after the vaccination program really kicks in.
The reason it grew was because thing's opened. Btw even when it grew, it didn't recover its losses yet.
I disagree, we need to know what has suffered and by how much so that, when this is all over, we can rebuild our economy fairly. We also need to know which sectors coped best, paid the most in tax etc, so that can also be appreciated. Your reaction I guess is political.
Well of course the economy shrank. No surprises there.
No HYS from the BBC on Priti Patel losing police records ? And what about the threat to employment laws from the Tories ?
It's all very well having a "strong economy", but if policing is a mess and our rights are taken away post-Brexit, what is the point ?
No HYS from the BBC on Priti Patel losing police records ? And what about the threat to employment laws from the Tories ?
It's all very well having a "strong economy", but if policing is a mess and our rights are taken away post-Brexit, what is the point ?
Too many people are still under the mistaken belief that you can either tackle the virus, or save the economy, but not both. That's completely wrong. The economy is saved by tackling the virus quickly and effectively - as demonstrated by several countries in the Far East.
In other news bears defecate in the woods. You shut down the economy of course GDP is going to fall
still important to report on how much it fell by, -2.6% is considerably better then most people would have expected
UK economy shrank by 2.6% in November as services suffered
Surprise,surprise.Whats the point of this article. WE ALL KNOW THE ECONOMY IS SHRINKING ATM.We are in the middle of a Pandemic.
Surprise,surprise.Whats the point of this article. WE ALL KNOW THE ECONOMY IS SHRINKING ATM.We are in the middle of a Pandemic.
On 1/1/21 £1.5T per year of financial services business moved from the UK to EU platforms. This had nothing to do with Covid, it was purely a function of the bad Brexit deal the Tories negotiated.
The Tories are making the situation far far worse than it needed to be.
The Tories are making the situation far far worse than it needed to be.
I disagree, we need to know what has suffered and by how much so that, when this is all over, we can rebuild our economy fairly. We also need to know which sectors coped best, paid the most in tax etc, so that can also be appreciated. Your reaction I guess is political.
You would think that this 'small' decrease in GDP is actually a lot bigger, its just that the Governent is papering over the cracks with its ridiculous levels of state spending. That is going to come back to bite us. Whether its this year or the next, all the government is doing is putting us all in debt and delaying the job losses. Its coming, and there is no evading that now.
“Our money” ???????
Nope the government haven’t got any of mine.
Nope the government haven’t got any of mine.
That is only fair, especially if you have been furloughed.
Excellent news. The more damage that is done the happier I shall be.
Why? Because I like to see destruction.
Like every month, the BBC published the ONS figures on GDP.
In the summer months, HYS Boris fanboys proclaimed the great news of an economic bounce back. No angry voices shouting "why are you reporting the bleeding obvious BBC!"
Today will be different. Cue fanboys....
In the summer months, HYS Boris fanboys proclaimed the great news of an economic bounce back. No angry voices shouting "why are you reporting the bleeding obvious BBC!"
Today will be different. Cue fanboys....
Well of course the economy shrank. No surprises there.
No HYS from the BBC on Priti Patel losing police records ? And what about the threat to employment laws from the Tories ?
It's all very well having a "strong economy", but if policing is a mess and our rights are taken away post-Brexit, what is the point ?
No HYS from the BBC on Priti Patel losing police records ? And what about the threat to employment laws from the Tories ?
It's all very well having a "strong economy", but if policing is a mess and our rights are taken away post-Brexit, what is the point ?
Wouldn’t need to be longer if it had been done earlier.
Remember the horse racing that went ahead where 200,000 people over 4 days attended. Then the football game with people flying in from a hotspot (Madrid).
You should be asking - why are we not quarantining people when they fly over? Why did we never do it?
Captain forsight would have had this under control with the Tory money forest
Remember the horse racing that went ahead where 200,000 people over 4 days attended. Then the football game with people flying in from a hotspot (Madrid).
You should be asking - why are we not quarantining people when they fly over? Why did we never do it?
Captain forsight would have had this under control with the Tory money forest
If you don't like the BBC, please go elsewhere (Breitbart, Daily Express, Daily Mail). We are very lucky to have a national and influential broadcaster that is NOT owned by a media mogul who uses said media outlet to push their own agenda and make themselves a few more billions. The Murdoch's, Rothchilds, Barclay Bros, Lord Lebedev's should not be controlling our media but they do.
Removed
Because we're forced to pay £157.50 for it!
Unlike those newspapers.
Unlike those newspapers.
Their essentially owned by the government.
So Tory grandees in charge for most of bbc history makes it more “independent”......?
Unbelievable that nowadays there are people who still believe in the impartiality of the BBC...
But the BBC is crap!
Muppet
Whether we like to admit it or not, the BBC does indeed have agendas. And the current one is to appease the Tories because of fear of what might happen with the TV licence. There are also regional agendas as well. In Scotland, for example, there is a very definite anti-SNP/Independence agenda. In Northern Ireland there is a slightly pro-Republican agenda. These manifest themselves subtly.
what part of the BBC do you work for ! the BBC is ruled by a media mogul called the Conservative party you fool
influential i.e. they have their own agenda. I don't buy the mail or express as I don't like their view but Still have to pay for the BBC to ram this view
Errrm ....no!
I have to pay for this completely biased left wing institution via this compulsorary license fee and I don't feel at all lucky about it. I , and I am sure many others, will carry on calling out the BBC on their complete lack of impartiality. Let's see how long the BBC lasts if it had to stand on it's own 2 feet.
I have to pay for this completely biased left wing institution via this compulsorary license fee and I don't feel at all lucky about it. I , and I am sure many others, will carry on calling out the BBC on their complete lack of impartiality. Let's see how long the BBC lasts if it had to stand on it's own 2 feet.
We are very unfortunate to have a national broadcaster that promotes left wing, anti-British, politically correct propaganda and which has been funded for years by the EU.
Should all media be run by Labour and the unsuccessful?
Countries that have had the courage to eliminate the virus have got their lives back and their economies, albeit in more difficult circumstances than usual.
We have had a series of belated half hearted measures that are wrecking the economy and we are still overrun by the virus.
We are completely dependent on a vaccine, if this fails for any reason we go straight back to being stuffed.
We have had a series of belated half hearted measures that are wrecking the economy and we are still overrun by the virus.
We are completely dependent on a vaccine, if this fails for any reason we go straight back to being stuffed.
Our main problem is bone headed and ignorant people spreading the virus.
We don't have to WAIT for the government to tell us what to do! If everyone just followed as asked (not demanded, note) then we would be better off. We wouldn't then be so dependant on the vaccine.
Can you name one country that has 'eliminated' the virus without shutting all borders and businesses? No? Didn't think so
Can you name one country that has 'eliminated' the virus without shutting all borders and businesses? No? Didn't think so
You'd better notify the EU.
People's lives are more important than GDP figures.
The economy will bounce back but those who are losing loved ones will never get them back
The economy will bounce back but those who are losing loved ones will never get them back
It is not either or, as loss of livelihoods affect people’s lives, and decrease their life spans. Applying the measure of years of life lost there is no moral case for extending closing down the economy for a second longer than the point at which the NHS ceases to be literally overwhelmed. Any COVID zero approach will kill far more than it saves.
Wealth sustains the health service. And lockdowns don't work.
Nope, the question is why it is so high.
It could and should have been much less, indeed it has been much less in the rest of Europe.
Had the UK government responded effectively and quickly at the beginning we would have got out of lockdown sooner as we would have been able to keep the number of infections and deaths at a much lower level using short lockdowns to keep a lid on it.
It could and should have been much less, indeed it has been much less in the rest of Europe.
Had the UK government responded effectively and quickly at the beginning we would have got out of lockdown sooner as we would have been able to keep the number of infections and deaths at a much lower level using short lockdowns to keep a lid on it.
Excellent news. The more damage that is done the happier I shall be.
Like every month, the BBC published the ONS figures on GDP.
In the summer months, HYS Boris fanboys proclaimed the great news of an economic bounce back. No angry voices shouting "why are you reporting the bleeding obvious BBC!"
Today will be different. Cue fanboys....
In the summer months, HYS Boris fanboys proclaimed the great news of an economic bounce back. No angry voices shouting "why are you reporting the bleeding obvious BBC!"
Today will be different. Cue fanboys....
The Magic Grandpa would have spent the Covid budget before the virus arrived!!
Under Labour PEOPLE not ???????? would have come first, but you seem to lack even basic humanity.
Removed
Inevitably, even though Labour have not been in power for many years......
"Ahhhh! but Corbyn!"
"Ahhhh! but Corbyn!"
Ah. The "whatifery" defence. Always a sign of someone running out of a counter argument.
History tells us it would have been far better under Labour.
GDP growth is consistently higher under Labour governments, indeed it averaged a faster growth rate between 1997 and 2010 (including the financial crash) than it did between 2010 and 2019 (excluding the covid impact)
Also Labour always invest more in the NHS, so it would have been far better prepared to respond to this crisis.
GDP growth is consistently higher under Labour governments, indeed it averaged a faster growth rate between 1997 and 2010 (including the financial crash) than it did between 2010 and 2019 (excluding the covid impact)
Also Labour always invest more in the NHS, so it would have been far better prepared to respond to this crisis.
We all new it was going to happen but why the complaining about the story, we are interested in the extent of the contraction.
I think people are (rightly) suspicious of the BBC's bias and motives, hence the complaints?
As others have noted, whilst mistakes have certainly been made, the UK is actually doing reasonably well in some regards during this crisis, particularly in respect of vaccinations. In economic terms, the Pound is strengthening against the Euro and Dollar, and the FTSE250 is riding high. Could be worse.
As others have noted, whilst mistakes have certainly been made, the UK is actually doing reasonably well in some regards during this crisis, particularly in respect of vaccinations. In economic terms, the Pound is strengthening against the Euro and Dollar, and the FTSE250 is riding high. Could be worse.
Cos it's a rubbish story - just softening you up for the "extent of the contraction" you're going to feel post 'brexs*it'. Clench tightly, big guy.
Knew?
Just wait until next month. With all the mountains of paperwork at the borders. With so many EU hauliers not delivering to the UK, and drivers not wanting to deliver for companies who will deliver.
You have to remember the BBC and remainers are our Elite, they don't get their hands dirty, the maid, butler and servants do all their work ;-)
And its lockdown 3.
You might have thought after 12 months of covid lessons ukgov would now be covid competent.
Instead after 12 months.. Highest covid deaths, covid+, lockdown 3 & over xmas, new year.
Seem to remember gas bag saying 12 weeks, near normal Xmas etc..
You might have thought after 12 months of covid lessons ukgov would now be covid competent.
Instead after 12 months.. Highest covid deaths, covid+, lockdown 3 & over xmas, new year.
Seem to remember gas bag saying 12 weeks, near normal Xmas etc..
The repetitive idiocy we get from the Tory Bot Propaganda Machine is very boring; last month they were boasting at the huge increase in the GDP when it was obvious they'd be a huge increase when previously the economy had come to a standstill.
Of course, they didn't complain about the BBC reporting that increase.
Of course, they didn't complain about the BBC reporting that increase.
How long do you think the government will try and spin Covid out for?
They didn't "shut down everything" which is why we are having another lockdown now.
& note the reference to boozers & hairdressers - the heights of the economy?
a few weeks ago a welsh tv 'news' report on the economic effects of the virus included an interview with a Cardiff stripclub manager.
nothing like the real world is there?
a few weeks ago a welsh tv 'news' report on the economic effects of the virus included an interview with a Cardiff stripclub manager.
nothing like the real world is there?
In other news, bears use the woods as a loo.....usual BBC lazy news telling us what we all know!
If a Country must rely on its people spending on Credit cards (creating mountains of debt) in order to boost its Economy then the UK is screwed. The vast majority of UK PLC revenue is generated via Banking/Finance & thanks to BrExit this area of Industry has been royally shafted.
Covid is a convenient figleaf for economic decline caused by Brexit.
Brexit is a convenient figleaf for snobs to express their anti working class bigotry.
I'd say it was more of a fig leaf/distraction for the impending levels of state control heading our way. How else are you going to ring fence the internet and snoop on peoples data without uproar unless its in the peoples "best interest" to do so. One party states here we come!
No, it was the repeal of the Corn Laws.
If you only read the headline, then I guess it is pretty pointless, however there's a whole article which goes into some detail. Did you already know that the economy shrank by 2.6%? Did you know that construction grew by nearly 2%?
No, it's not news that it shrank. But *where* it's falling and *where* it's growing is news if you can be bothered to read it.
No, it's not news that it shrank. But *where* it's falling and *where* it's growing is news if you can be bothered to read it.
I know the economy shrank, I can also tell you the economy will shrink this month too. Knowing the detail of how and where the economy is shrinking may be of interest to economists and researchers, and is probably worth an article in a specialist magazine. But I'm sure that the average BBC news website reader is not interested in such detail. So making it a headline story smacks of politics.
Had Johnson acted sooner in March, the lockdown would have been less severe and thus the damage to the economy.
Still, at least his chums are creaming off plenty of tax-payers' loot for their non-tendered Covid contracts. Every cloud .....
Still, at least his chums are creaming off plenty of tax-payers' loot for their non-tendered Covid contracts. Every cloud .....
Is this Keir Starmer?
We are talking about November, nothing to do with the lockdown in March
You people coming out with the "acted sooner" nonsense? lol.
It'll get worse before it gets worse. Just think what the January figures will be, with Brexit to finally add to the damage.
Are you posting from the sunlit uplands? Here in the UK, Brexit is making things even worse.
The problem we and much of the world economy has is Central Banks and Governments are keeping an otherwise dead economic system on life support, instead of admitting the whole system is broken and needing replacement.
This is why QE and low or negative interest rates have prevailed for over a decade. Aspiring for perpetual growth is impossible and we need to change to something more sustainable.
This is why QE and low or negative interest rates have prevailed for over a decade. Aspiring for perpetual growth is impossible and we need to change to something more sustainable.
Now we have a "services" economy, populist reds-under-the-bed hunting, Pritti Patel in charge of the ducking stools, nobody capable of cooking from scratch, and miserable pensioners draining a system they haven't paid enough into until they are 140
Progress eh?
Progress eh?
There's a lot now, that haven't got a clue what you're on about, They've all moved on............?
I agree with BWit480, in fact I think that is why this Covid Crisis has been stoked up, it gives Governments the chance to claim the ensuring economic disaster was an 'Act of God or Nature if you are a Climate Change Atheist' Rather than a combination of 2007 can kicking QE & lock-downs.
That was like 1700.
Ukgov and bbc spout 5th largest economy in the world nowadays!
So we'd like to see some wealthy state pluses!
Ukgov and bbc spout 5th largest economy in the world nowadays!
So we'd like to see some wealthy state pluses!
What a stupid comment.
why not admit GDP ceilings are being reached .. so QE and mass immigration building on the Green Space is the last hurrah .... answer that .... why there is only population growth GDP left ..... Totally unsustainable and a pathetic collapse of Capitalism shifted onto the poorest...
You would think that this 'small' decrease in GDP is actually a lot bigger, its just that the Governent is papering over the cracks with its ridiculous levels of state spending. That is going to come back to bite us. Whether its this year or the next, all the government is doing is putting us all in debt and delaying the job losses. Its coming, and there is no evading that now.
But that's what people want, furlough and free meals - my kids get about the same for their lunches as in the Beeb's article yesterday, but thanks to a footballer and celebrity chefs, who avoid tax, the kids of the feckless will be given gourmet food whilst mine get sarnies.
And I'll be paying off the debt incurred to fund the lockdown bailouts, so won't be spending in the reopened shops and pubs.
And I'll be paying off the debt incurred to fund the lockdown bailouts, so won't be spending in the reopened shops and pubs.
In fact remarkably good figures in the circumstances. The fact that the economy grew at all between April and November, is a testament to the resilience of the UK economy in general. It bodes well for our prospects after the vaccination program really kicks in.
We need to keep getting more people vaccinated as fast as possible. The sooner we can open up the sooner the economy can recover.
my two other concerns, how are we paying back this country's massive debt?
If we vaccinate all >50's then coronavirus should pose little nhs threat but surely it'll spread rapidly across rest of the population, what are the consequences of that? new strains?
my two other concerns, how are we paying back this country's massive debt?
If we vaccinate all >50's then coronavirus should pose little nhs threat but surely it'll spread rapidly across rest of the population, what are the consequences of that? new strains?
If we fail to vaccinate everyone we leave the virus circulating in the population at a low level and waiting for the vaccination effects to wear off so it can explode again and leave us back where we are now.
OAP’s should be last to be vaccinated. They are a liability to the county and suck all the resoxirces. Should have immunised those working and proving
After a decade of inadequate taxation, an inefficient wealth distribution, and private sector debt exceeding the public sector debt, we clearly need some form of wealth tax.
all the world has to recover at same time. we live in a globalised world
All adults need to be vaccinated before the threat to the NHS is over. Death isn't the only bad outcome of infection. Once the weather gets better and people start opening windows and ventilating the restrictions can drop as spread reduces. Then it is a mad dash to get everybody else vaccinated before next winter.
it is a virus, they are always mutating and an RNA virus does so even more than a DNA one, so if you are going to believe the Covid Cult that we have the new black-death & every mutation causes another panicked response, then the future is bleak, the future is dystopian in thrall to the Covid Cult lock-downs - mind you it could be worse, we could be like Southern Europe's tourist economies.
Countries that have had the courage to eliminate the virus have got their lives back and their economies, albeit in more difficult circumstances than usual.
We have had a series of belated half hearted measures that are wrecking the economy and we are still overrun by the virus.
We are completely dependent on a vaccine, if this fails for any reason we go straight back to being stuffed.
We have had a series of belated half hearted measures that are wrecking the economy and we are still overrun by the virus.
We are completely dependent on a vaccine, if this fails for any reason we go straight back to being stuffed.
The rollercoaster will continue, GREED will continue, ripping customers off will continue and whinging along with whining will continue.
It will be everyone else’s fault an no one will take responsibility for their actions.
So basically nothing really changes.
Enjoy.
It will be everyone else’s fault an no one will take responsibility for their actions.
So basically nothing really changes.
Enjoy.
So you're taking responsibility, are you? Or is that someone else's job?
Well of course the economy shrank. No surprises there.
No HYS from the BBC on Priti Patel losing police records ? And what about the threat to employment laws from the Tories ?
It's all very well having a "strong economy", but if policing is a mess and our rights are taken away post-Brexit, what is the point ?
No HYS from the BBC on Priti Patel losing police records ? And what about the threat to employment laws from the Tories ?
It's all very well having a "strong economy", but if policing is a mess and our rights are taken away post-Brexit, what is the point ?
Countries that have had the courage to eliminate the virus have got their lives back and their economies, albeit in more difficult circumstances than usual.
We have had a series of belated half hearted measures that are wrecking the economy and we are still overrun by the virus.
We are completely dependent on a vaccine, if this fails for any reason we go straight back to being stuffed.
We have had a series of belated half hearted measures that are wrecking the economy and we are still overrun by the virus.
We are completely dependent on a vaccine, if this fails for any reason we go straight back to being stuffed.
Exactly, the number of people wanting to live in complete ignorance is shocking
yes, I would prefer kittens to the 'analysis' based tripe. I don't need some spotty millennial analysis thanks, I can make my own mind up
And you can see from the comments, the usual state-sunsidised malcontent leavers don't give a flying monkeys about their kids' suffering because Boris will bung them another 4% from April
Can you write in English, please?
Why open a HYS on this? Surely it was obviously going to happen so shouldn’t come as a surprise.
Had Johnson acted sooner in March, the lockdown would have been less severe and thus the damage to the economy.
Still, at least his chums are creaming off plenty of tax-payers' loot for their non-tendered Covid contracts. Every cloud .....
Still, at least his chums are creaming off plenty of tax-payers' loot for their non-tendered Covid contracts. Every cloud .....
Scottish Tory leader Douglas Ross said one skipper in his Moray constituency had found the value of his catch had fallen to “half of what he needs to cover his costs” as a result of Brexit and demanded compensation. Just wait until the full consequences of Brexit come through this is just the tip of the iceberg we are heading into
Which Iceberg is this? I thought fishing didn't matter only 0.01% of the economy -why should it matter?
Oh, I see it matters tremendously if it is a vehicle to slag Brexit off.
It was probably sorted by lunchtime yesterday.
Oh, I see it matters tremendously if it is a vehicle to slag Brexit off.
It was probably sorted by lunchtime yesterday.
And there should be absolutely no compensation if they voted to leave. They knew what they were voting for and repeatedly said so when challenged. Own it.
And when is the sky going to fall? We were assured it would be even before Jan 1st. You keep putting the moment back - a bit like a soothsayer does. Can we have some definite dates and more detail please?
Business is facing a perfect storm. As if Covid wasn't bad enough, the new trading arrangements under Brexit are proving unworkable. Many hauliers have suspended trading with Europe (e.g DPD and others). The long term effects of Brexit are beginning to look as if they will be worse than expected.
World War III, emergency budget, run on the pound (it's up) - when are you people finally going to admit you are wrong?
Ha ha ha ha ha ha... the FIGHT GOES ON!
"the new trading arrangements under Brexit are proving unworkable" lol, more remoaner lies. We were certainly lied to in 2016...by remoaners.
I do not believe the phrase "perfect storm" can be quantified. How many businesses need to go under, how many people need to die etc for the storm to be "perfect".
We need to keep getting more people vaccinated as fast as possible. The sooner we can open up the sooner the economy can recover.
my two other concerns, how are we paying back this country's massive debt?
If we vaccinate all >50's then coronavirus should pose little nhs threat but surely it'll spread rapidly across rest of the population, what are the consequences of that? new strains?
my two other concerns, how are we paying back this country's massive debt?
If we vaccinate all >50's then coronavirus should pose little nhs threat but surely it'll spread rapidly across rest of the population, what are the consequences of that? new strains?
Obviously you not a leading economist mate.!
Had Johnson acted sooner in March, the lockdown would have been less severe and thus the damage to the economy.
Still, at least his chums are creaming off plenty of tax-payers' loot for their non-tendered Covid contracts. Every cloud .....
Still, at least his chums are creaming off plenty of tax-payers' loot for their non-tendered Covid contracts. Every cloud .....
Really what the figures show is how the term "lockdown" has changed. I imagine the figures for Jan/Feb will also only show a small reduction, as bar hospitality and some specific industries we are not in "lockdown" now, still a lot of people at work and a lot of movement going on.
Why
Surely you can destroy your own life and leave the rest of us out of it !
Had Johnson acted sooner in March, the lockdown would have been less severe and thus the damage to the economy.
Still, at least his chums are creaming off plenty of tax-payers' loot for their non-tendered Covid contracts. Every cloud .....
Still, at least his chums are creaming off plenty of tax-payers' loot for their non-tendered Covid contracts. Every cloud .....
It is not either or, as loss of livelihoods affect people’s lives, and decrease their life spans. Applying the measure of years of life lost there is no moral case for extending closing down the economy for a second longer than the point at which the NHS ceases to be literally overwhelmed. Any COVID zero approach will kill far more than it saves.
Surprisingly, some of the population are actually concerned about the state of our economy.
These columns are always full of angry right wingers who are too delicate to hear bad news
To many people are furloughed in jobs which really no longer exist, or WFH sending emails round and round in circles. We aren't producing enough. Not surprised that GDP is poor.
People sending emails and WFH typically work in offices in places like London, Bournemouth.
The rest of the country need to up their game. We can’t expect office workers to bail out the lazy fishermen or the northerners still waiting for the mines to reopen Removed
The rest of the country need to up their game. We can’t expect office workers to bail out the lazy fishermen or the northerners still waiting for the mines to reopen Removed
Yet it clearly states manufacturing and construction are up.
Have to say my WFH job sending emails created £2 million of revenue & £680,000 profit since end of March.
Apologies it wasn't more for you!!!!!!!
Apologies it wasn't more for you!!!!!!!
The people who keep makers, installer and repairers running by supplying organising, accounting and maintaining communications, generally work in offices.
I have seen good businesses fall apart because they thought they could do without those people.
I have seen good businesses fall apart because they thought they could do without those people.
Slow hand clap for perpetuating a ridiculous perception of the sector sector: "It isn't valuable because it doesn't produce anything". Those who don't "produce" anything include nurses, doctors, lawyers, teachers, police officers, firefighters, university lecturers, architects, software engineers, mathematicians - Its pretty clear that the service sector is vital to our society.
Universal basic income is the way forward. As all manufacturing jobs will need to compete with east Europe and China and very low wages. Need retraining in new industrial areas like energy
We were going to be the worst performer coming out of the credit crunch due our exposure to financial markets and banking.
The outcome was the best employment performance in Europe - to the extent other EU nations exported their unemployed to us but still their unemployment rocketed.
Don't write the economy or the freedom of action brought by Brexit off yet.
The outcome was the best employment performance in Europe - to the extent other EU nations exported their unemployed to us but still their unemployment rocketed.
Don't write the economy or the freedom of action brought by Brexit off yet.
There’s no deal for financial services and jobs are leaving everyday. Since the tories sold the manufacturing FS is all we got and it’s leaving.
If you only read the headline, then I guess it is pretty pointless, however there's a whole article which goes into some detail. Did you already know that the economy shrank by 2.6%? Did you know that construction grew by nearly 2%?
No, it's not news that it shrank. But *where* it's falling and *where* it's growing is news if you can be bothered to read it.
No, it's not news that it shrank. But *where* it's falling and *where* it's growing is news if you can be bothered to read it.
I would tend to suggest to YOU, that the article itself is political, in the way it is presented. Why headline it with something which it quite obvious? It's intended to provoke a reaction, to worry people, to cast doubt on the government's economic competency. But right here, right now, they don't have a lot of control or choice, its what will happen afterwards which will affect people the most.
I was surprised Faisal did not blame brexit in all honesty!
Don’t worry that is still warming up, the full effect will be “challenging” to say the least.
That’s only just happened. But already workers rights are being torn down so look forward to working harder for longer for less
Am waiting for when the Government actually blame Brexit. dare they?
Don't worry about the lack of a Brexit mention.
There will be plenty of time over the next few years to continue the debate over the pros and cons of leaving the EU.
Brexit might be 'done', but it most certainly is not 'dusted'.
There will be many repercussions that will be unexpected.
There will be plenty of time over the next few years to continue the debate over the pros and cons of leaving the EU.
Brexit might be 'done', but it most certainly is not 'dusted'.
There will be many repercussions that will be unexpected.
they would blame brexit if it wasn't for the fact Covid has affected all the world economies
hope Faisal resists joining the freemasons
hope Faisal resists joining the freemasons
He probably did but because of the stunning accuracy of his other doom and gloom forecasts, a sub editor removed it.
I was surprised brexiters did not blame the EU, in all honest!
That effect will be arriving soon. The previous period included people trying to shift stuff before Brexit. The current and continuing delays at borders are as predicted, and disastrous.
Please don't Brexit is blame for everything
So enlighten us how Brexit will help.
Now is your chance, especially as you brought it up.
Now is your chance, especially as you brought it up.
He probably should have - but just wait to see what's coming. You're going to love it... complete, utter, desolate isolation. It's what you voted for... suck it up loser.
Early signs are not looking good. the prediction Fishermen would struggle to export their catch to EU markets - proven correct. more not less paperwork and bureaucracy - correct. some shop shortages - that's happened too. reduced food and farming standards - already legislated for. reducing workers rights - new proposals to remove EU working hrs directive. but still no sunlit uplands !
Already workers right starting to be stripped away. The working classes were fooled by millionaires and off shore billionaires so that the workers can work harsher for longer for less.
Countries that have had the courage to eliminate the virus have got their lives back and their economies, albeit in more difficult circumstances than usual.
We have had a series of belated half hearted measures that are wrecking the economy and we are still overrun by the virus.
We are completely dependent on a vaccine, if this fails for any reason we go straight back to being stuffed.
We have had a series of belated half hearted measures that are wrecking the economy and we are still overrun by the virus.
We are completely dependent on a vaccine, if this fails for any reason we go straight back to being stuffed.
We don't have to WAIT for the government to tell us what to do! If everyone just followed as asked (not demanded, note) then we would be better off. We wouldn't then be so dependant on the vaccine.
Can you name one country that has 'eliminated' the virus without shutting all borders and businesses? No? Didn't think so
Can you name one country that has 'eliminated' the virus without shutting all borders and businesses? No? Didn't think so
Unless they are BAME, LGBT or disabled, they are unlikely to be offered the chance to show they are competent enough!
If we can stop blaming and attacking each other all the time, we can make things work once we control the virus, not, as at present when the opposite is the truth. Firmer action initially was not taken. We have paid the price ever since
Just think what it must be like to see eight people die on your shift .
And what their loved ones are going though.
Empathy is a rare quality these days.
Just think what it must be like to see eight people die on your shift .
And what their loved ones are going though.
Empathy is a rare quality these days.
So you're attacking those who oppose lockdown. I get it.
Good thing may come out of it. Community spirit rekindled .People will focus on things that matter. Loving and caring for others rather than gathering junk or wasting time on selfish acts
West had it too good for too long. Living beyond their means . Just consuming & obeying their gods -telly, netflix , amazon...
Slow down, take a deep breath.Realise that the best things in life are not ...things
West had it too good for too long. Living beyond their means . Just consuming & obeying their gods -telly, netflix , amazon...
Slow down, take a deep breath.Realise that the best things in life are not ...things
No community spirit, a community of snitches, hypocrites and ill informed hysterical social media dwellers.
Slow down, take a deep breath. Realise that the best things in life are not things and that the family silver was sold a long time ago to the lowest bidder
OK, you live without "things" then. No house, bike, internet, etc. Go on - live according to what you preach.
The UK Government handling of this crisis has been totally incompetent.
Late to act at every stage, too focused on awarding contracts to friends and cronies, and reluctant to take the hard decisions they are elected to take.
At a point in UK history where we are facing one of our biggest challenges, we have the most incompetent government in the history of the country.
Late to act at every stage, too focused on awarding contracts to friends and cronies, and reluctant to take the hard decisions they are elected to take.
At a point in UK history where we are facing one of our biggest challenges, we have the most incompetent government in the history of the country.
I am guessing you are not much of a thinker, but if you have a moment look into our government’s work on vaccines and treatments. I hate to spoil it for you, but you may be surprised to find that our treatments and vaccines will save far more lives than we lose as a nation across the world. “Late at every stage” = leading the western world in saving the day. Funny things, these facts.
Have you ever tried talking truth or sense? You should try it - you'll gain some respect.
LOL no, the BBC are desperate to find it in the UK, otherwise they may have to start reporting on the ongoing disasters in the EU - in fact would Germany's health service have announced it's close to being overwhelmed had they been able to vaccinate as early as the UK, instead of being held back by the EU?
Countries that have had the courage to eliminate the virus have got their lives back and their economies, albeit in more difficult circumstances than usual.
We have had a series of belated half hearted measures that are wrecking the economy and we are still overrun by the virus.
We are completely dependent on a vaccine, if this fails for any reason we go straight back to being stuffed.
We have had a series of belated half hearted measures that are wrecking the economy and we are still overrun by the virus.
We are completely dependent on a vaccine, if this fails for any reason we go straight back to being stuffed.
Not a patch on Covid, unless of course you are blaming Germany's health service issues, EU vaccination issues, the fall of Italy's Government & the rise of Spanish middle class poverty & on Brexit.
Remainers told us it would happen when we left, and now it hasn't are moving the goalposts.
They work on the assumption that even a stopped clock is right twice a day....
They work on the assumption that even a stopped clock is right twice a day....
??
Removed
It does, but what can anybody do about it - right here, right now? Even government. We know these are tough times economically, most people don't need to be reminded every month when as the GDP figures are released. When things are better, THEN we need to see the figures, to see how the government is managing the recovery.
The problem we and much of the world economy has is Central Banks and Governments are keeping an otherwise dead economic system on life support, instead of admitting the whole system is broken and needing replacement.
This is why QE and low or negative interest rates have prevailed for over a decade. Aspiring for perpetual growth is impossible and we need to change to something more sustainable.
This is why QE and low or negative interest rates have prevailed for over a decade. Aspiring for perpetual growth is impossible and we need to change to something more sustainable.
Is this Keir Starmer?
Yep, workers' rights out the window, great news. It's time some people were taught the joy of having a job, rather than how much it pays and how hard it is.
"But already workers rights are being torn down" lol, you've definitely been to the same drama school as your remoaner friends.
I can't understand it though: you hate us Brexit-voting working classes but you claim to be concerned about our rights.
I can't understand it though: you hate us Brexit-voting working classes but you claim to be concerned about our rights.