OECD: Prospects brighter for global economy
09/03/2021
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news
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business
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The OECD upgrades forecasts for the UK and global economy, but says pandemic costs will weigh on countries.
1
charlie
09/03/2021 16:03:55
19
8
bbc
Economic growth is wedded to energy consumption and population growth, neither of which are good news for reversing environmental degradation.
The richer you are the less you appear to breed...
https://en.wikipedia.org/wiki/List_of_sovereign_states_and_dependencies_by_total_fertility_rate
https://en.wikipedia.org/wiki/List_of_sovereign_states_and_dependencies_by_total_fertility_rate
It wouldn't need to be if it wasn't for the fact that most people survive on debt, pretending to be much wealthier than they are, makes me laugh all those people in their flashy lease cars, that I could afford to buy cash but choose not to!
The global economy lost half a billion jobs, focus on those not some artificial GDP number.... which has been inflated with new worthless printed money. (Central banks this year effectively pulled off the greatest theft of all time)
I agree instead of focusing on the fall in GDP it is much better to look at the unemployent rate. In the UK although GDP fell sharper than France unemployment is and will be low . After the pandemic it is expected that UK unemployment will peak at 6.5 percent which is lower than France unemployment of 8 percent before the pandemic, and much lower than Spains unemployment of 16 percent.
"A leading international agency has upgraded its forecasts for global and British economic growth this year and next."
Global Britain is leading this with the US thanks to vaccine roll out. Well done Boris
Global Britain is leading this with the US thanks to vaccine roll out. Well done Boris
The richer you are the less you appear to breed...
https://en.wikipedia.org/wiki/List_of_sovereign_states_and_dependencies_by_total_fertility_rate
https://en.wikipedia.org/wiki/List_of_sovereign_states_and_dependencies_by_total_fertility_rate
The OECD is renowned for getting its forecasts horribly wrong.
A key to economic improvement will be how soon the UK is open for business, back to normal so to speak.
The UK having an impressive covid vaccine rollout will only help that.
The UK having an impressive covid vaccine rollout will only help that.
It would be bad for the UK if the EU really struggles. But I think recently the moaners have had to admit that the EU looks increasingly useless. We didn't join the EU anyway, it was forced on us by stealth, most of us were quite happy with the original non political trade agreement that we actually voted to join. Love Europe, detest the EU.
You can't say normal anymore. It offends the abnormal.
You must say ordinary to emphasise the extraordinary.
You must say ordinary to emphasise the extraordinary.
Unfortunately, cannot see how a sustainable growth can be made when there is so much BrExit related business loss (especially in c80% Service based Economy). Only way UK could prosper is to have better balance with Gender Rhetoric (ie currently dont see any Male Motivation, Male Bashing & everything is about Women Wellbeing, Example Front Page BBC!), more STEM Education, Tech/Pharma Manufacturing!
I produce stuff in the UK for the UK market, competing over the last two decades with mostly EU imports. Brexit has been brilliant for me, only positives so far. I just can;t produce enough to keep clients happy!
The UK vaccine success has highlighted that science and technology are the UK's strengths.
We need to build a whole host of world class science and tech companies.
This is the way forward. Not arguing over EU sandwich regulations.
We need to build a whole host of world class science and tech companies.
This is the way forward. Not arguing over EU sandwich regulations.
The UK doesn't have many of those, it is mainly service industries. Try the USA, Japan, EU, Scandy, SE Asia, RoC. RoK, PRC. The UK voted for sandwich regulations and it got what it voted for.
Right!
We do need to "build a whole host of world class science and tech companies" but that is a lot easier said than done.
UK has been living a champagne lifestyle on a beer income for two generations.
We simply aren't competitive.
Our productivity is amongst the worst in Europe.
Our infrastructure is mainly Victorian and creaking.
Our education system lags our competitors.
Fundamental problems!
We do need to "build a whole host of world class science and tech companies" but that is a lot easier said than done.
UK has been living a champagne lifestyle on a beer income for two generations.
We simply aren't competitive.
Our productivity is amongst the worst in Europe.
Our infrastructure is mainly Victorian and creaking.
Our education system lags our competitors.
Fundamental problems!
Yes, it was only people from the UK that developed vaccines. No those evil people from the EU, they had nothing to do with it.
We've left the EU, time to get over it. ;-)
We've left the EU, time to get over it. ;-)
Unfortunately, cannot see how a sustainable growth can be made when there is so much BrExit related business loss (especially in c80% Service based Economy). Only way UK could prosper is to have better balance with Gender Rhetoric (ie currently dont see any Male Motivation, Male Bashing & everything is about Women Wellbeing, Example Front Page BBC!), more STEM Education, Tech/Pharma Manufacturing!
Yup Walt, of course you can.........................
............and not 'most' : around half of UK adults have unsecured debt.
The global economy lost half a billion jobs, focus on those not some artificial GDP number.... which has been inflated with new worthless printed money. (Central banks this year effectively pulled off the greatest theft of all time)
I agree instead of focusing on the fall in GDP it is much better to look at the unemployent rate. In the UK although GDP fell sharper than France unemployment is and will be low . After the pandemic it is expected that UK unemployment will peak at 6.5 percent which is lower than France unemployment of 8 percent before the pandemic, and much lower than Spains unemployment of 16 percent.
Because France has strong employment laws, companies are loathe to take on anyone who might not perform, because it is almost impossible to get rid of them. People moan about ZoC here (mostly lefties with cushy public sector jobs who aren't affected by them!), but the UK has high employment because it has flexible employment.
A key to economic improvement will be how soon the UK is open for business, back to normal so to speak.
The UK having an impressive covid vaccine rollout will only help that.
The UK having an impressive covid vaccine rollout will only help that.
It would be bad for the UK if the EU really struggles. But I think recently the moaners have had to admit that the EU looks increasingly useless. We didn't join the EU anyway, it was forced on us by stealth, most of us were quite happy with the original non political trade agreement that we actually voted to join. Love Europe, detest the EU.
It would be bad for the UK if the EU really struggles. But I think recently the moaners have had to admit that the EU looks increasingly useless. We didn't join the EU anyway, it was forced on us by stealth, most of us were quite happy with the original non political trade agreement that we actually voted to join. Love Europe, detest the EU.
I agree instead of focusing on the fall in GDP it is much better to look at the unemployent rate. In the UK although GDP fell sharper than France unemployment is and will be low . After the pandemic it is expected that UK unemployment will peak at 6.5 percent which is lower than France unemployment of 8 percent before the pandemic, and much lower than Spains unemployment of 16 percent.
Because France has strong employment laws, companies are loathe to take on anyone who might not perform, because it is almost impossible to get rid of them. People moan about ZoC here (mostly lefties with cushy public sector jobs who aren't affected by them!), but the UK has high employment because it has flexible employment.
True, plus France has employers national insurance of 30 percent compared to 14 percent in this country. Employer national insurance is basically a "tax on jobs', so because of lower employment tax businesses are incentivised to hire more workers.
The UK has high employment, because one hour a week counts as being employed.
I work for an Engineering company in Sunnyvale we had a peak in shipments just before the Trump years then things slowed down. Now it's picking up again the guidance from our customers is we will be busy through 2023 .
Good for you :)
My small engineering consultancy is also extremely busy and we're recruiting again in a few days. The business climate is bouyant.
Looking further afield, the FTSE250 is at an all-time high, inflation is low, unemployment is around 5% - things could be a lot worse.
It's down to the UK Government's vaccine strategy and management success, probably why they're 13% up in the polls.
My small engineering consultancy is also extremely busy and we're recruiting again in a few days. The business climate is bouyant.
Looking further afield, the FTSE250 is at an all-time high, inflation is low, unemployment is around 5% - things could be a lot worse.
It's down to the UK Government's vaccine strategy and management success, probably why they're 13% up in the polls.
Because France has strong employment laws, companies are loathe to take on anyone who might not perform, because it is almost impossible to get rid of them. People moan about ZoC here (mostly lefties with cushy public sector jobs who aren't affected by them!), but the UK has high employment because it has flexible employment.
The restrictions on shipping caused by container shortages will help with sourcing products closer to home.
The recovery in the UK will be quicker than most imagine.
The recovery in the UK will be quicker than most imagine.
It depends on what goods, and at what price. People could just as easily decide to do without.
U17881151
The UK vaccine success has highlighted that science and technology are the UK's strengths.
We need to build a whole host of world class science and tech companies.
This is the way forward. Not arguing over EU sandwich regulations.
**
As you say all good : but for global businesses.
..................as an awful lot are in 2021.
A fact a lot on here don't understand.
The UK vaccine success has highlighted that science and technology are the UK's strengths.
We need to build a whole host of world class science and tech companies.
This is the way forward. Not arguing over EU sandwich regulations.
**
As you say all good : but for global businesses.
..................as an awful lot are in 2021.
A fact a lot on here don't understand.
It wouldn't need to be if it wasn't for the fact that most people survive on debt, pretending to be much wealthier than they are, makes me laugh all those people in their flashy lease cars, that I could afford to buy cash but choose not to!
It wouldn't need to be if it wasn't for the fact that most people survive on debt, pretending to be much wealthier than they are, makes me laugh all those people in their flashy lease cars, that I could afford to buy cash but choose not to!
That is still an awful lot!
............and not 'most' : around half of UK adults have unsecured debt.
Propped up by a wave of cheap debt. The correction is coming.
The FTSE is barely as high as it was in 1999, despite regularly dropping declining companies and boosting it with growing firms.
As long as everyone is prepared to work hard and be productive, we should be able to beat the competition.
Everyone is looking for a bargain but that sure is difficult to do, if our manufacturing costs are to high and it is not up to the expected quality .
Everyone is looking for a bargain but that sure is difficult to do, if our manufacturing costs are to high and it is not up to the expected quality .
I won't be working any harder. Quite happy as it is.
No sign of any UK improvement. Brexit costs worsens our position.
I produce stuff in the UK for the UK market, competing over the last two decades with mostly EU imports. Brexit has been brilliant for me, only positives so far. I just can;t produce enough to keep clients happy!
It wouldn't need to be if it wasn't for the fact that most people survive on debt, pretending to be much wealthier than they are, makes me laugh all those people in their flashy lease cars, that I could afford to buy cash but choose not to!
No sunshine, my business is a beneficiary of Brexit, that is why I voted Leave.
Because France has strong employment laws, companies are loathe to take on anyone who might not perform, because it is almost impossible to get rid of them. People moan about ZoC here (mostly lefties with cushy public sector jobs who aren't affected by them!), but the UK has high employment because it has flexible employment.
As long as everyone is prepared to work hard and be productive, we should be able to beat the competition.
——
Simple Simon’s School of Economics says put your hands on your head and sing three choruses of Jerusalem.
——
Simple Simon’s School of Economics says put your hands on your head and sing three choruses of Jerusalem.
Brits haven't even competitive for 20 years and are getting worse.
"Simple Simon’s School of Economics says put your hands on your head and sing three choruses of Jerusalem."
Agreed it is an incredibly basic concept, but I'm not sure why you're mocking, are you suggesting that it's not actually true on a fundamental level? If so, the joke's on you I'm afraid.
Are you a fan of 'Corbynomics' or something?
Agreed it is an incredibly basic concept, but I'm not sure why you're mocking, are you suggesting that it's not actually true on a fundamental level? If so, the joke's on you I'm afraid.
Are you a fan of 'Corbynomics' or something?
"work hard and be productive"
... a recurrent phrase heard from retired, do-nothing grandads about their kids.
But reference Kwasi's report that it was "lazy" and complacent baby boomers that caused Britiain's economic decline with poor work ethics and missed opportunities
https://www.telegraph.co.uk/news/politics/9483268/Young-Tory-MPs-blame-lazy-baby-boomers-for-Britains-economic-decline.html
... a recurrent phrase heard from retired, do-nothing grandads about their kids.
But reference Kwasi's report that it was "lazy" and complacent baby boomers that caused Britiain's economic decline with poor work ethics and missed opportunities
https://www.telegraph.co.uk/news/politics/9483268/Young-Tory-MPs-blame-lazy-baby-boomers-for-Britains-economic-decline.html
This is really good news (for a change)
However, Scotland are going to need it...... NS latest blunder which will hit the news very shortly. Huge new tax bill hit to Scottish tax payer: This one is seismic!
www.telegraph.co.uk/politics/2021/03/09/fears-taxpayers-left-exposed-terms-potentially-disastrous-snp/
However, Scotland are going to need it...... NS latest blunder which will hit the news very shortly. Huge new tax bill hit to Scottish tax payer: This one is seismic!
www.telegraph.co.uk/politics/2021/03/09/fears-taxpayers-left-exposed-terms-potentially-disastrous-snp/
Sorry, this link might work better
https://www.telegraph.co.uk/politics/2021/03/09/fears-taxpayers-left-exposed-terms-potentially-disastrous-snp/
https://www.telegraph.co.uk/politics/2021/03/09/fears-taxpayers-left-exposed-terms-potentially-disastrous-snp/
I think you'll find the Gupta/Private Equity/steel mess extends far beyond Scotland.
Question is, Phil (or is it Momentum troll?) will HMG bail them out?
Can they afford to?
Can they afford not to, having based a large part of the Brexit argument on being able to bail out and subsidise BRITISH key industries free of EU intervention?
Question is, Phil (or is it Momentum troll?) will HMG bail them out?
Can they afford to?
Can they afford not to, having based a large part of the Brexit argument on being able to bail out and subsidise BRITISH key industries free of EU intervention?
This is really good news (for a change)
However, Scotland are going to need it...... NS latest blunder which will hit the news very shortly. Huge new tax bill hit to Scottish tax payer: This one is seismic!
www.telegraph.co.uk/politics/2021/03/09/fears-taxpayers-left-exposed-terms-potentially-disastrous-snp/
However, Scotland are going to need it...... NS latest blunder which will hit the news very shortly. Huge new tax bill hit to Scottish tax payer: This one is seismic!
www.telegraph.co.uk/politics/2021/03/09/fears-taxpayers-left-exposed-terms-potentially-disastrous-snp/
Sorry, this link might work better
https://www.telegraph.co.uk/politics/2021/03/09/fears-taxpayers-left-exposed-terms-potentially-disastrous-snp/
https://www.telegraph.co.uk/politics/2021/03/09/fears-taxpayers-left-exposed-terms-potentially-disastrous-snp/
As long as everyone is prepared to work hard and be productive, we should be able to beat the competition.
——
Simple Simon’s School of Economics says put your hands on your head and sing three choruses of Jerusalem.
——
Simple Simon’s School of Economics says put your hands on your head and sing three choruses of Jerusalem.
Sorry, this link might work better
https://www.telegraph.co.uk/politics/2021/03/09/fears-taxpayers-left-exposed-terms-potentially-disastrous-snp/
https://www.telegraph.co.uk/politics/2021/03/09/fears-taxpayers-left-exposed-terms-potentially-disastrous-snp/
I won't be working any harder. Quite happy as it is.
Propped up by a wave of cheap debt. The correction is coming.
Unfortunately, cannot see how a sustainable growth can be made when there is so much BrExit related business loss (especially in c80% Service based Economy). Only way UK could prosper is to have better balance with Gender Rhetoric (ie currently dont see any Male Motivation, Male Bashing & everything is about Women Wellbeing, Example Front Page BBC!), more STEM Education, Tech/Pharma Manufacturing!
It would be bad for the UK if the EU really struggles. But I think recently the moaners have had to admit that the EU looks increasingly useless. We didn't join the EU anyway, it was forced on us by stealth, most of us were quite happy with the original non political trade agreement that we actually voted to join. Love Europe, detest the EU.
The OECD is renowned for getting its forecasts horribly wrong.
The global economy lost half a billion jobs, focus on those not some artificial GDP number.... which has been inflated with new worthless printed money. (Central banks this year effectively pulled off the greatest theft of all time)
“A leading international agency has upgraded its forecasts for global and British economic growth this year and next”
Also outstrips net EU growth forecast of EU27.
So much for Brexit Project Fear 2!.
Also outstrips net EU growth forecast of EU27.
So much for Brexit Project Fear 2!.
Why do brexiteers keep lying about this kind of stuff. Ah yes, because they assume that, like themselves, nobody will actually check any bogus claim made about their brexit religion.
Removed
Not it's doesn't. Project reality continues. ;-)
“A leading international agency has upgraded its forecasts for global and British economic growth this year and next”
Also outstrips net EU growth forecast of EU27.
So much for Brexit Project Fear 2!.
Also outstrips net EU growth forecast of EU27.
So much for Brexit Project Fear 2!.
Sorry, this link might work better
https://www.telegraph.co.uk/politics/2021/03/09/fears-taxpayers-left-exposed-terms-potentially-disastrous-snp/
https://www.telegraph.co.uk/politics/2021/03/09/fears-taxpayers-left-exposed-terms-potentially-disastrous-snp/
As long as everyone is prepared to work hard and be productive, we should be able to beat the competition.
——
Simple Simon’s School of Economics says put your hands on your head and sing three choruses of Jerusalem.
——
Simple Simon’s School of Economics says put your hands on your head and sing three choruses of Jerusalem.
A key to economic improvement will be how soon the UK is open for business, back to normal so to speak.
The UK having an impressive covid vaccine rollout will only help that.
The UK having an impressive covid vaccine rollout will only help that.
U17881151
The UK vaccine success has highlighted that science and technology are the UK's strengths.
We need to build a whole host of world class science and tech companies.
This is the way forward. Not arguing over EU sandwich regulations.
**
As you say all good : but for global businesses.
..................as an awful lot are in 2021.
A fact a lot on here don't understand.
The UK vaccine success has highlighted that science and technology are the UK's strengths.
We need to build a whole host of world class science and tech companies.
This is the way forward. Not arguing over EU sandwich regulations.
**
As you say all good : but for global businesses.
..................as an awful lot are in 2021.
A fact a lot on here don't understand.
Unfortunately, cannot see how a sustainable growth can be made when there is so much BrExit related business loss (especially in c80% Service based Economy). Only way UK could prosper is to have better balance with Gender Rhetoric (ie currently dont see any Male Motivation, Male Bashing & everything is about Women Wellbeing, Example Front Page BBC!), more STEM Education, Tech/Pharma Manufacturing!
Right!
We do need to "build a whole host of world class science and tech companies" but that is a lot easier said than done.
UK has been living a champagne lifestyle on a beer income for two generations.
We simply aren't competitive.
Our productivity is amongst the worst in Europe.
Our infrastructure is mainly Victorian and creaking.
Our education system lags our competitors.
Fundamental problems!
We do need to "build a whole host of world class science and tech companies" but that is a lot easier said than done.
UK has been living a champagne lifestyle on a beer income for two generations.
We simply aren't competitive.
Our productivity is amongst the worst in Europe.
Our infrastructure is mainly Victorian and creaking.
Our education system lags our competitors.
Fundamental problems!
Massive government spending (& borrowing) has made it very. difficult to spot underlying economic trends.
Only when businesses are left to sink or swim and jobs to survive or vanish will we get a clear picture.
At the moment we are looking at a cardboard cutout of relative prosperity but even Rishi can't make cardboard last much longer.
Only when businesses are left to sink or swim and jobs to survive or vanish will we get a clear picture.
At the moment we are looking at a cardboard cutout of relative prosperity but even Rishi can't make cardboard last much longer.
There’s a rebound effect of course.
Spain 2021 forecast +5.7% (UK 5.1%) but dropped 11% in 2020 so 5.9% down over 2 years.
In contrast, Korea's forecast is a modest 3.3% but only dropped by 1% in 2020, so up 2.3% up over 2 years. Aus up 1.9% over 2 years.
The UK 5.3% down and the Euro Area 3.2% down over 2 years.
China bucks the trend with growth in both years for 10.4% growth over 2 years.
Spain 2021 forecast +5.7% (UK 5.1%) but dropped 11% in 2020 so 5.9% down over 2 years.
In contrast, Korea's forecast is a modest 3.3% but only dropped by 1% in 2020, so up 2.3% up over 2 years. Aus up 1.9% over 2 years.
The UK 5.3% down and the Euro Area 3.2% down over 2 years.
China bucks the trend with growth in both years for 10.4% growth over 2 years.
Percentages for subsequent years need to be multiplied to give the compounded value.
For example the UK figures you have there. 11% in year 1 followed by 5.1% up in year two means the figure at the end of year 2 is 6.4% lower than the figure at the start of year 1. It's because the 5.1% up in year 2 is only applied to the 89% of the economy left at the end of year 1.
For example the UK figures you have there. 11% in year 1 followed by 5.1% up in year two means the figure at the end of year 2 is 6.4% lower than the figure at the start of year 1. It's because the 5.1% up in year 2 is only applied to the 89% of the economy left at the end of year 1.
As ever, the story would be vastly improved by a comparison chart for the main economies.
A stunning omission, for example, is the data for Europe and the Eurozone.....
A stunning omission, for example, is the data for Europe and the Eurozone.....
From other BBC article -
“By the OECD's analysis of official figures, the U.K. suffered the worst 2020 economic hit in the G7 group of the most industrialised countries. In fact, the OECD went further with a chart comparing growth in the fourth quarter of 2020 with growth in the same quarter in 2019, showing the UK at the bottom of the much wider G20 grouping too”
“By the OECD's analysis of official figures, the U.K. suffered the worst 2020 economic hit in the G7 group of the most industrialised countries. In fact, the OECD went further with a chart comparing growth in the fourth quarter of 2020 with growth in the same quarter in 2019, showing the UK at the bottom of the much wider G20 grouping too”
As ever, the story would be vastly improved by a comparison chart for the main economies.
A stunning omission, for example, is the data for Europe and the Eurozone.....
A stunning omission, for example, is the data for Europe and the Eurozone.....
From other BBC article -
“By the OECD's analysis of official figures, the U.K. suffered the worst 2020 economic hit in the G7 group of the most industrialised countries. In fact, the OECD went further with a chart comparing growth in the fourth quarter of 2020 with growth in the same quarter in 2019, showing the UK at the bottom of the much wider G20 grouping too”
“By the OECD's analysis of official figures, the U.K. suffered the worst 2020 economic hit in the G7 group of the most industrialised countries. In fact, the OECD went further with a chart comparing growth in the fourth quarter of 2020 with growth in the same quarter in 2019, showing the UK at the bottom of the much wider G20 grouping too”
Indeed that data is there - for 2020.
This story is about the forecast for 2021, so where's the comparable data in this story for 2021..........?
This story is about the forecast for 2021, so where's the comparable data in this story for 2021..........?
Perhaps if we managed our money a little better?
£355m a week on track and trace. Why not spend the money on the NHS instead?
£355m a week on track and trace. Why not spend the money on the NHS instead?
Spend on T&T counts in the plus column for GDP growth purposes, as does all public spend no matter how wasteful or beneficial.
There’s a rebound effect of course.
Spain 2021 forecast +5.7% (UK 5.1%) but dropped 11% in 2020 so 5.9% down over 2 years.
In contrast, Korea's forecast is a modest 3.3% but only dropped by 1% in 2020, so up 2.3% up over 2 years. Aus up 1.9% over 2 years.
The UK 5.3% down and the Euro Area 3.2% down over 2 years.
China bucks the trend with growth in both years for 10.4% growth over 2 years.
Spain 2021 forecast +5.7% (UK 5.1%) but dropped 11% in 2020 so 5.9% down over 2 years.
In contrast, Korea's forecast is a modest 3.3% but only dropped by 1% in 2020, so up 2.3% up over 2 years. Aus up 1.9% over 2 years.
The UK 5.3% down and the Euro Area 3.2% down over 2 years.
China bucks the trend with growth in both years for 10.4% growth over 2 years.
Percentages for subsequent years need to be multiplied to give the compounded value.
For example the UK figures you have there. 11% in year 1 followed by 5.1% up in year two means the figure at the end of year 2 is 6.4% lower than the figure at the start of year 1. It's because the 5.1% up in year 2 is only applied to the 89% of the economy left at the end of year 1.
For example the UK figures you have there. 11% in year 1 followed by 5.1% up in year two means the figure at the end of year 2 is 6.4% lower than the figure at the start of year 1. It's because the 5.1% up in year 2 is only applied to the 89% of the economy left at the end of year 1.
“A leading international agency has upgraded its forecasts for global and British economic growth this year and next”
Also outstrips net EU growth forecast of EU27.
So much for Brexit Project Fear 2!.
Also outstrips net EU growth forecast of EU27.
So much for Brexit Project Fear 2!.
I produce stuff in the UK for the UK market, competing over the last two decades with mostly EU imports. Brexit has been brilliant for me, only positives so far. I just can;t produce enough to keep clients happy!
From other BBC article -
“By the OECD's analysis of official figures, the U.K. suffered the worst 2020 economic hit in the G7 group of the most industrialised countries. In fact, the OECD went further with a chart comparing growth in the fourth quarter of 2020 with growth in the same quarter in 2019, showing the UK at the bottom of the much wider G20 grouping too”
“By the OECD's analysis of official figures, the U.K. suffered the worst 2020 economic hit in the G7 group of the most industrialised countries. In fact, the OECD went further with a chart comparing growth in the fourth quarter of 2020 with growth in the same quarter in 2019, showing the UK at the bottom of the much wider G20 grouping too”
Percentages for subsequent years need to be multiplied to give the compounded value.
For example the UK figures you have there. 11% in year 1 followed by 5.1% up in year two means the figure at the end of year 2 is 6.4% lower than the figure at the start of year 1. It's because the 5.1% up in year 2 is only applied to the 89% of the economy left at the end of year 1.
For example the UK figures you have there. 11% in year 1 followed by 5.1% up in year two means the figure at the end of year 2 is 6.4% lower than the figure at the start of year 1. It's because the 5.1% up in year 2 is only applied to the 89% of the economy left at the end of year 1.
I work for an Engineering company in Sunnyvale we had a peak in shipments just before the Trump years then things slowed down. Now it's picking up again the guidance from our customers is we will be busy through 2023 .
Good for you :)
My small engineering consultancy is also extremely busy and we're recruiting again in a few days. The business climate is bouyant.
Looking further afield, the FTSE250 is at an all-time high, inflation is low, unemployment is around 5% - things could be a lot worse.
It's down to the UK Government's vaccine strategy and management success, probably why they're 13% up in the polls.
My small engineering consultancy is also extremely busy and we're recruiting again in a few days. The business climate is bouyant.
Looking further afield, the FTSE250 is at an all-time high, inflation is low, unemployment is around 5% - things could be a lot worse.
It's down to the UK Government's vaccine strategy and management success, probably why they're 13% up in the polls.
Meanwhile, we are at the bottom of the G7 recovery list.
How long before we stop referencing G7 because we are only in G10 ?????
Watch this space !!
How long before we stop referencing G7 because we are only in G10 ?????
Watch this space !!
As long as everyone is prepared to work hard and be productive, we should be able to beat the competition.
——
Simple Simon’s School of Economics says put your hands on your head and sing three choruses of Jerusalem.
——
Simple Simon’s School of Economics says put your hands on your head and sing three choruses of Jerusalem.
"Simple Simon’s School of Economics says put your hands on your head and sing three choruses of Jerusalem."
Agreed it is an incredibly basic concept, but I'm not sure why you're mocking, are you suggesting that it's not actually true on a fundamental level? If so, the joke's on you I'm afraid.
Are you a fan of 'Corbynomics' or something?
Agreed it is an incredibly basic concept, but I'm not sure why you're mocking, are you suggesting that it's not actually true on a fundamental level? If so, the joke's on you I'm afraid.
Are you a fan of 'Corbynomics' or something?
I'd mock any comment from retired "I'm alright" grandads to instruct their kids to work harder....
https://www.telegraph.co.uk/news/politics/9483268/Young-Tory-MPs-blame-lazy-baby-boomers-for-Britains-economic-decline.html
https://www.telegraph.co.uk/news/politics/9483268/Young-Tory-MPs-blame-lazy-baby-boomers-for-Britains-economic-decline.html
I assumed the 11% down was for the UK. Mea culpa.
Bear in mind that GDP is not only a factor of private spending but also of public spending financed by borrowing and taxes (which reduce private spend). Countries can "buy" growth. The OECD can only speculate what Governments might do so I'd take their forecasts as no more than that, speculation based on guesswork and assumptions.
Also,
As Most major global indexes , Dow, Nasdac, Dax, Cac, Euro Stoxx50 and 600 FTSE MIB (italy) are all coming off record highs, the FTSE 100 is still about 16% off.
All the above have suffered Covid effects.
When are the Boom Boom Brexit benefits going to show themselves ??
As Most major global indexes , Dow, Nasdac, Dax, Cac, Euro Stoxx50 and 600 FTSE MIB (italy) are all coming off record highs, the FTSE 100 is still about 16% off.
All the above have suffered Covid effects.
When are the Boom Boom Brexit benefits going to show themselves ??
Spend on T&T counts in the plus column for GDP growth purposes, as does all public spend no matter how wasteful or beneficial.
https://www.bankofengland.co.uk/knowledgebank/what-is-gdp - or you can make up your own definition.
Brighter economic outlook except the UK. Nothing is made here anymore except obscene service industry rip-off profits and kickbacks to politicians to look the other way,
Even flogging Renishaw now.
Indeed that data is there - for 2020.
This story is about the forecast for 2021, so where's the comparable data in this story for 2021..........?
This story is about the forecast for 2021, so where's the comparable data in this story for 2021..........?
https://www.bankofengland.co.uk/knowledgebank/what-is-gdp - or you can make up your own definition.
This is really good news (for a change)
However, Scotland are going to need it...... NS latest blunder which will hit the news very shortly. Huge new tax bill hit to Scottish tax payer: This one is seismic!
www.telegraph.co.uk/politics/2021/03/09/fears-taxpayers-left-exposed-terms-potentially-disastrous-snp/
However, Scotland are going to need it...... NS latest blunder which will hit the news very shortly. Huge new tax bill hit to Scottish tax payer: This one is seismic!
www.telegraph.co.uk/politics/2021/03/09/fears-taxpayers-left-exposed-terms-potentially-disastrous-snp/
I think you'll find the Gupta/Private Equity/steel mess extends far beyond Scotland.
Question is, Phil (or is it Momentum troll?) will HMG bail them out?
Can they afford to?
Can they afford not to, having based a large part of the Brexit argument on being able to bail out and subsidise BRITISH key industries free of EU intervention?
Question is, Phil (or is it Momentum troll?) will HMG bail them out?
Can they afford to?
Can they afford not to, having based a large part of the Brexit argument on being able to bail out and subsidise BRITISH key industries free of EU intervention?
https://www.bankofengland.co.uk/knowledgebank/what-is-gdp - may help understanding of what GDP actually is, which is not what some assume it is.
As long as everyone is prepared to work hard and be productive, we should be able to beat the competition.
——
Simple Simon’s School of Economics says put your hands on your head and sing three choruses of Jerusalem.
——
Simple Simon’s School of Economics says put your hands on your head and sing three choruses of Jerusalem.
"work hard and be productive"
... a recurrent phrase heard from retired, do-nothing grandads about their kids.
But reference Kwasi's report that it was "lazy" and complacent baby boomers that caused Britiain's economic decline with poor work ethics and missed opportunities
https://www.telegraph.co.uk/news/politics/9483268/Young-Tory-MPs-blame-lazy-baby-boomers-for-Britains-economic-decline.html
... a recurrent phrase heard from retired, do-nothing grandads about their kids.
But reference Kwasi's report that it was "lazy" and complacent baby boomers that caused Britiain's economic decline with poor work ethics and missed opportunities
https://www.telegraph.co.uk/news/politics/9483268/Young-Tory-MPs-blame-lazy-baby-boomers-for-Britains-economic-decline.html
"Simple Simon’s School of Economics says put your hands on your head and sing three choruses of Jerusalem."
Agreed it is an incredibly basic concept, but I'm not sure why you're mocking, are you suggesting that it's not actually true on a fundamental level? If so, the joke's on you I'm afraid.
Are you a fan of 'Corbynomics' or something?
Agreed it is an incredibly basic concept, but I'm not sure why you're mocking, are you suggesting that it's not actually true on a fundamental level? If so, the joke's on you I'm afraid.
Are you a fan of 'Corbynomics' or something?
I'd mock any comment from retired "I'm alright" grandads to instruct their kids to work harder....
https://www.telegraph.co.uk/news/politics/9483268/Young-Tory-MPs-blame-lazy-baby-boomers-for-Britains-economic-decline.html
https://www.telegraph.co.uk/news/politics/9483268/Young-Tory-MPs-blame-lazy-baby-boomers-for-Britains-economic-decline.html
What are you on about now? Not that it's remotely any of your business (nor does it excuse your ageist comments), but I'm Gen X, Chief.
Maybe if *you* worked harder you'd actually achieve something, rather posting endless bile and dribbling nonsense on here, with no-one caring one jot? Might help with that chip on the shoulder.
Maybe if *you* worked harder you'd actually achieve something, rather posting endless bile and dribbling nonsense on here, with no-one caring one jot? Might help with that chip on the shoulder.
It would be interesting to know how much the fondness of HMG for Management Consultants- Deloitte, etc - and outsourcers - Serco, etc - is boosting the UK economy
Are taxpayers in fact funding the current recovery?
Are taxpayers in fact funding the current recovery?
£6,600 a day for some. Equivalent to £1.75 million a year.
https://www.bankofengland.co.uk/knowledgebank/what-is-gdp - may help understanding of what GDP actually is, which is not what some assume it is.
GDP is calculated either by income or by expenditure. In the income approach, furlough monies would be counted directly. In the expenditure approach what people spend their furlough money on would be counted. Both ways, furlough money end up in GDP.
Among the developed economies, the largest shortfall on this measure is for Spain, followed by the UK, at more than 4%.
At least we beat Spain
At least we beat Spain
Shortfall in what?
The UK has high employment, because one hour a week counts as being employed.
Among the developed economies, the largest shortfall on this measure is for Spain, followed by the UK, at more than 4%.
At least we beat Spain
At least we beat Spain
It would be interesting to know how much the fondness of HMG for Management Consultants- Deloitte, etc - and outsourcers - Serco, etc - is boosting the UK economy
Are taxpayers in fact funding the current recovery?
Are taxpayers in fact funding the current recovery?
Shortfall in what?
I won't be working any harder. Quite happy as it is.
The £37 billion spent on the failed Track and Trace system could have boosted the NHS budget by 13% over two years or funded a 10% pay rise for the next decade or a one off bonus of £15,000 for every member of staff.
And the £12´4 billion spent on the failed NHS data base. Scrapped in 2014 (??) amid coments of ecessive consultancy fees and private companies "not delivering"
UK dot Gov does not have the best of records at delivery of large IT projects, on time on budget and fit for purpose !!
UK dot Gov does not have the best of records at delivery of large IT projects, on time on budget and fit for purpose !!