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[News] UK economy shrinks in April



T

TomandJerry

Well-known member
Oct 1, 2013
11,489
The UK economy unexpectedly shrank in April as the cost of living crisis bites, according to official figures.

The Office for National Statistics said gross domestic product (GDP) fell by 0.3% on the month, coming after a 0.1% decline in March as consumers reined in their spending amid soaring household energy bills.

City economists had forecast modest growth of 0.1%"

Hold onto your hats...



Sent from my Pixel 6 using Tapatalk
 




WATFORD zero

WATFORD zero

Well-known member
NSC Patron
Jul 10, 2003
25,864
As I've said on other threads, I believe we have already had our first quarter towards recession, but given who is responsible for managing the British economy, it can hardly come as any surprise.

Just add it to the ever growing list :shrug:

*edit*

For [MENTION=17322]Lenny Rider[/MENTION], I really wouldn't like to guess, but recession, soaring inflation, shooting yourself in both feet on International trade, hamstringing the NHS, care, hospitality, logistics, travel and various other industries combined with complete fiscal incompetence probably isn't the best of combinations.
 
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L

Lenny Rider

Well-known member
Sep 15, 2010
5,434
TomandJerry said:
The UK economy unexpectedly shrank in April as the cost of living crisis bites, according to official figures.

The Office for National Statistics said gross domestic product (GDP) fell by 0.3% on the month, coming after a 0.1% decline in March as consumers reined in their spending amid soaring household energy bills.

City economists had forecast modest growth of 0.1%"

Hold onto your hats...



Sent from my Pixel 6 using Tapatalk
Click to expand...

T and J where do you see us all in 12 months time?

Sat in a pub Saturday night with the ultimate prophet of doom, who was predicting hyperinflation and as a result anarchy. ��
 


G

GingerBeerMan

3-0
Dec 29, 2011
8,027
I've recently started my first foray into the stock market. Buy the dip they say, but it looks like I could have picked a better time. Currently 30% of my allocated cash is invested, I am slowly going to enter positions over the next twelve months as I think a bearish market is probably likely. Any advice appreciated though.
 
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D

Deleted member 2719

Guest
Oh the joy of another downbeat thread started by Tom and Jerry can't he even stick to one thread as clearly he prefers to be a gloomster.
 




WATFORD zero

WATFORD zero

Well-known member
NSC Patron
Jul 10, 2003
25,864
Mouldy Boots said:
Oh the joy of another downbeat thread started by Tom and Jerry can't he even stick to one thread as clearly he prefers to be a gloomster.
Click to expand...

And what do you think about the economy shrinking, any solutions and the future Mouldy, the actual subject of the thread :wink:
 


Westdene Seagull

Westdene Seagull

aka Cap'n Carl Firecrotch
NSC Patron
Oct 27, 2003
21,025
The arse end of Hangleton
Mouldy Boots said:
Oh the joy of another downbeat thread started by Tom and Jerry can't he even stick to one thread as clearly he prefers to be a gloomster.
Click to expand...

Feel free to post some positive facts about the UK economy .... if you can find some.
 






Stat Brother

Stat Brother

Well-known member
NSC Patron
Jul 11, 2003
73,735
West west west Sussex
This will be completely different to yesterday's offering...






...oh.
 


Swansman

Swansman

Pro-peace
May 13, 2019
22,320
Sweden
GingerBeerMan said:
I've recently started my first foray into the stock market. But the dip they say, but it looks like I could have picked a better time. Currently 30% of my allocated cash is invested, I am slowly going to enter positions over the next twelve months as I think a bearish market is probably likely. Any advice appreciated though.
Click to expand...

Gold.
 








L

Lenny Rider

Well-known member
Sep 15, 2010
5,434
WATFORD zero said:
As I've said on other threads, I believe we have already had our first quarter towards recession, but given who is responsible for managing the British economy, it can hardly come as any surprise.

Just add it to the ever growing list :shrug:

*edit*

For [MENTION=17322]Lenny Rider[/MENTION], I really wouldn't like to guess, but recession, soaring inflation, shooting yourself in both feet on International trade, hamstringing the NHS, care, hospitality, logistics, travel and various other industries combined with complete fiscal incompetence probably isn't the best of combinations.
Click to expand...

Thanks old boy.

Shudder to think what the ferry's going to cost when we are in the Europa League in August 2023?
 






B

BLOCK F

Well-known member
Feb 26, 2009
6,357
TomandJerry said:
The UK economy unexpectedly shrank in April as the cost of living crisis bites, according to official figures.

The Office for National Statistics said gross domestic product (GDP) fell by 0.3% on the month, coming after a 0.1% decline in March as consumers reined in their spending amid soaring household energy bills.

City economists had forecast modest growth of 0.1%"

Hold onto your hats...



Sent from my Pixel 6 using Tapatalk
Click to expand...

Small comfort maybe, but apparently the ONS say that the most significant factor was the winding down of the Track and Trace operation.
 


bhafc99

bhafc99

Well-known member
Oct 14, 2003
7,092
Dubai
It's vital that the government now throws huge amounts of money into helping property prices to rise. All other issues can take a back seat.

That's all our economy is about, after all.

We need at least another 20% on prices this year, and for them to become at least 15x the average wage as soon as possible.
 


beorhthelm

beorhthelm

A. Virgo, Football Genius
Jul 21, 2003
35,312
GingerBeerMan said:
I've recently started my first foray into the stock market. But the dip they say, but it looks like I could have picked a better time. Currently 30% of my allocated cash is invested, I am slowly going to enter positions over the next twelve months as I think a bearish market is probably likely. Any advice appreciated though.
Click to expand...

overweight in beans and guns.
 


Audax

Audax

Boing boing boing...
Aug 3, 2015
2,941
Uckfield
brightn'ove said:
the word 'unexpectedly' is doing a lot of heavy lifting here
Click to expand...

Indeed it is. Especially as April showing shrinkage is going with the trend. From the last 5 months, we now have 3 where the economy shrank, 1 where it stood still, and 1 where it grew (being January). The January figure is an outlier, mostly driven by sectors that were propped up by post-covid activity and are now being suppressed by the cost of living crisis.

I posted somewhere last month about the worrying trend I saw in the Dec. Jan, Feb, Mar figures with only Jan having any genuine growth. I said at the time it would be interesting to see what the April figure showed. Technically, we won't be in recession until we've had 2 consecutive quarters of decline (with quarters being rather arbitrary periods). Q1 showed growth, but only a small amount due to that Jan outlier. The real position right now is that we have now had 1 quarter of decline, but I expect the press won't report that as the next quarterly figures don't come out until after June's results are known (when we'll get a report for Apr, May, June). By that time we could be 1 month away from a recession, but again I expect the press to miss that and report on the basis of the quarterly results (which, admittedly, could still be rather bad for Boris and the Tory's).

I've been reading back through a few of the monthly reports (latest one is here: https://www.ons.gov.uk/economy/grossdomesticproductgdp/bulletins/gdpmonthlyestimateuk/april2022) and it looks like we've had the wool pulled over our eyes for a while on the economy. A rather large chunk of economic growth last year was driven by "Human Health and social work activities" ... which was either Test & Trace + vaccines, or recovery in face-to-face visits to GPs post-covid, and this disguised that the underlying economy wasn't as healthy as the government has been making out.
 
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mikeyjh

mikeyjh

Well-known member
Dec 17, 2008
4,489
Llanymawddwy
bhafc99 said:
It's vital that the government now throws huge amounts of money into helping property prices to rise. All other issues can take a back seat.

That's all our economy is about, after all.

We need at least another 20% on prices this year, and for them to become at least 15x the average wage as soon as possible.
Click to expand...

It's in their effing DNA isn't it. Cost of living crisis, process going up for everything, what shall we do? Yeah, chuck some fuel on the fire.
 




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