No wonder, given stupid high interest rates that do nothing but further squeeze the population.
Now watch every news outlet claim this is nothing to do with the government, still shows the “plan” is working and we need to avoid going back to square one with labour…
At least “but Germany” excuse is gone now
Not surprising, we have been flatlining for two years now and only avoided being a recession by slimmest of margins already
This is the cost of battling inflation unfortunately.
So I’m taking it this is why the job market has been totally crap since end of last year?
Snap election incoming? With the Rwanda chaos and now this, I’d just be throwing the towel in if I were Rishi. They said hold the government to account, and they’ve failed on the economy and the small boats. (and the NHS of course)
Bill Clinton’s campaign strategist: It’s the economy, stupid!
Goddamit labour, your policies over the last 13 years screwed us!
The problem isn’t that we’ve had two quarters of -0.1% and -0.3% growth and that we’re “technically” in recession.
The problem is that we’ve had no growth at all for the past **six quarters** since the Covid crash and recovery stopped distorting the figures.
– Q3 2022 -0.3%
– Q4 2022 0.1%
– Q1 2023 0.1%
– Q2 2023 0.2%
– Q3 2023 -0.1%
– Q4 2023 -0.3%
This is a much, much bigger deal than two quarters in a row where growth is slightly negative. Two quarters of shallow contraction followed by a booming year of growth to make up for it would still technically be a recession but would feel very different to what we’re going through.
The worst part is that this is all happening at a time of record inward net migration. Immigration is very good for the economy – even economists who are sceptical about the overall benefits will recognise that it’s going to boost total nominal GDP just by the fact that there are more people doing more things to count. If we hadn’t seen record immigration numbers propping these numbers up, the headline figures would look incredibly dramatic!
That was Liz truss!
This is the new guy and a new tory party that’s trying to sort this out
Well then Rishi, now we’ve stuck to the plan and you’ve delivered on your top priority of growing the economy, let’s go back to square one.
Now watch Rishi gaslight the nation again by saying they are “getting the job done” and that Labour would make things worse etc etc.
Day after day of the same old shite.
This is because all the Millennials and Zoomers are buying avocado toast and coffees at Prêt!!
And now for all the follow up articles making excuses on how it’s ‘not too bad’ and it’s only a ‘small one’.
Someone has an agenda. BBC is fricking biased what the heck.
I have an Electrical and Electronics Engineering Degree, and even I’m struggling for jobs. I heard engineering is more appreciated in other countries. Engineering is suppose to contribute to technological progress and economic growth, but most of that seems to be happening in America and China now.
I told people this constantly, especially on Reddit and I was always given sarcastic ‘ur dumb danny’ replies.
Obviously, we have been in a recession. Just look around.
Friendly reminder that fuel rises and greedflation have been providing the “growth” for the last few years.
We’ve been in a recession for a while, just not officially, and they robbed us to stave it off as long as possible.
18 comments
No wonder, given stupid high interest rates that do nothing but further squeeze the population.
Now watch every news outlet claim this is nothing to do with the government, still shows the “plan” is working and we need to avoid going back to square one with labour…
At least “but Germany” excuse is gone now
Not surprising, we have been flatlining for two years now and only avoided being a recession by slimmest of margins already
This is the cost of battling inflation unfortunately.
So I’m taking it this is why the job market has been totally crap since end of last year?
Snap election incoming? With the Rwanda chaos and now this, I’d just be throwing the towel in if I were Rishi. They said hold the government to account, and they’ve failed on the economy and the small boats. (and the NHS of course)
The final nail in the coffin for Sunak’s election campaign. That prediction of [80 or so seats](https://www.reddit.com/r/unitedkingdom/comments/1aqsosf/bombshell_megapoll_predicts_tories_will_lose/) is looking more and more likely.
13 years of Tory economic mismanagement.
Why Tories are so low in the GE polls?
Bill Clinton’s campaign strategist: It’s the economy, stupid!
Goddamit labour, your policies over the last 13 years screwed us!
The problem isn’t that we’ve had two quarters of -0.1% and -0.3% growth and that we’re “technically” in recession.
The problem is that we’ve had no growth at all for the past **six quarters** since the Covid crash and recovery stopped distorting the figures.
– Q3 2022 -0.3%
– Q4 2022 0.1%
– Q1 2023 0.1%
– Q2 2023 0.2%
– Q3 2023 -0.1%
– Q4 2023 -0.3%
This is a much, much bigger deal than two quarters in a row where growth is slightly negative. Two quarters of shallow contraction followed by a booming year of growth to make up for it would still technically be a recession but would feel very different to what we’re going through.
The worst part is that this is all happening at a time of record inward net migration. Immigration is very good for the economy – even economists who are sceptical about the overall benefits will recognise that it’s going to boost total nominal GDP just by the fact that there are more people doing more things to count. If we hadn’t seen record immigration numbers propping these numbers up, the headline figures would look incredibly dramatic!
That was Liz truss!
This is the new guy and a new tory party that’s trying to sort this out
Well then Rishi, now we’ve stuck to the plan and you’ve delivered on your top priority of growing the economy, let’s go back to square one.
Now watch Rishi gaslight the nation again by saying they are “getting the job done” and that Labour would make things worse etc etc.
Day after day of the same old shite.
This is because all the Millennials and Zoomers are buying avocado toast and coffees at Prêt!!
[“GDP/capita declined 0.7%…”](https://twitter.com/TorstenBell/status/1758032937285562497?t=dqvZmjUCU17P71-lhxs5xQ&s=19). Thanks to the Tories for their wonderful management of the economy. They have allowed firms to substitute capital for endless cheap labour, and this is the result.
And now for all the follow up articles making excuses on how it’s ‘not too bad’ and it’s only a ‘small one’.
Someone has an agenda. BBC is fricking biased what the heck.
I have an Electrical and Electronics Engineering Degree, and even I’m struggling for jobs. I heard engineering is more appreciated in other countries. Engineering is suppose to contribute to technological progress and economic growth, but most of that seems to be happening in America and China now.
I told people this constantly, especially on Reddit and I was always given sarcastic ‘ur dumb danny’ replies.
Obviously, we have been in a recession. Just look around.
Friendly reminder that fuel rises and greedflation have been providing the “growth” for the last few years.
We’ve been in a recession for a while, just not officially, and they robbed us to stave it off as long as possible.