>However, in the three months to November, the economy shrank by 0.3%.
Said the IMF to the Bank of England as it held its hair back over a toilet bowl.
>The UK’s gross domestic product (GDP) – a key economic measure of services, construction and manufacturing output – rose by 0.1%
They really are clutching at straws.
0.1% is practically a rounding error. The economy could have just as likely contracted by 0.1%.
Really nothing to shout about.
Did you hear that guys, we beat expectations!
What were the expectations?
Complete and immediate annihilation.
The sales in my company increased 100% last year…..we sold one product in 2021 and two products in 2022.
This will slide off the subreddit fairly quickly, I imagine. Unlike the weeks of self blog posts, journalist opinion pieces and think tank predictions that guessed absolute doom
I’m not surprised. We’ve been told constantly we are entering the worst recession ever so of course the opposite happens.
Anything UK economic experts predict you can be confident the opposite will happen.
I knew buying that Fridge in December would help prevent a recession…
[deleted]
So here we are celebrating but the strikes aren’t ending
Above 10% inflation crippling engery prices cost of living criss so yh….let’s enjoy this ray of sunshine
If the prediction had been for a 0.1% growth but instead we got a 0.3% drop the news would be baying for blood. As it is there seems to be a collective ‘oh…’ and then an awkward silence.
Nobody should look at this and think its all going to be rosy from now on and we have nothing to worry about. However it is encouraging and shows there could be light at the end of the tunnel.
It was me and my lemonade stand. No need for thanks.
So it shrunk by 0.3% Upto November then grew by 0.1 in November. So has it grown by 0.4 or are we 0.2 down still ?
We are getting gaslight on how the economy is here 🤡
Wait till winter’s energy bills com through
Staving off recession by 0.1%
Due to the World Cup… uh huh
Remember when remainers claimed that Brexit would mean the worst recession in our lives, and other stuff like planes not being able to fly anymore…..
So despite brexit and covid combined, that huge recession just didn’t happen…..and we have higher employment than the eu average, lower inflation than the eu average…..
All well and good these figures whether they’re showing contraction or not.
It’s how you, me, the person down the road and the small business owner are doing which is a more immediate barometer about everything.
We’re still in a recession and the economy is fucked if you couldn’t tell.
Nobody can rationalise this with a straight face. Stfu and go back to 1913
I mean if the expected growth was 0.5% and the actual growth is 0.65%, then it still beats expectations. Statistics is such an amazing manipulation tool.
wow, yeah, high five.
What I would like to know is what is the margin of error on these figures, there must be one. I mean it could be growth is 0.1% +/- 0.5%
Didn’t we hear something like this last year before the was an update that said that it actually didn’t?
For its more depressing that this is growth, if it was recession and I was getting fucked is less depressing then saying this works.
That’s about the percentage the population would have grown in the same period, so not even an increase at all in GDP per capita.
I work in a Screwfix and we haven’t stopped. Just crazy the amount of money people have been spending and then you check the news and you would think that everyone is living in poverty. A common joke amongst the staff now is ‘good job there’s a cost of living crisis going on or we’d be even busier!’
Yay!!!!!
The economy that is 6-9% smaller than it would have been without Brexit is in fact only 5.9-8.9% smaller than it would have been.
Tories rejoice.
Erm because they’re using the cost of living payments to boost it but want to pretend it’s for the families and not to save our doomed economy from total failure.
[deleted]
Yes, that was just a lead article on BBC news. Apparently because lots of people went to the pub to watch World Cup. Well whoop di fucking doo. Not because we made anything or did anything useful.
The whole idea the ‘line up = good, line down= bad’ is totally ridiculous. Economic growth is not a suitable goal in itself. It can only lead to environmental destruction until it is 100% decoupled from resource consumption: and that is NOT happening.
If you have +0.1% in GDP. At the same time as 11% inflation. Isn’t that a -10.9% drop in GDP in real terms ?
Yeah but everyone is still going to get a below inflation pay rise.
They fudged some number to make it * not a recession*
Just here for the outrageous self-flagellation we do in a forum about ourselves.
I GUARANTEE the top comment is a ‘yes but’ type clanger with a nuanced loathing of anything that might possibly be considered positive. With the next 8 replies all agreeing that it’s definitely worse anyway.
I love this sub.
Don’t tell the government! They’ll put taxes up again.
zero point fucking one what a shit article and ofc it would be from BBC
BBC when the economy grows by 0.0000000000000000000001%
ECONOMY ON THE RISE! Could this be the end of the cost of living crisis?!
What is this measured in?
Dollars? Pounds? Euro?
The pound is basically as unstable as an emerging currency, but if it is in dollars the pound has been pathetic.
Also GDP doesn’t take into account inflation, if it is lower than inflation haven’t you just produced a lot less as everything cost more.
I can’t see how you can measure a GDP in pounds and it not be negative? Either you have had massive amounts of growth to off set the 15% reduction in the pound and are doing great, and the 10% inflation, which is also in pounds, or you haven’t and it works out at -5%.
How can a massive reduction in the value of the pound and massive inflation lead to an as stagnant growth rate as was seen over the last decade. It just makes the figure nonsense. Output in pounds is measured in pounds, not hours worked.
Oh no this is terrible news for this sub. How gutted are you lot that we aren’t in a recession ???
The whole of last year all this sun posted was ‘experts say we are already in a recession’ and yet now in 2023 and we are still not in a recession. Hahahahaha
Chin up you lot maybe this year we will get the recession you’ve been hoping for…
This reminds me of Americans being super happy that the Democrats didn’t lose as many seats as expected in the last election. So, we lost, but we were expecting worse.
Penny to a shrinking pound this is a calculations glitch.
I honestly don’t give a shit. Why should I care if the economy grows if I see absolutely no benefit?
Some rich arseholes got richer while we make less than we did 15 years ago and we pay more for products than we ever have.
Ahh thats great… but we’re all still poor as fuck
Shit thing is less shit than expected but still shit
Yeeeaaaah, what these headlines count as growth and what the public count as growth are two VERY different things.
Believe it can continue growing. Stabile PM and Cabinet.
Fellow Country men and women, need to unite to make it happen
0.1 % and it was all over bbc news (top headlines) all day long …
This feels like celebrating leaping over an ankle high hurdle, but I guess we’ll take any win we can get at this point
No way it grew in December. I was in my town centre on Christmas eve, and it was dead. Any year before that it was absolutely, catastrophically heaving with bodies.
50 comments
>However, in the three months to November, the economy shrank by 0.3%.
Said the IMF to the Bank of England as it held its hair back over a toilet bowl.
>The UK’s gross domestic product (GDP) – a key economic measure of services, construction and manufacturing output – rose by 0.1%
They really are clutching at straws.
0.1% is practically a rounding error. The economy could have just as likely contracted by 0.1%.
Really nothing to shout about.
Did you hear that guys, we beat expectations!
What were the expectations?
Complete and immediate annihilation.
The sales in my company increased 100% last year…..we sold one product in 2021 and two products in 2022.
This will slide off the subreddit fairly quickly, I imagine. Unlike the weeks of self blog posts, journalist opinion pieces and think tank predictions that guessed absolute doom
I’m not surprised. We’ve been told constantly we are entering the worst recession ever so of course the opposite happens.
Anything UK economic experts predict you can be confident the opposite will happen.
I knew buying that Fridge in December would help prevent a recession…
[deleted]
So here we are celebrating but the strikes aren’t ending
Above 10% inflation crippling engery prices cost of living criss so yh….let’s enjoy this ray of sunshine
If the prediction had been for a 0.1% growth but instead we got a 0.3% drop the news would be baying for blood. As it is there seems to be a collective ‘oh…’ and then an awkward silence.
Nobody should look at this and think its all going to be rosy from now on and we have nothing to worry about. However it is encouraging and shows there could be light at the end of the tunnel.
It was me and my lemonade stand. No need for thanks.
So it shrunk by 0.3% Upto November then grew by 0.1 in November. So has it grown by 0.4 or are we 0.2 down still ?
We are getting gaslight on how the economy is here 🤡
Wait till winter’s energy bills com through
Staving off recession by 0.1%
Due to the World Cup… uh huh
Remember when remainers claimed that Brexit would mean the worst recession in our lives, and other stuff like planes not being able to fly anymore…..
So despite brexit and covid combined, that huge recession just didn’t happen…..and we have higher employment than the eu average, lower inflation than the eu average…..
All well and good these figures whether they’re showing contraction or not.
It’s how you, me, the person down the road and the small business owner are doing which is a more immediate barometer about everything.
We’re still in a recession and the economy is fucked if you couldn’t tell.
Nobody can rationalise this with a straight face. Stfu and go back to 1913
I mean if the expected growth was 0.5% and the actual growth is 0.65%, then it still beats expectations. Statistics is such an amazing manipulation tool.
wow, yeah, high five.
What I would like to know is what is the margin of error on these figures, there must be one. I mean it could be growth is 0.1% +/- 0.5%
Didn’t we hear something like this last year before the was an update that said that it actually didn’t?
For its more depressing that this is growth, if it was recession and I was getting fucked is less depressing then saying this works.
That’s about the percentage the population would have grown in the same period, so not even an increase at all in GDP per capita.
I work in a Screwfix and we haven’t stopped. Just crazy the amount of money people have been spending and then you check the news and you would think that everyone is living in poverty. A common joke amongst the staff now is ‘good job there’s a cost of living crisis going on or we’d be even busier!’
Yay!!!!!
The economy that is 6-9% smaller than it would have been without Brexit is in fact only 5.9-8.9% smaller than it would have been.
Tories rejoice.
Erm because they’re using the cost of living payments to boost it but want to pretend it’s for the families and not to save our doomed economy from total failure.
[deleted]
Yes, that was just a lead article on BBC news. Apparently because lots of people went to the pub to watch World Cup. Well whoop di fucking doo. Not because we made anything or did anything useful.
The whole idea the ‘line up = good, line down= bad’ is totally ridiculous. Economic growth is not a suitable goal in itself. It can only lead to environmental destruction until it is 100% decoupled from resource consumption: and that is NOT happening.
If you have +0.1% in GDP. At the same time as 11% inflation. Isn’t that a -10.9% drop in GDP in real terms ?
Yeah but everyone is still going to get a below inflation pay rise.
They fudged some number to make it * not a recession*
Just here for the outrageous self-flagellation we do in a forum about ourselves.
I GUARANTEE the top comment is a ‘yes but’ type clanger with a nuanced loathing of anything that might possibly be considered positive. With the next 8 replies all agreeing that it’s definitely worse anyway.
I love this sub.
Don’t tell the government! They’ll put taxes up again.
zero point fucking one what a shit article and ofc it would be from BBC
BBC when the economy grows by 0.0000000000000000000001%
ECONOMY ON THE RISE! Could this be the end of the cost of living crisis?!
What is this measured in?
Dollars? Pounds? Euro?
The pound is basically as unstable as an emerging currency, but if it is in dollars the pound has been pathetic.
Also GDP doesn’t take into account inflation, if it is lower than inflation haven’t you just produced a lot less as everything cost more.
I can’t see how you can measure a GDP in pounds and it not be negative? Either you have had massive amounts of growth to off set the 15% reduction in the pound and are doing great, and the 10% inflation, which is also in pounds, or you haven’t and it works out at -5%.
How can a massive reduction in the value of the pound and massive inflation lead to an as stagnant growth rate as was seen over the last decade. It just makes the figure nonsense. Output in pounds is measured in pounds, not hours worked.
Oh no this is terrible news for this sub. How gutted are you lot that we aren’t in a recession ???
The whole of last year all this sun posted was ‘experts say we are already in a recession’ and yet now in 2023 and we are still not in a recession. Hahahahaha
Chin up you lot maybe this year we will get the recession you’ve been hoping for…
This reminds me of Americans being super happy that the Democrats didn’t lose as many seats as expected in the last election. So, we lost, but we were expecting worse.
Penny to a shrinking pound this is a calculations glitch.
I honestly don’t give a shit. Why should I care if the economy grows if I see absolutely no benefit?
Some rich arseholes got richer while we make less than we did 15 years ago and we pay more for products than we ever have.
Ahh thats great… but we’re all still poor as fuck
Shit thing is less shit than expected but still shit
Yeeeaaaah, what these headlines count as growth and what the public count as growth are two VERY different things.
Believe it can continue growing. Stabile PM and Cabinet.
Fellow Country men and women, need to unite to make it happen
0.1 % and it was all over bbc news (top headlines) all day long …
This feels like celebrating leaping over an ankle high hurdle, but I guess we’ll take any win we can get at this point
No way it grew in December. I was in my town centre on Christmas eve, and it was dead. Any year before that it was absolutely, catastrophically heaving with bodies.