I think the country's had enough of experts. So I'm going to go full Brexiter and make it all up.
Good news everyone, the economy is booming and the UK is the world's sole producer of every car ever. Plus we just landed on the Moon.
Short-term recession begins Watch
- 22-07-2016 13:55
Offline19Very Important Poster
- Very Important Poster
- 22-07-2016 13:56
The article makes disappointing reading, but maybe there will be a silver lining.
Still so much unknown, but they do have to make the decision free movement of people or not.
- 22-07-2016 14:34
There won't be a recession, just a super slowdown in economic growth.
Let's say around 0.1 / 0.2 / 0.3 % growth in GDP
Which is still a joke considering how long ago the financial crash happened and how many years the central banks have been holding our hands. The FED has been pissing about with raising interest rates and if the FED don't go, the rest of the world doesn't either. I don't see why the UK need to follow what america does. The economy WAS strong enough for a rate hike, heck I think we should have had the bank of england base rate around 2% now, savers have been burnt for nearly a decade now. What a joke!
Unemployment in the US is at all times low, it can't get any lower, if you let stupid market turmoil stop you raising rates, you are an idiot. You don't let bipolar markets dictate your rate hikes, you look at the GDP figures, the unemployment, the inflation etc.
This global stagnant inflation is stopping people spending, maybe we need to start going into negative interest rates and start printing money so people go spending! (Not saying we do that, just an idea)
- 22-07-2016 20:51
OP is obviously getting his/her retaliation in early.
But his/her opinion is as worthless as any other lay person.
- 23-07-2016 20:47
- 24-07-2016 00:38
I should add that these were flash PMI numbers conducted over about 10 days and with a smaller than normal sample.
Personally i'd hold off worrying too much until the end of October when Q3 data is released. It's a fall in investment we should worry about in that data, not a fall in consumption which could be as simple as scaremongering.