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How is the U.K out of recession by growing 0.1%? watch

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    In other words, we're not out of recession, we are just 0.1& less in it than we were the other week.
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    (Original post by Conor C)
    In other words, we're not out of recession, we are just 0.1& less in it than we were the other week.
    I'm sorry, what?
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    I'm not sure if this is worth a real answer

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    My geuss is that a recession is defined as a period of negative growth. Since you stated we have positive growth, we're not in recession. Simples
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    The economy is growing, therefore it is not receding, viz. it is not in recession.

    That all that hard?
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    (Original post by Conor C)
    In other words, we're not out of recession, we are just 0.1& less in it than we were the other week.
    Nope...
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    (Original post by Poyekhali)
    The economy is growing, therefore it is not receding, viz. it is not in recession.

    That all that hard?
    Yeah, but the economy is basically in the same condition, just without the label 'recession.'
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    To be out of a recession you need two consecutive quarters of economic growth. Last quaters gain of 0.1% means we are officially out of recession as it was, yes you guessed it, the second quarter in a row that the economy grew.

    However, I think christmas has something to do with that so we may slip back into it for a quarter or two.
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    (Original post by ChrisBan)
    I'm not sure if this is worth a real answer
    The OP is pointing out we are still not out of the trough, ie GDP was higher two quarters ago.

    It just so happens they are wrong in what they actually said...
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    (Original post by Conor C)
    Yeah, but the economy is basically in the same condition, just without the label 'recession.'
    Yes...
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    No a recession is negative GDP growth...
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    To quote Dara O'Brien from MTW, "We are no longer getting poorer, we are now just poor." SO like you said, we are 0.1% less poorer than we were before Christmas.

    I wuv bankers (sarcasm much)...
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    Britain's economy is still in bad shape, but if economic growth is 0.1%, then technically, the economy is not in a recession (as GDP is increasing).
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    (Original post by Monforzh)
    To quote Dara O'Brien from MTW, "We are no longer getting poorer, we are now just poor." SO like you said, we are 0.1% less poorer than we were before Christmas.

    I wuv bankers (sarcasm much)...
    Yes, I have noticed I have 5p more in my wallet than I usually had last year :p:
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    Our economy has enjoyed a period of sustained growth for 3 quarters. Hence not being in a recession. Admitedly we scrimped out of it but green shoots and all
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    (Original post by Phobia27)
    Yes, I have noticed I have 5p more in my wallet than I usually had last year :p:
    And that 5p my friend is the only thing preveting Canary Wharf and her three ugly sisters from crumbling.
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    (Original post by Nick_000)
    Our economy has enjoyed a period of sustained growth for 3 quarters. Hence not being in a recession. Admitedly we scrimped out of it but green shoots and all
    I like Cheryl's "personality", bobbies and assies not so much :P
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    because a recession is defined as.. "two consecutive quarters of negative economic growth", so any positive number or even no growth will not be regarded as a recession

    i heard on the news though that this isnt completely accurate because the figures used to calculate this were derived from about half of the stats that the office nat statistics holds, so it could actually be a lot higher than 0.1% (thats just provisional )..or lower...
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    Yeah its not a lot of growth but its still growth!
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    (Original post by Conor C)
    Yeah, but the economy is basically in the same condition, just without the label 'recession.'
    Yes, you're absolutely right. But we are not in a recession, and generally things tend to continue growing.

    But who knows, we probs only got out 'cos of Christmas.
 
 
 
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