The double dip, that never was...
2 May 2013
I have written before than there are problems with the GDP statistics and have identified where they go wrong. Well the Office of National Statistics are waking up to it too. They have admitted that they have been too pessimistic and that the double dip may never have happened. The NIESR went even further to say there never was a double dip at all.
I have written before than there are problems with the GDP statistics and have identified where they go wrong. Well the Office of National Statistics are waking up to it too. They have admitted that they have been too pessimistic and that the double dip may never have happened. The NIESR went even further to say there never was a double dip at all.
This does bear out what many businesses outside construction and, to a lesser extent, retail have been experiencing. Many in the service sector are reporting that they have never been busier, indeed businesses that serve the needs of businesses are actually a good measure of what is happening more broadly in the economy, many of these are busier than ever. Other indicators that all is not as bad as the figures show, has been overall employment growth since 2010. While UK export orders are at the highest level for 18 months (FT).
But, my usual warning - it is all very fragile and there are many domestic and international challenges that face the economy. Now is no time for the government to go on a spending spree piling up a higher deficit and higher debt. If anything they must accelerate the deficit reduction plan, cut taxes and make some significant supply-side reforms. The government has been moving in the right direction but just not fast enough.
- ok barry so there wasn't a double dip,but why has government and credit agencys been talking about a possible triple dip.
- But there is no triple dip either Brian, no double, no triple. What you is quoting is old news superceded by events.
- dip recessions and credit ratings are very different things.
- barry,gideion admitted a double dip,only just but a dip indeed.and if it wasent for the service industry we would have done.
- Brian as I said, old news. Latest information, as quoted above, is that there was no double dip.
- then that's misinfomation barry,a double dip was clearly mentiond.
- Try reading what I said Brian, above and below. Then you might actually understand it as clearly you do not.
- I did,and theres still conflict in you say and whats actually government etc,including the bank of England.