Recession

[Sly]

https://www.bbc.co.uk/news/live/business-68297420

UK entered recession at end of 2023

The UK fell into recession at the end of 2023 after the economy shrank by 0.3% in the final three months of the year, official figures show.

We'll bring you a bit more on why this happened, according to the Office for National Statistics (ONS), shortly.

 

The UK's most recent Gross Domestic Product (GDP) figures show the UK entered recession in 2023

 

GDP shrank by 0.3% in the last three months of 2023 - October to December

That follows a fall of 0.1% in the previous quarter, July to September

 

One of Rishi Sunak's five pledges for 2023 was to "grow the economy"

 

The last time the UK's economy was in recession was 2020, during the Covid pandemic

 

GDP is an important tool for judging how well an economy's doing - it's measured by looking at a country's output, expenditure and income

 

 

 

[Zear0]

14 minutes ago, Sly said:

https://www.bbc.co.uk/news/live/business-68297420

UK entered recession at end of 2023

The UK fell into recession at the end of 2023 after the economy shrank by 0.3% in the final three months of the year, official figures show.

We'll bring you a bit more on why this happened, according to the Office for National Statistics (ONS), shortly.

 

The UK's most recent Gross Domestic Product (GDP) figures show the UK entered recession in 2023

 

GDP shrank by 0.3% in the last three months of 2023 - October to December

That follows a fall of 0.1% in the previous quarter, July to September

 

One of Rishi Sunak's five pledges for 2023 was to "grow the economy"

 

The last time the UK's economy was in recession was 2020, during the Covid pandemic

 

GDP is an important tool for judging how well an economy's doing - it's measured by looking at a country's output, expenditure and income

 

 

 

Just got to "stick to the plan"... 

[Sly]

6 minutes ago, Zear0 said:

Just got to "stick to the plan"... 

[Itsthejoeker]

I’m struggling to remembers what happened between Q1 2021 and Q1 2022. 
 

Edit: Ah gradual reopening of shops post lockdown. Jesus that feels like forever ago

Edited 15 February by Itsthejoeker

[Stadt]

Given the massive population growth through immigration in that time the per capita numbers aren't going to be good.

[Greg2607]

Can we go back to square one yet??

[Trav Le Bleu]

10 minutes ago, Greg2607 said:

Can we go back to square one yet??

Yes, but do not collect £200

[Mike Oxlong]

[bovril]

This is the second worst bit of news today after the new overground line names

[Hitesh]

4 minutes ago, bovril said:

This is the second worst bit of news today after the new overground line names

Just seen that...what a load of shite 

[bovril]

Just now, Hitesh said:

Just seen that...what a load of shite 

Quite surprised there's not an Our NHS line

[Zear0]

They are dreadful, but I find it's a price worth paying purely to hear the GBeebies reaction.

[bovril]

1 minute ago, Zear0 said:

They are dreadful, but I find it's a price worth paying purely to hear the GBeebies reaction.

I feel like "I accept this bad decision because it annoys people I don't like" is at least partially to blame for a lot of our current woes

[Bryn]

1 hour ago, Stadt said:

Given the massive population growth through immigration in that time the per capita numbers aren't going to be good.

What are you on about?

 

Studies have repeatedly shown that immigrants to the UK contribute positively to GDP. That distribution is of course uneven and there are those who receive more than they can pay in, but the net contribution of migrants to GDP is positive and has been for decades.

 

Further, the population is growing by about half a million a year. Significant, of course, but absolutely not the cause of recession.

 

No prizes for guessing who takes the largest proportion of their money out of the economy during recessions.

 

 Edited to give the benefit of the doubt that I might have misunderstood your post.

Edited 15 February by Bryn

[bovril]

1 minute ago, Bryn said:

What are you on about?

 

Studies have repeatedly shown that immigrants to the UK contribute positively to GDP. That distribution is of course uneven and there are those who receive more than they can pay in, but the net contribution of migrants to GDP is positive and has been for decades.

 

Further, the population is growing by about half a million a year. Significant, of course, but absolutely not the cause of recession.

 

No prizes for guessing who takes the largest proportion of their money out of the economy during recessions.

 

 Edited to give the benefit of the doubt that I might have misunderstood your post.

If GDP grows at about the same rate or slightly less than population, then per capita growth is negligible or non-existent. 

 

I think we have pretty good body of evidence over the last decade that that immigration is not the best way to grow an economy. 

[Bryn]

2 minutes ago, bovril said:

If GDP grows at about the same rate or slightly less than population, then per capita growth is negligible or non-existent. 

 

I think we have pretty good body of evidence over the last decade that that immigration is not the best way to grow an economy. 

Do we? Didn’t we sack off one of our major source of immigration after 2016? Does that not scupper that data set ? We used to have legions of highly skilled Spanish and Portuguese nurses who’ve now all gone.

[bovril]

Just now, Bryn said:

Do we? Didn’t we sack off one of our major source of immigration after 2016? Does that not scupper that data set ? We used to have legions of highly skilled Spanish and Portuguese nurses who’ve now all gone.

UK economy started stagnating before 2016 and has done so at the same time as increasing immigration.

 

I am generally pro immigration, mostly because I also want to be able to live abroad, and don't blame it for UK's underperformance economically. But it certainly doesn't appear to boost the economy as much as some claim.

[Bryn]

1 minute ago, bovril said:

UK economy started stagnating before 2016 and has done so at the same time as increasing immigration.

 

I am generally pro immigration, mostly because I also want to be able to live abroad, and don't blame it for UK's underperformance economically. But it certainly doesn't appear to boost the economy as much as some claim.

I’m glad we agree, it has an uneven but overall minor positive impact.

 

So back to my question - what is Stadt’s point?

[Zear0]

2 minutes ago, Bryn said:

I’m glad we agree, it has an uneven but overall minor positive impact.

 

So back to my question - what is Stadt’s point?

Sure he can answer for himself, but I just read it as an observation that flatlining economy, and increase in population, means the GDP per capita are more representative of people's quality of living which is probably more important that the direct GDP figure.

 

 

[Stadt]

9 minutes ago, Bryn said:

I’m glad we agree, it has an uneven but overall minor positive impact.

 

So back to my question - what is Stadt’s point?

The per capita point is obvious enough, if the economy has stagnated whilst the population has grown by 0.33% year on year we're worse off per capita.

 

The population growth is fulled almost entirely through immigration.

 

 

 

[Hitesh]

53 minutes ago, bovril said:

Quite surprised there's not an Our NHS line

Probably to avoid the press headline when the line goes down, delays and just general failures....

[Daggers]

1 hour ago, Greg2607 said:

Can we go back to square one yet??

Is it too late for chaos with Ed Miliband?

[RoboFox]

I actually miss the heady days when the minds of the electorate could be swayed by a picture of a man eating a bacon sandwich on the front page of a newspaper. 

 

Today the turkeys - even after they're acutely aware the country has been fvcked into oblivion by the current regime - will STILL go out and vote for Christmas. 

 

It was a way less minacious level of stupidity back then. 

[Zear0]

6 minutes ago, RoboFox said:

I actually miss the heady days when the minds of the electorate could be swayed by a picture of a man eating a bacon sandwich on the front page of a newspaper. 

 

Today the turkeys - even after they're acutely aware the country has been fvcked into oblivion by the current regime - will STILL go out and vote for Christmas. 

 

It was a way less minacious level of stupidity back then. 

I saw Miliband crammed into scum class on a train many years ago during the days when if you ever travelled first class (thanks expenses scandal) you were viewed as the devil.  Laughable to think that Rish! can use RAF jets to get to the opening of a new Co-op.

[Otis]

1 hour ago, Hitesh said:

Probably to avoid the press headline when the line goes down, delays and just general failures....

Probably to avoid the confusion of which is actually on strike.