April 29th, 2014

Q1 GDP +0.8%: Figures in Full

  • GDP increased by 0.8% in Q1 2014 compared with growth of 0.7% in Q4 2013.
  • Output increased in three of the four main industrial groupings within the economy in Q1 2014 compared with Q4 2013. In order of their contribution, output increased by 0.9% in services, 0.8% in production and 0.3% in construction. However, output decreased by 0.7% in agriculture.
  • In Q1 2014 GDP was estimated to be 0.6% below the peak in Q1 2008. From peak to trough in 2009, the economy shrank by 7.2%.
  • GDP was 3.1% higher in Q1 2014 compared with the same quarter a year ago.

The fifth consecutive period of growth. But still smaller than the pre-crash figure by 0.6%, nearly six years on…


121 Comments

  1. 1
    Max says:

    smaller than my shmekel

    Like

    • 22
      Bust to Boom says:

      Money is too cheap, much too cheap. Rates have to rise, rates should be increased now, but will Osborne put prudence before an election.

      Like

      • 25
        Prudence says:

        will he put boys before me?

        Like

        • 49
          non taxable pikey says:

          He’s probably more into muffin the mule.

          Like

          • Quiet Bat Person says:

            GDP is a crap way of measuring a nation’s performance (though it is hard to find a better measure).

            For example, inflation increases GDP, as does wasteful government spending.

            Like

          • Economic Time Bomb says:

            GDP now means “Generally Denotes Poorer”.

            If all your economy relies on importing oligarchs to inflate your housing markets, on unprecedented population growth, on allowing in hundreds of thousands of poor and low skilled workers who soon become welfare dependent once they have families and on massive capital schemes like HS2 and Heathrow expansion, the average family is NOT going to enjoy increased disposable income. In fact they will experience decreased disposable income as government cuts back on universal benefits, switches more financial burdens to the citizen from government and increases various hidden taxes.

            What have we ended up with? Incredibly, despite the vast increase in output since the 1960s we’ve ended up with a situation where our children cannot afford to start a family or buy their own home, cannot
            find decently paid work and suffer reduced public services.

            We should reconfigure the economy to focus on real jobs, economic security, and stable family life.

            We need to promote energy indepedence, environmental improvements, expanded agriculture, optimal population stability, reduced working hours, recyling and reconditioning, indigenous materials, robotics and advanced technology.

            Like

      • 33
        dai puzzled says:

        money too cheap but sterling is too strong – square that circle anyone?

        Like

    • 28
      táxpáyér says:

      BBC’s first two things.
      1/ Get Ed Balls on and give him a soft ride.
      2/ “Are these figures reliable?”

      End the TV-Tax.

      Like

      • 44
        Axe the Telly Tax says:

        3/ Run around desperately trying to find someone who says they aren’t benefiting from the recovery, in the name of “balanced reporting”

        Funny that when the economic news is bad, the BBC never try to find someone who disagrees with that.

        Like

        • 50
          Colin the Meek says:

          See also any mention of “bedroom tax” or benefits cap.

          Like

        • 73
          David Blanchflower says:

          ” 3/ Run around desperately trying to find someone who says they aren’t benefiting from the recovery, in the name of “balanced reporting” ”

          I’m free!

          Like

      • 110
        Tonyh says:

        Wait for the Balls preaching doom again. He has nowhere to go now

        Like

    • 38
      táxpáyér says:

      EU doing it’s best to destroy any economic growth, revealing Dave can do NOTHING.

      http://uk.reuters.com/article/2014/04/25/uk-eu-courts-britain-idUKBREA3O02020140425

      Like

      • 45
        Leadership 101 says:

        Dave can leave the EU. He can hold a referendum next week, advise the public that it is time to go and the public will support him.

        Like

        • 53
          Never mind the quality, feel the width says:

          Like

        • 93
          Labour are the nasty party says:

          How can Cameron hold a referendum before the General Election ?
          Clegg and Miliband would never support such a motion .
          So Cameron has to wait until after 2015 and hope that he gets a majority .

          Like

          • Twampersand mk II says:

            If he announced his intention to hold one before the next GE, and lib/labs stopped it, he would win a landslide at the next GE by promising one in the first month of a majority tory gov. Kill UKIP stone dead.

            I think most would agree with that view, and knowing what a careerist, opportunist chancer Cam, indeed all pols, are, knowing they would sell their granny in exchange for power/cash, one must ask why they won’t do it.

            Someone, somewhere, has something very, very incriminating against some of the top people in this country

            Like

        • 119
          Dave will not take UK out of EU says:

          You just don’t get it.

          Dave will organise a Yes vote.

          Like

  2. 2
    Dave says:

    Noncing up 32.8% YoY!

    Like

  3. 3
    Winning for Britain says:

    George Osborne is winning for Britain

    Like

  4. 4
    The BBC says:

    Still 0.6% smaller than 2008
    Wrong type of growth
    #Costalivincrisis
    #Outoftouch
    Swingeing cuts
    Zero hours contracts

    Like

  5. 5
    Hozwoldian says:

    At least it’s going in the right direction with all of this austerity. We will never know if a Keynesian approach would have been any better, where are we compared to the US?

    Like

  6. 6
    Nigel Garage says:

    It would be 8% if we weren’t sewn together with the incompetent Nazi inhuman centipede that forms the EU BEAST.

    Like

  7. 7

    When the country is towing £1trillion in debt bequeathed by the omni-shambolic Brown/Blair Terror, to be within statistical error of the pre-Gordon’s Bust GDP is a notable feat.

    Like

    • 14
      Mortgage borrowers have never had it so good. says:

      Good. Now raise interest rates and control this supply of easy money.

      Like

    • 17
      Ordinary Joe. says:

      Dave is still running a Deficit of circa £100 BILLION PER YEAR, after 4 years in Office.

      He will have doubled the National Debt bequeathed by Gorgon and Bollux.

      He is a classic Westminster elite ConLibLabber.

      Like

      • 59
        EU zone "B" pleb 252575 says:

        …Yeah,but,…we are a rich country;look at how much we give to the foreign people,andwe give more to more foreign people under the illusion of the EU…
        …Here at home,we give lots of money to……you guessed it!…foreign people!
        Meanwhile, our own people are treated like second class citizens in their own country,unable to get housing,schooling and nhs services because of the burden of ……foreign people!
        As for Capitalism,it is not backed up by anything tangible anymore,just myth!
        Charity begins at home,re instate the status of the individual,not groups!

        Like

      • 98
        Jim says:

        It just shows how bad things were with Brown/Balls and Ed. Everyone knows you have to stop the increase before you can come to halt and go into reverse. (Except the BBC)

        Like

    • 39
      Dorkass says:

      Tractors doing well tho.

      Like

  8. 8
    Donald Sterling says:

    no thanx to the fucking shwartzas!

    Like

  9. 9
    Dave says:

    I blame global warming

    Like

  10. 10
    Helicopter Money Man says:

    The agriculture figure is presumably due to the appalling weather in much of Q1.

    Good luck trying to spin anything negative out of this, Balls & co.

    Like

    • 15
      Ed Balls says:

      Cost of living crisis?

      Like

    • 18

      Too Far Too Fast,Too Far Too Fast,Too Far Too Fast,Too Far Too Fast,Too Far Too Fast,Too Far Too Fast,Too Far Too Fast,Too Far Too Fast,Too Far Too Fast,Too Far Too Fast,Too Far Too Fast,Too Far Too Fast,Too Far Too Fast,Too Far Too Fast,Too Far Too Fast,Too Far Too Fast, Cost of living crisis, Cost of living crisis, Cost of living crisis, Cost of living crisisCost of living crisis, Cost of living crisis, Cost of living crisis, Cost of living crisis,Cost of living crisis, Cost of living crisis, Cost of living crisis, Cost of living crisisCost of living crisis, Cost of living crisis, Cost of living crisis, Cost of living crisis, BANKERS!!

      Like

  11. 12
    Anonymous says:

    Expect the Ed’s will be crowing that the growth was less than expected 0.8 against the expected 0.9%.

    Like

  12. 16
    People's Front of Ukraine says:

    Was Agriculture affected by flooding? Or are the effects of the weather still to hit us?

    Like

  13. 26
    Casual Observer 2 says:

    Meanwhile Macho Tosser Willybum has sent 4 Typhoons to Lithuania. Vladimir continues to ignore the pathetic posing pretend international statesman as usual.

    Like

    • 40
      Putin says:

      Everyone else does.

      Like

    • 51
      Insomniacs International says:

      Useful to us.

      Has he condemned anything today yet?

      Like

    • 114
      UKIP the final solution says:

      The crappy eurofighters wont have any weapons, they cannot dogfight with SU 30s/MIG 29s and they would get shot down in about five minutes of a conflict, about as much use as a chocolate fire guard. Still they are reasonably good at doing air shows, they should have sent the red arrows and entertained the Russians to death.

      Like

  14. 41
    Ah! ha says:

    Well SC he’s certainly no Beckham

    Like

  15. 43
    Anonymous says:

    “The fifth consecutive period of growth”
    in engineered answers. Would Gove be considered rational, or to be taking the Michael, if he demanded that homework be handed in with just the bottom line of each sum showing? Unless the full workings are open to complete scrutiny, it’s more a matter of magic than real math.

    Like

    • 60
      non taxable pikey says:

      Innumeracy rules! The government scum of whatever colour depends upon the electorate being innumerate.

      Like

      • 67
        Invisible Ed Balls and Absent Gordon Brown says:

        Like

        • 80
          Danny Blanchflower says:

          Like

          • jgm2 says:

            Non existent statistical and forecasting skills?

            Ahahahahahaha.

            This from a man who provided ‘expert’ cover while the Maximum Imbecile was actively destroying the UK economy with his borrowing and squandering binge.

            Get to fuck Blanchflower, you jackass.

            Like

  16. 46
    Invisible Ed Balls says:

    Like

  17. 47
    non taxable pikey says:

    Just where are the error bars on these statistics? +/-? 0.1%, 0.5%, 0.8%? There has to be some statistical error, I just wonder what it is.

    Like

    • 58
      Taxpayer funding this crap says:

      The figures are manipulated bollux as usual. An expensive complete waste of money to provide propaganda for whatever load of LibLabConner shits that happen to be in “power” at the time.

      Like

    • 104
      Twampersand mk II says:

      Rejoice citizen, your chocolate ration has increased!

      Like

  18. 48
    An on says:

    Any ethnicity clue on the Lee’ds b o y

    Like

    • 57
      Diane Abbotomus says:

      Bet he was a snowflake.

      Like

    • 64
      Never mind the quality, feel the width says:

      He was at a Catholic school…

      Like

      • 68
        Casual Observer 2 says:

        Dave has put out the standard caring “thoughts with family and friends” statement already – or at least some No.10 clone has on his behalf.

        Has Pop Eye in the Vaticanner done the same yet?

        Like

        • 76
          Ah! but says:

          My heart also goes out to the parents of the lad who did it.

          Imagine what they are going through.

          Like

          • An on again says:

            They will need to share responsibility so save your heart.

            Like

          • Casual Observer 2 says:

            Why? They brought him into the world. Lad is too polite. Try “Murderer”

            Like

          • Git anes says:

            This is typical. Mock grief for the wrong people. This lady had worked forty years and was to retire in a few weeks. Admiral endeavour in a difficult job which most on here couldn’t do in a month of Sundays. This is so tragic for HER family.

            Today, some people pump their seed and that’s it. No further effort required, we will pay for everything, we even feed them now. Stop child benefit immediately.

            Like

      • 69
        Insomniacs International says:

        With a lot of sun tans judged by pics so far, so…..?

        Like

        • 81
          SIZE 14 CARBON FOOTPRINT says:

          If he does turn out to be white the BBC will be all over it ,IF on the other hand his name is withheld for legal reasons……………….
          If he is West Indian with an anglo scottish name he will of course be named but no photograph published .

          Like

      • 111
        The ace of clubs says:

        Being at a catholic school offers no clue. Just look at all those ultra suntanned footballers who do the {check your} heart, wallet, kissy, pointy thing as they come on to a field.

        Like

    • 107
      Twampersand mk II says:

      White.

      Like

  19. 54
    Bill Quango MP says:

    In the Great Depression there were different approaches to the crisis.

    The Americans went for never government spending on public works. It was a successful , if very wasteful method of reducing unemployment. And they shored up their banks, which stopped the financial crisis.

    The British opted for austerity. A cut back on all forms of government investment and spending. It meant the crash was the shortest of the major powers but the growth was a slow 0.5% for years.

    The French opted for increased wages, longer holidays and nationalisation of key industries. Plus increased benefits and pensions for all.

    The Germans increased their industrial output and ploughed their money into full employment and a large military.

    The soviets had already nationalised everything so they went for forced collectivisation , industrial base expansion and genocide

    Which was the best strategy?

    Hard to say as world war 2 arrived and spoiled the experiment.
    But the French were definitely the worst off. A longer, deeper recession and productivity so low that when the Germans turned up they beat the crap out of them.

    Like

    • 65
      Colin the Meek says:

      To be fair, I’m not sure the average Russian came out of that too well.

      Like

      • 78
        Diane Abbotomus says:

        Communism was a success. It still is. Just look at Cuba and Venezuela. Socialist paradises both.
        Pie and chips in Caracas or Havana is only .48p

        Like

    • 72
      Asterix says:

      By the end of the war the French had higher living standards than Britain or Germany and ended up pretending to have been on the winning side.

      Like

      • 90
        Git anes says:

        Oui, mon ami et d’accord we are still winning you but pretend we are not so we get your farm subs. Hey hey.

        Like

  20. 66
    @hateliebour says:

    They seem to be quiet on food prices in the supermarkets which are shooting up like a rocket, the tricks that seem to be going on to give the impression your just getting the same amount as last year, Olive oil has shot up and 1litre bottle is down to 750ml, soup yellow band around 380g against 400g which has just shot up between 20p to 40p, all we get as usual things are getting better of course they are we are a month and a year away from two elections where us crap are allowed to pretend we are changing and helping our future, while the real thieves sit back and enjoy themselves.

    Like

    • 71
      Never mind the quality, feel the width says:

      Soup Yellow Band? is he a relative of Ed’s?

      Like

      • 82
        Danny Blanchflower says:

        Like

        • 91
          jgm2 says:

          What a stroke of great good fortune that of all the economists world wide Labour chose this guy to be on the ‘independent’ MPC.

          It totally dispels any suspicion that Labour had an MPC policy in mind (borrow and squander as much as possible and keep interest rates as low as possible) and then searched the globe to find somebody who agreed with it rather than having an MPC, filling it with independent economists, and then following their advice.

          No, really.

          Like

    • 74
      Heston Blumental says:

      WTF is ‘soup yellow band’?

      Like

      • 94
        Yellow is colour is of the Euro losers says:

        If you go to a poundshop, they sell the stuff cheap, it’s a tin of soup with a yellow band around the top, if their’s no yellow band, the tin weighs 400g, if it has a yellow band it weighs 380g, same soup different weight, I suppose having so much money being on tv , you would just go to one of your restaurants and eat the best for free.

        Like

    • 75
      Primrose Hill Socialist says:

      My Pesto and Focaccia is a shocking price in Waitrose, I can barely afford a bottle of Cabernet Sauvignon to wash it down with

      Like

  21. 87
    Prime Minister David Cameron says:

    Let’s show solidarity with our striking comrades please.

    A 48-hour strike will affect London Underground services from around 21:30 on Monday 28 and throughout Tuesday 29 & Wednesday 30 April

    Like

    • 113
      Freight train says:

      Great encouragement for the management to rapidly introduce dri…oops… operator free trains then.

      Like

      • 118
        Lost in Clacton says:

        What is this I hear about young Cameron telling everyone he will resign if he does not get what he wants.

        Like

  22. 112
    UKIP the final solution says:

    And the liberal regime only had to borrow a shade over ten billion pounds a month to achieve this.

    Wow, tick and a star to the liberal regime.

    Trillions in debt, unlimited immigration many of whom will never put in what they plan to take out of the system and the country, squandering of tens of billions a month on the EU/foreign aid/quango/HS2/global warming frauds. Borrowing your way out of debt is like digging your way out of a hole, at some point the entire thing will collapse in on itself.

    The country is mired in debt and the liberal solution is to drown us in more debt? Vote UKIP.

    Like

  23. 115
    Corby says:

    The pe bust growth figures were unsustainable.

    The UK can manage about 2.5% pa, and that will do very nicely thank you.

    Like

  24. 117
    Long John Silver's parrot says:

    This news is terrific.

    When do we all get our tax cuts and when does Mr Carney go back to Canada ?

    Like


Seen Elsewhere

What We Learned From the Referendum | FT
Scottish Crisis Moves South | Nick Wood
English Democrats Accidentally Celebrate Yes Victory | Pink News
Union In Its Current Form is Dead | Janan Ganesh
Labour Could Be Split in Two | Sun
Ashcroft Poll: Why Scotland Voted No | Buzzfeed
Boris: Change Barnett Formula | Sun
Cameron is Back | Dan Hodges
What Happens Now | James Kirkup
Cairo of the North | Quentin Letts
Labour are the Biggest Losers | Phil Collins


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