Strong July Growth as Recession Threat Dies

Threats of a recession in the UK have faded after the UK economy showed solid growth in July. Defying remainer expectations.

As the BBC’s Economics Editor, Faisal Islam, concedes, “strongly suggesting [a] return to growth in Q3, albeit Q3 hasn’t finished yet – so recession not looking likely”.

The 0.5% growth rate – driven greatly by construction growth – comes after a 0.2% contraction in the second quarter of the year, and marks the strongest month of growth since January. 0.3% growth is three times higher than predicted – expect more economic predictions to be defied over the coming months…

mdi-timer 9th September 2019 @ 11:00 am 9th Sep 2019 @ 11:00 am mdi-comment Comments
UK Economy £26 Billion Bigger than Previously Calculated

New ONS methodology revealed today has shown the UK economy is actually £26 billion larger than economists previously thought, having revised up 2016 GDP growth by 1.3%. Surely the biggest #DespiteBrexit story of them all.

The new methodology focuses on costs faced by businesses, it also changes the way assets such as buildings and machinery are measured, giving “significantly improved estimates of how money moves around the UK economy”. There’s also good news for Gordon Brown’s legacy, as the new figures show the recession tanked the economy by a mere 6%, not the 6.3% previously thought…

mdi-timer 20th August 2019 @ 1:00 pm 20th Aug 2019 @ 1:00 pm mdi-comment Comments
Eurozone Industrial Production Slumps Second Month in a Row

Three smug eurocrats have been gloating about Brexit and the Tory leadership race in a Sky News segment which Sky have inexplicably been playing on repeat all day. Not exactly news.

They won’t be as smug when they see the latest Eurozone industrial figures. Industrial production fell 0.5% in April on top of a 0.4% drop in March. Dragging every other country down was Germany which saw its industrial production plummet by 2.3% – almost five times faster than the Eurozone as a whole. Brussels’ Brexit bluster is going to start looking pretty hollow if the Eurozone’s economic woes keep getting worse like this…

mdi-timer 13th June 2019 @ 4:39 pm 13th Jun 2019 @ 4:39 pm mdi-comment Comments
UK Manufacturing Sector Smashes Expectations, Eurozone Worst in 6 Years

The latest manufacturing PMI figures are out and it’s more grim reading for Merkel and Macron with the Eurozone’s index falling to 47.5 in March – firmly in contraction territory and the lowest level since April 2013. Germany is rapidly becoming the sick man of Europe, its reading of 44.1 is the worst since the crisis days of 2012…

Meanwhile the UK’s own manufacturing index has surged to a 14-month high of 55.1, coming in far ahead of the forecast of 51.2. The UK could even consider giving the EU a trade deal, if they ask nicely…

mdi-timer 1st April 2019 @ 1:30 pm 1st Apr 2019 @ 1:30 pm mdi-comment Comments