Rollingthe UK economy looks it is moving to the bottom of the G7 growth league table,though it should be added that it is currently not headed for recession. 8.53am BSTIf you really want know what’s happening in an economy, GDP is a rather blunt tool.
It tries to degree the total value of all of the goods made, or services provided,in an economy, to show whether it grew or shrank.“Too much and for too long, and we seemed to occupy surrendered personal excellence and community values in the mere accumulation of fabric things. Our Gross National Product,now, is over $800 billion dollars a year, and but that Gross National Product - if we judge the United States of America by that - that Gross National Product counts air pollution and cigarette advertising,and ambulances to clear our highways of carnage.
It counts special locks for our doors and the jails for the people who shatter them. It counts the destruction of the redwood and the loss of our natural wonder in chaotic sprawl. It counts napalm and its counts nuclear warheads and armored cars for the police to fight the riots in our cities. 8.27am BSTGross domestic product (GDP) is a key government statistic and provides a degree of the UK's total economic activity. 8.20am BSTMany City economist occupy warned that nowadays’s UK growth figures may show tiny improvement on the first quarter of this year.
We estimate the economy expanded by 0.3% quarter-on-quarter, which is not much stronger than the 0.2% q/q growth rate in Q1 (the weakest among the EU member states). The main reason is that private consumption has slowed, and as the weaker pound is eroding consumer purchasing power. After considering the sample of activity in construction and industrial production in April and May,and the headwinds for the consumer that occupy been constraining elements of service sector growth, we now consider that it would take an unlikely combination of positive news across all sectors in June to get to growth of 0.4% q/q overall.“It looks odds-on that whatever growth the UK managed to eke out in the moment quarter will occupy been solely due to the services sector. “This does appear to occupy seen some pick-up in activity after a particularly weak first-quarter performance. 7.58am BSTGood morning! We’re approximately to discover how well, and badly,Britain’s economy performed in the last three months.
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Source: theguardian.com