THE TELEGRAPH: High interest rates risk plunging Europe into recession while UK expected to rebound
UK growth will outpace Germany and the eurozone for years to come as the Continent faces a deeper recession caused by higher interest rates.
While both the German and UK economies shrank in the three months to September, putting both at risk of recession, analysts at UBS expect Britain to bounce back within a year.
That is unlike Europe’s largest economy. Berlin is already grappling with a budget crisis after Germany’s top court ruled that the government broke the law by using Covid cash to fund net zero spending.
House prices across the country have also suffered double-digit declines. » | Tim Wallace | Friday, December 29, 2023
If you believe this cr**, you’ll believe ANYTHING! There is no way that the weak UK economy is going to outgrow the much stronger German economy. The only way that this might be made to appear so is by the use of sophistry in statistics.
Diese Behauptung ist lächerlich! Die deutsche Wirtschaft in den kommenden Jahren wird mit geringem Aufwand schneller wachsen als die britische Wirtschaft. Die deutsche Wirtschaft wird in keiner Weise von Großbritannien entwachsen sein. Überhaupt nicht! Schön wäre es für uns Briten; aber dies wird nicht passieren. – © Mark Alexander
Showing posts with label economic growth. Show all posts
Showing posts with label economic growth. Show all posts
Saturday, December 30, 2023
Wednesday, July 13, 2022
Average UK Household £8,800 a Year Worse Off Than Those in France or Germany
THE GUARDIAN: Thinktank blames inequality and poor productivity as CBI calls for investment policies to fuel growth
The UK’s failure to get serious about inequality and weak growth over the past 15 years has left the average British household £8,800 poorer than its equivalent in five comparable countries, research has found.
A “toxic combination” of poor productivity and a failure to narrow the divide between rich and poor had resulted in a widening prosperity gap with France, Germany, Australia, Canada and the Netherlands, the report from the Resolution Foundation said.
The thinktank said that if the UK matched the average income and inequality levels of those countries, typical household incomes in Britain would be a third higher and those of the poorest households two-fifths greater.
Its chief executive, Torsten Bell, said: “Britain is a rich country, with huge economic and cultural strengths. But those strengths are not being built on with the recent record of low growth leaving Britain trailing behind its peers.
“This forms a toxic combination with the UK’s high inequality, leaving low- and middle-income households far poorer than their counterparts in similar countries. » | Larry Elliott | Wednesday, July 13, 2022
The UK’s failure to get serious about inequality and weak growth over the past 15 years has left the average British household £8,800 poorer than its equivalent in five comparable countries, research has found.
A “toxic combination” of poor productivity and a failure to narrow the divide between rich and poor had resulted in a widening prosperity gap with France, Germany, Australia, Canada and the Netherlands, the report from the Resolution Foundation said.
The thinktank said that if the UK matched the average income and inequality levels of those countries, typical household incomes in Britain would be a third higher and those of the poorest households two-fifths greater.
Its chief executive, Torsten Bell, said: “Britain is a rich country, with huge economic and cultural strengths. But those strengths are not being built on with the recent record of low growth leaving Britain trailing behind its peers.
“This forms a toxic combination with the UK’s high inequality, leaving low- and middle-income households far poorer than their counterparts in similar countries. » | Larry Elliott | Wednesday, July 13, 2022
Sunday, June 12, 2022
The Observer View on Britain’s Dire Economic Outlook
THE OBSERVER – EDITORIAL: The true cost of Brexit is becoming painfully clearer by the day
The OECD has predicted that the UK economy will not grow at all next year. Photograph: Phil Noble/Reuters
Britain’s growth prospects are the gloomiest of all developed nations. The OECD predicted last week that the UK economy would not grow at all next year, the worst outlook for any OECD nation. This follows warnings in April from the IMF that the UK will experience the worst growth out of the G7 nations in 2023. After a decade of stagnant wages, it seems Britons need to resign themselves to the fact that the buoyant growth of the 2000s is but a distant memory.
Every country has suffered the shock of the pandemic, followed by the spike in oil and wheat prices triggered by Russia’s illegal war in Ukraine. But other developed economies have proved more resilient, enjoying export-driven recoveries in the wake of Covid. Here in Britain, the economic malaise left exposed by the 2008 financial crisis is long term and structural.
This crisis was supposed to prompt a big economic rethink: a reckoning with Britain’s addiction to growth fuelled by rising levels of consumer debt enabled by rising house prices. The then shadow chancellor George Osborne pledged to rebalance the economy away from debt-driven growth to more productive development, driven by business investment and exports, underpinned with an expansion of the UK’s manufacturing base and a reduction in the huge regional inequalities between the south-east and the rest of the country. » | Editorial | Sunday, June 12, 2022
We are being led by clowns, fools and jesters. These dickheads wouldn't be able to arrange an orgy in a brothel! Brexit is for the birds. – © Mark Alexander
Britain’s growth prospects are the gloomiest of all developed nations. The OECD predicted last week that the UK economy would not grow at all next year, the worst outlook for any OECD nation. This follows warnings in April from the IMF that the UK will experience the worst growth out of the G7 nations in 2023. After a decade of stagnant wages, it seems Britons need to resign themselves to the fact that the buoyant growth of the 2000s is but a distant memory.
Every country has suffered the shock of the pandemic, followed by the spike in oil and wheat prices triggered by Russia’s illegal war in Ukraine. But other developed economies have proved more resilient, enjoying export-driven recoveries in the wake of Covid. Here in Britain, the economic malaise left exposed by the 2008 financial crisis is long term and structural.
This crisis was supposed to prompt a big economic rethink: a reckoning with Britain’s addiction to growth fuelled by rising levels of consumer debt enabled by rising house prices. The then shadow chancellor George Osborne pledged to rebalance the economy away from debt-driven growth to more productive development, driven by business investment and exports, underpinned with an expansion of the UK’s manufacturing base and a reduction in the huge regional inequalities between the south-east and the rest of the country. » | Editorial | Sunday, June 12, 2022
We are being led by clowns, fools and jesters. These dickheads wouldn't be able to arrange an orgy in a brothel! Brexit is for the birds. – © Mark Alexander
Wednesday, August 14, 2013
Growth in Germany and France Ends Euro Recession
Germany and France finally powered the eurozone out of its longest-ever recession between April and June, official figures showed today.
The stronger-than-expected 0.3% growth ends six-successive quarters of economic contraction for the single-currency bloc and also heralds better news for the UK’s exporters, which send around 40% of their goods to European markets.
The recovery was led by the eurozone’s two biggest economies as powerhouse Germany managed 0.7% growth and France cheered markets with an unexpectedly strong 0.5% bounce-back from a mild recession of its own. This was France’s strongest advance for two years. » | Russell Lynch | Wednesday, August 14, 2013
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