Whoops, No Recovery in the UK It Seems …
Source: http://clausvistesen.squarespace.com/alphasources-blog/2009/10/23/whoops-no-recovery-in-the-uk-it-seems.htmlPosted on Friday, October 23rd, 2009 | In Investing Lessons, Market Commentary
… at least not yet that is. Let us see how the rest in Europe will fair.
U.K. gross domestic product unexpectedly dropped in the third quarter as enduring slumps in services, manufacturing and construction kept the economy mired in its longest recession on record.
Gross domestic product dropped 0.4 percent from the previous three months, the Office for National Statistics said today in London. Economists predicted a 0.2 percent increase, according to the median of 33 forecasts in a Bloomberg News survey. The economy has now contracted in six quarters, the most since records began in 1955.
Chancellor of the Exchequer Alistair Darling said this week he will focus on spurring economic growth as he struggles to cement a recovery in time for a general election due by June. Today’s data may add to pressure on Bank of England officials to expand bond purchases at their Nov. 5 decision after completing a plan to buy 175 billion pounds ($291 billion) in assets.
Where goes Sterling on this?
Last 5 posts by Claus Vistesen
- Random Shots - November 13th, 2009
- The IMF on Asia's Recovery and its Sustainability - November 9th, 2009
- Too Much of a Good Thing in Australia? - November 5th, 2009
- Japanes Companies, Exports and the Current Account - November 2nd, 2009
- Are Americans Becoming Less Nomadic? - October 25th, 2009
bank of england, bloomberg, chancellor of the Exchequer, Europe, Gbp, Gross Domestic Product, Investing Lessons, London, Market Commentary, Office for National Statistics, United Kingdom, USD
 About Claus Vistesen (http://clausvistesen.squarespace.com/)
Claus Vistesen is a 23 year old macroeconomist on the verge of finishing his MSc in Applied Economics and Finance from the Copenhagen Business School. His primary research interests are international finance and international macroeconomics, especially, the changing structure of global and national demographics. Claus takes an interest in the econometrics discipline which he intends to dig deeper into post graduate. He primarily writes out of his own blog Alpha.Sources as well as Global Economy Matters. He liaises closely with his colleague and friend Edward Hugh whom he develops and produces research material and articles with. In terms of specific topics Claus tracks the European economies as well as Japan as his main areas of focus. Claus has been online with Alpha.Sources since September 2005 and has realized how a serious online presence can be an asset in terms of academic work as well as on a personal relationship level. He is grateful for the reactions, opinions, and contacts he has received through this site. The interaction between macroeconomics and demographics is a strong anchor in what goes on at Alpha.Sources, and his work in general. In the end, Alpha.Sources represents a way for Claus to conceptualize his thoughts and views on the surrounding world, so no boxes and boundaries can be set on the content. |
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