chris955

Yes exactly, its all good news and all very welcome. Small steps, small steps

dunroving

Just repeating something time and again doesn't make it true - I prefer to trust more astute accounts of current economic affairs, from people like Stephanie Flanders, David Smith and Robert Peston (not just these, but they have usually been more correct in the past than the government "experts").

Stephanie Flanders' latest column on the BBC News site makes interesting reading:

http://www.bbc.co.uk/news/business-19675054

I would love to take solace in the latest crumbs of positivity (I'm not enjoying the effect of the economy on my own situation one bit), but inspection of longer-term data indicate this is just a blip in a series of not-too promising long-term statistics. The graph in the Web page below, for example, shows that this slight downward blip was preceded by an increase - and is currently higher than the US unemployment rate for the first time since the recession started:

http://www.leftfootforward.org/2012/...ssion-started/

dunroving

There's something I can wholeheartedly agree with - a real reason to be positive.

chris955

I dont need a reason to be positive, I just am

dunroving

Err, I think we've all figured that one out, mate.

Lothianlad

The powers that be at the Bank of England yesterday Friday 21/09 were quite optimistic about the current economic situation here in the UK, and that this country would rise above any turmoil taking place across the Channel in the Eurozone. Unemployment has indeed been falling month by month now for some time, and as stated the inflation rate is, at the present time at least, is on a downward trend albeit very gradual.

Last month industrial manufacturing in the UK rose at the highest % level for 25 years as new markets are established in countries outside of the European Union

In spite of this "good news" though, belt tightening and a firm hand on the nation's purse strings is still the order of the day, and will have to remain that way for quite some time, but to the "consternation and dismay" of the BBC not to mention the Opposition Front Bench there really, really [B]ISB] a glimmer of light appearing at the end of the dark economic.

Each time there is an item of good economic news in BBC news bulletins it is relegated to about number five or six in order of precedence.

Each time it is bad news it is the first item to be reported on in the bulletin, but that's the luvvy lefty Beeb for you.......forever giving priority to the political left in Britain, but things may well change now with a new man in charge of the News Department.....not a luvvy by any stretch of the imagination.

Bud the Wiser

As if by magic.......... the goal posts are moved again.

http://www.telegraph.co.uk/finance/e...l#dsq-comments

Panhandle

Inflation may be dropping, but what I really want is house prices dropping!

In london that is

Pom_Chch

I'll drink to that!

chris955

Oddly enough being positive almost seems a negative

chris955

Yes the good news is definitely out there but it is often easier to 'find' the bad news

Panhandle

With so many figures being put forward and then recounts and revised ups and downs who really knows whats going on!

My belts tighter than a camels arse i a sandstorm, can things only get better!

dunroving

Morgan Stanley just predicted that the UK budget deficit will be greater than that of Greece and Ireland in 2013 (£126 bn, or 7.8% of GDP, compared to the predicted 6.3% of GDP for Greece and 7.5% for Ireland).

chris955

You have to love all these predictions but it is very fortunate the UK economy is able to handle that better than either of those countries.

dunroving

Just thought I'd add that it will also be higher than Italy and Spain, too ... and that a £126 bn deficit equates to an annual increase in debt of approximately £2,000 for every person in the UK.

The national debt (not deficit) in July was over £1 trillion [Source: Office of National Statistics publications, July 25th, 2012], or £2.3 trillion if you include the final sector intervention (though hopefully we will get at least some of that back from the banks).

This equates to approximately £20,000 of debt per person, increasing by about 10% annually (or £56,000 of debt per household). Double that, and add more if you include the debt of the bank bailout.

Scary stuff.