Signs of recovery

[FatCat]

COVID-19: Economy grows by 4.8% in second quarter as post-lockdown reopening drives spending spree

The chancellor says the UK is now growing at the fastest pace in the G7 group of advanced economies but economists are predicting an easing in output over the summer.

news.sky.com

 

[ForssAwakens]

In other news the sky is blue.

growth was inevitable once people are allowed to do more things

 

[Laughing]

The economy is also expanding from an all time low. It will be a while before we know where we are going to be post covid.

 

[Muttley]

As ever there is a caveat, well down in the article...

He added that GDP remained around two percentage points below its pre-pandemic peak.

So we are not yet back to March 2020 GDP.

Good news that we are seeing recovery but it isn't "growth" is it?

 

[Laughing]

You’re correct as it’s never happened before thus no history to look for parallels . I don’t think the WW2 recovery is an accurate template

It may prove to be comparable, I guess but ww2 stole a generation of young men and left a lot of enforced rebuilding. Covid has, mostly, taken older men and women with no rebuilding and rising unemployment.

We may end up in a booming economy but with limited trade agreements round the world to bounce back with I suspect we may suffer for some time.

 

[Randy]

We've been super busy since reopening even though some predicted a hospitality jobs apocalypse.

 

[Laughing]

We've been super busy since reopening even though some predicted a hospitality jobs apocalypse.

I am not surprised Randy that would be expected and will be repeated round the country and its probably fuelled by lockdown ending and 10,000 less pubs and restaurants than this time last year.

 

[NorthumberlandBoro]

The UK economy is now 4.4% smaller than it was before the pandemic.
Must admit I was expecting worse.

 

[Littlejimmy]

Headline in today's Express will be:

BRILLIANT BRITISH ECONOMY GROWS EXPONENTIALLY AND SURGES PAST EVIL EU (SOMETHING, SOMETHING MEGHAN, DIANA, MADELAINE)

 

[FatCat]

In other news the sky is blue.

growth was inevitable once people are allowed to do more things

Sorry if it upsets you ;-)

 

[FatCat]

As ever there is a caveat, well down in the article...

So we are not yet back to March 2020 GDP.

Good news that we are seeing recovery but it isn't "growth" is it?

I expect it will be once we recover from Covid.

 

[FatCat]

We've been super busy since reopening even though some predicted a hospitality jobs apocalypse.

I expect this will just be the start - you will get a rest in January ;-)

 

[Laughing]

I expect it will be once we recover from Covid.

Hopefully that is the case fatcat. I would temper your enthusiasm a bit though to avoid later disappointment.

The only way the economy could go was up, but at least it is going up.

 

[Corcaigh_the_Cat]

We've been super busy since reopening even though some predicted a hospitality jobs apocalypse.

That was you wasn't it?

 

[Borobarmy]

Headline in today's Express will be:

BRILLIANT BRITISH ECONOMY GROWS EXPONENTIALLY AND SURGES PAST EVIL EU (SOMETHING, SOMETHING MEGHAN, DIANA, MADELAINE)

Don’t forget imminent heatwave and property market gone berserk

 

[Unravel_Morrison]

It is pretty disappointing really. I know the papers will always spin it but anyone who looks beyond the headline will think this is pretty poor.

 

[Randy]

I expect this will just be the start - you will get a rest in January ;-)

I've been at my current place for 4 years now and we haven't had a quiet January yet. Unheard of in our game usually.

 

[Randy]

That was you wasn't it?

Nope. I was told we'd all be jobless once furlough started winding down and brexit started taking an effect. I haven't had a furlough payment on my wage slip since outdoor dining was allowed.

 

[Erimus74]

Dear me it's a positive step in the right direction, whether it's at the same level before the pandemic, let's just hopefully look forward

 

[SmallTown]

Dear me it's a positive step in the right direction, whether it's at the same level before the pandemic, let's just hopefully look forward

True we have an entire other economic disaster to try and pick our way out of at the moment as well.