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I had to laugh!!

shalom2010
Grafter
Posts: 972
Registered: 28-12-2012

I had to laugh!!

The USA economy in the last 3 months has expanded by 2.5 per cent, but economists are really disappointed because they failed to meet
their target of 3 percent.
Here Osborne is saying our economy is 'healing' at 0.3 per cent growth Smiley
Well what do you think?
http://www.nytimes.com/2013/04/27/business/economy/us-economy-grew-at-2-5-rate-in-first-quarter.html...
5 REPLIES
Community Veteran
Posts: 18,547
Thanks: 193
Registered: 12-08-2007

Re: I had to laugh!!

There are definite signs that the economy here (in the US) is improving but the sequestration is not helping.  The parties need to get together and sort it out otherwise it will have a negative effect on growth.
Community Veteran
Posts: 5,342
Thanks: 609
Registered: 23-09-2010

Re: I had to laugh!!

"gas prices have fallen in the last two months, which means households have more money freed up for other kinds of purchases"
As it's about America I'm not sure what gas they mean but a good fall in gas or petrol prices here would help as well.
Personally I would also like to see a bank rate that's fair to savers and not just the borrowers.
If that good news happened here it would probably be used to cover up that a certain red line had been crossed and the generals were busy revving up their tanks.
Community Veteran
Posts: 18,547
Thanks: 193
Registered: 12-08-2007

Re: I had to laugh!!

It does mean petrol. Over the past month the price of gas where I buy from has been as high as $3.51 and today it was $3.27 per US gallon.
Shale gas is also having an effect on the price of gas supplies but this has only just started to filter through to the economy.
I don't understand what you mean in your last comment about generals busy rewing up their tanks.
It is difficult, almost impossible, to have an interest rate that is fair to both borrower and saver. The growth in the UK economy is very fragile and any increase in interest rates would not be good. It would have a negative impact on business and also the housing market where many would be forced out of their homes.
Community Veteran
Posts: 5,342
Thanks: 609
Registered: 23-09-2010

Re: I had to laugh!!

The red line was in reference to Obama and Syria.
If we all get involved there we can forget about recoveries of any sort.
Though if various chemicals do start getting used I guess we (America and I'll expect the UK) will have little choice.
Obama will be damned if he does and damned if he doesn't.
Community Veteran
Posts: 3,826
Thanks: 44
Fixes: 1
Registered: 24-09-2008

Re: I had to laugh!!

The US GDP figures are calculated on a different basis.
The US figure now includes a value on intangibles, such as research and development, that currently were not part of the original GDP formula.
The ONS calculates the UK GDP from a combination of :-
The value of the goods and services produced by all sectors of the economy; agriculture, manufacturing, energy, construction, the service sector and government
The goods and services purchased by households and by government, investment in machinery and buildings. It also includes the value of exports minus imports
The value of the income generated in terms of profits and wages.
The ONS does not currently include investment in research and development costs..