So, will the figures be revised down yet ? (GDP update due)

[anonymous-user]

[redacted]

[Puggit]

Labour simply cannot afford for that figure to dip in to the negatives...

[Fittster]

Weren't there some good manufacturing figures released earlier this month?

[youngsyr]

anonymous said:

[redacted]

How much leverage does Labour have over the ONS though - future job cuts are hardly a threat if Labour aren't in power in 90 days time.

Plus Labour are committed to spending rather than cost-cutting their way out of the recession. They've gone on record several times saying that it's too early to cut spending as it would result in a double-dip recession.

The above means Labour have neither the policy support nor the time to punish the ONS should it publish unsatisfactory figures.

[NoelWatson]

Consensus in +0.2%. I am going for that

[Muncher]

They will be fiddled further upwards, I'm thinking to 0.4% growth. Do we know what time the figures will be released?

[fido]

youngsyr said:

How much leverage does Labour have over the ONS though - future job cuts are hardly a threat if Labour aren't in power in 90 days time.

It's probably one of the more independent parts of the civil service - know a few peeps that work there and they have an independent body to report any 'massaging' to - and they are being relocated out of London which i imagine they aren't pleased about. Still i pray it's negative (albeit by a bit) to give Brown & co a kick up the backside.

Edited by fido on Friday 26th February 09:23

[NoelWatson]

+0.3%

[NoelWatson]

NoelWatson said:

+0.3%

But YOY revised downwards from -3.2% to -3.3%

[Plotloss]

It's another rounding error.

[Bolebroke]

Government spending nicely up...wonder why that might be ..? Inventories, global manufacturing all up...benefit of borrowing now to spend for future....so by end of 2010 growth comes off...fiscal tightening post election....double dip !

[Mojocvh]

NoelWatson said:

NoelWatson said:

+0.3%

But YOY revised downwards from -3.2% to -3.3%

Please what is YOY??

Mo.

[Plotloss]

Year on Year

[john_p]

So take out Christmas spending, large purchases done before the VAT increase, scrappage scheme etc and where are we?

Still in recession, I bet

[Plotloss]

john_p said:

scrappage scheme

Ah, light dawns.

Crafty fkers.

[Mojocvh]

Plotloss said:

Year on Year

[Nick_F]

The good news is that tractor production is up again. Onward comrades, towards the next five year plan.

[Trommel]

A surprise given that there are only two tractor factories left here.

[Mr E]

anonymous said:

[redacted]

Read somewhere that BBC political bods are on standby this weekend...

[oyster]

john_p said:

So take out Christmas spending, large purchases done before the VAT increase, scrappage scheme etc and where are we?

Still in recession, I bet

Agree with you on scrappage and VAT impact, but Christmas? It's not as if Christmas spending was unique to 2009.