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IMF predicts UK economic bounce-back this year to match resurgent US

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By *atEvolution OP   Couple
over a year ago

atlantisEVOLUTION Swingers Club. Stoke

https://news.sky.com/story/imf-predicts-uk-economic-bounce-back-this-year-to-match-resurgent-us-12364919

"IMF predicts UK economic bounce-back this year to match resurgent US

The International Monetary Fund sees Britain growing in 2020 at the joint-strongest pace of the G7 group of leading industrialised nations - after a contraction last year that was the worst among them."

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By *dwalu2Couple
over a year ago

Bristol

A 7% growth sounds great, until you read the link about contraction they buried a little further down from the headline:

‘The ONS now judges that UK GDP shrank by 9.8% last year, a very slight improvement on the initial estimate of a 9.9% decline but still the worst performance since the Great Frost of 1709.’

Crack open the champagne lads.

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By *atEvolution OP   Couple
over a year ago

atlantisEVOLUTION Swingers Club. Stoke

Better for it to be best performing at 7% however on par with the USA than all the rest.

"The UK growth rate this year is stronger than Germany (3.6%), France (5.8%) and Italy (4.9%), though the UK economy contracted more than those other countries in 2020.

The IMF's updated forecasts also anticipate the UK growing by 4.8% next year, implying that the UK economy will regain its pre-COVID levels around the turn of the year."

The turn of the year! Not bad going if it happens.

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By *ionelhutzMan
over a year ago

liverpool


"A 7% growth sounds great, until you read the link about contraction they buried a little further down from the headline:

‘The ONS now judges that UK GDP shrank by 9.8% last year, a very slight improvement on the initial estimate of a 9.9% decline but still the worst performance since the Great Frost of 1709.’

Crack open the champagne lads. "

So it's really-3%?

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By *atEvolution OP   Couple
over a year ago

atlantisEVOLUTION Swingers Club. Stoke

Read it again.

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By (user no longer on site)
over a year ago


"A 7% growth sounds great, until you read the link about contraction they buried a little further down from the headline:

‘The ONS now judges that UK GDP shrank by 9.8% last year, a very slight improvement on the initial estimate of a 9.9% decline but still the worst performance since the Great Frost of 1709.’

Crack open the champagne lads. "

Woo hoo

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By *oo hotCouple
over a year ago

North West


"Better for it to be best performing at 7% however on par with the USA than all the rest.

"The UK growth rate this year is stronger than Germany (3.6%), France (5.8%) and Italy (4.9%), though the UK economy contracted more than those other countries in 2020.

The IMF's updated forecasts also anticipate the UK growing by 4.8% next year, implying that the UK economy will regain its pre-COVID levels around the turn of the year."

The turn of the year! Not bad going if it happens. "

Simple Maths

If you start with an index of say 100 and it shrank by 10%, its value would then be 90.

Growing back by 10% would not take you back to 100.

If the economic hit was the largest in Europe, it will take a resurgence of all of that hit and more as well just to get back on an even keel.

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By *atEvolution OP   Couple
over a year ago

atlantisEVOLUTION Swingers Club. Stoke

Read again:

The IMF's updated forecasts also anticipate the UK growing by 4.8% next year, implying that the UK economy will regain its pre-COVID levels around the turn of the year.

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