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Re: [Update 2] PM Boris forms a government
Quote:
Originally Posted by Pierre
The was an economist on the radio today that actually talked rational sense.
He advised that in 2012 there was a lot of positive economic factors in the run up to the olympics and once the olympics finished there was an obvious deficit in those factors.
Likewise, in 2019, the country was gearing up for a March exit. Bulk buying and storing of materials and products was rife. But Brexit didn’t happen.Therefore causing a deficit in the activity the following quarter.
With BJ taking a hard line on October exit - regardless, expect to see more buying and storing activity a second contraction is unlikely but expect a contraction the quarter after regardless of whether we leave or not.
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Small flaw in that theory - the 2012 recession was caused by negative growth in the last quarter of 2011 (Oct-Dec) and the first quarter of 2012 (Jan-Mar 2012),
The Olympics were in July/August 2012...
Anyway, after its historical data, the Office for National Statistics said growth was flat in the first quarter of 2012, revised from an earlier estimate of a 0.1% contraction. This means the economy did not contract for two quarters in a row - the definition of a recession.
---------- Post added at 20:35 ---------- Previous post was at 20:33 ----------
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Quote:
Originally Posted by nomadking
What are the chances they won't be invited again.
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Do you mean like Nigel Farage?
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Last edited by Hugh; 09-08-2019 at 20:39.
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