Posted on 08/09/2019 12:36:58 PM PDT by Berlin_Freeper
Fears that the UK could be heading for its first recession in a decade have been stoked by grim official figures showing that the economy contracted in the second quarter of 2019.
Brexit uncertainty, car plant shutdowns and the running down of stock built up before the original end of March deadline for Britain’s EU exit resulted in gross domestic product shrinking by 0.2% in the three months ending in June.
News from the Office for National Statistics of the first fall in quarterly GDP in six and a half years sparked immediate speculation that a further bout of Brexit jitters leading up to the new 31 October departure date could lead to a second successive quarter of negative growth – the technical definition of a recession.
(Excerpt) Read more at theguardian.com ...
Expect anything different from leftist rag guardian? “fears” “shrinks” “chaos.” They WANT a recession, like all rotten leftists they are willing to destroy a country to get their people in power.
The Gaurdian -read no further.
No surprise. Markets are fickle. They like consistency. Brexit is a disruptive concept. It’ll be better in the end.
The Office of National Statistics said it fell by 0.2 per cent due to car factory shutdowns and uncertainty due to Brexit.
It raises fears of a recession - which is when the economy shrinks for two consecutive quarters.
The market tanks on uncertainty. If Boris grew some balls and finally went through with it, the market would pad the end result into it and pick back up.
With a USA free trade deal in time for Christmas.
0.2%? Even George Costanza would
hardly call that shrinkage. Chicken
Little must be writing for the Guardian.
I really hope that happens. Have not had a lot of time to study or read about recent developments.
Are they close to finalizing anything?
They haven’t had anything but words on this. That “there will be a trde deal post brexit” - but forget about finalizing - they haven’t even started.
I have no doubt in November there will be an offer of a trade deal - in some level of completion. But then negotiations will start. Between two democracies and complex economies, these things will take time - lots of little details to work out.
Depends on what you define as “the end” - if by “the end” you mean when a firm decision is made and Brexit happens on October 31 (As we all hope), then no, it’s not going to be better in November/December 2019. In fact it won’t be ok until agreements come in force - even potential trade agreements with the US,etc will take time to agree and then to enforce (remember that USMCA isn’t agreed yet)
That confusion will keep the market falling
Now once stability is achieved, it will no longer fall, but what will happen is anyone’s guess
The markets have already figures in a drop. On November 1-15 it might pick up a little or not. But there will not be a pick up until trade agreements are signed off, which will take time.
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