UK GDP fell by 20% in April - the largest slump since records began

[Borg Refinery]

But it's so a huge change guys, this is being treated as big news and will cure ALL our probems!

[srb7677]

It's been revised back to 19.8%

So GDP only fell by 19.8% and not 20%.

Thank f**k for that!

[DeppityDawg]

It's been revised back to 19.8%

Oh well, thats ok then...we're just f*cked now instead of completely f*cked

[patman post]

HR should be renamed IR, Inhuman Resources.

Anti-personnel dept in some organisations...

[Borg Refinery]

It's been revised back to 19.8%

https://markets.businessinsider.com/news/stocks/uk-gdp-economy-shrank-record-second-quarter-ons-2020-9-1029633785#

[papasmurf]

Makes me wonder how good an HR Manager she really was ...

HR should be renamed IR, Inhuman Resources.

[johnofgwent]

Found THIS story just now which I think relates rather well to the GDP tanking....

https://www.bbc.co.uk/news/business-53026175

"Coronavirus: 'I've applied for more than 100 jobs"

So let's get this straight...

She WAS an "HR Manager" and "fearing her position was at risk" she chucks the job in, books a foreign holiday, and expects to breeze into something when she gets back.

Now admittedly this plan was hatched before Coronavirus and the FCO screwed her travel plans but REALLY .............

She's 34. If she was 74, or even 64, she would perhaps have memories as my father had, and as Moira and I still have, of a time when, before Blair filled this country with immigrants, and before five hundred million people of working age had the undeniable right to rock up here and apply for her job, of a time when jobs were hanging from trees that you could pluck any time you fancy. For in the post-war years right up to the early 70's before everything went to hell in a handcart under Jim Callaghan, all sorts of jobs at all sorts of skill levels were indeed plentiful and available to anyone who showed, and kept up, a bit of interest.

But someone born in 1986 would like my daughter have been in the vanguard of Blair's rewrite of how we educate our children, and would have emerged from his piss poor excuse of an education system into the world of unemployment, mass immigration and the gig economy, with a side order of students with mickey mouse degrees finding out the hard way that all you get from such paperwork is a five to six figure debt with nothing useful to show for it.

And even though we've now left the EU thank god, she STILL has the problem that over 500 MILLION people of working age STILL have the right, until the end of this year, to stroll up and say "I'll take that job for less than she wants for it"

Well, it seems some people need to find out the hard way that you never give up a job voluntarily unless you have the next one lined up.

One would have thought as an "HR Manager" and thus someone innately associated with hiring and firing people, she would have known that.

Makes me wonder how good an HR Manager she really was ...

[Thomas]

As far as shopping goes there is a lot of talk amongst avid shoppers that I know of finding that they have found the lockdown rather liberating. Anything needed has been ordered online, deliveries have been pretty much as usual and the need to hit the High St etc has rather lost it's attraction. On top of that some have found that they are financially a lot better off without it. The main benefit of physical shopping for clothes for example was the ability to try it on before buying. With changing rooms removed and no loos either there is little appeal.

I think as we know online shopping has been on the increase for years toots long before covid 19 , but there is no way it will fully replace the real life shopping experience.

Online food shopping/delivery has its place , but my wife always complains about aspects of it( getting bammed up with stuff nearly out of date , poor quality veg and fruit , etc etc)

You mention clothes and obviously shoes , again my wife often shops online at next and many other palces and is always taking back clothes and shoes because the sizes are all over the place. I have footwear that ranges from a size 9 to 11 ( im a 10) as an example.

I think most retailers would love to close down the high street and go full online , but they know it wouldnt work. The major problem i see is the vast amount of rent they are paying in towns and cities across these islands. People though like my wife still want to get out and shop , and browse in real life the stuff they wish to purchase.

[papasmurf]

the need to hit the High St etc has rather lost it's attraction.

The nearest town to me has had few shops to shop in for a long time now.

[T00ts]

As far as shopping goes there is a lot of talk amongst avid shoppers that I know of finding that they have found the lockdown rather liberating. Anything needed has been ordered online, deliveries have been pretty much as usual and the need to hit the High St etc has rather lost it's attraction. On top of that some have found that they are financially a lot better off without it. The main benefit of physical shopping for clothes for example was the ability to try it on before buying. With changing rooms removed and no loos either there is little appeal. 

[Thomas]

[/color]April's fall in GDP is the biggest the UK has ever seen, more than three times larger than last month and almost ten times larger than the steepest pre-covid-19 fall. In April the economy was around 25% smaller than in February.[/color][/font]
"Virtually all areas of the economy were hit, with pubs, education, health and car sales all giving the biggest contributions to this historic fall.
"Manufacturing and construction also saw significant falls, with manufacture of cars and housebuilding particularly badly affected.
"The UK's trade with the rest of the world was also badly affected by the pandemic, with large falls in both the import and export of cars, fuels, works of art and clothing."[/color]Back to table of contents[/size]2.Widespread contractions across the economy contributed to the fall in GDP in the three months to April 2020

[/size]https://www.ons.gov.uk/economy/grossdomesticproductgdp/bulletins/gdpmonthlyestimateuk/april2020#:~:text=Monthly%20gross%20domestic%20product%20(GDP,the%20series%20began%20in%201997.[/size]As said before; the double hit of NDBrexit and a possible second wave could really be a determiner of our long term future..

[/size][/font][/size][/font][/color]

So well done us.

Since most of the country is sitting at home doing not much of anything, it is amazing that anyone is producing anything.

Ha! So you made it here Like most things this will right itself its not as though we've not been through worse.

Like a bad penny Ollie, I always show up 

I don't know how to take all this info on the economy. We have been heading for some sort of recession for the last couple of years, but so far it seems to have been a fairly gentle sort of slow down.

I think you need to watch things at the end of july/ start august borkie when companies start offloading furloughed workers as the new rules for furlough kick in.

We need to get back to some sort of normality sooner rather than later , but i can't see that happening anytime soon.

There seems to be a complete disconnect in how shops, travel industry and many other sectors are going to make any money with these social distancing rules. Then when the kids go back to school part time in august , how the feck are parent supposed to cope if both work when they will have serious childcare issues?

I fear this is just the start of the bad news , but hope im wrong.

[DeppityDawg]

Sorry I didn't notice you'd already started a thread on it. Btw, I'm promoting you to General Dynamics.

Cruise Missile or Armed Vehicle section ?

No idea. All I know is that was who made the old F111s, and it seemed to fit

[johnofgwent]

It isn't as bad as the Treasury were thinking, as 30%+ was in their minds. We seriously need to get Britain back to work.

We do.

Regrettably the Welsh assembly are content to fiddle while the only things it has bringing money in have 'piss off home wales is closed' signs on them, and the twonk in the bay says he will not be rushed in his slow and steady pace no matter how loud the cries to go faster.

Here's the thing

The incubation time for Covid 19 is 15 days max.

On the last weekend of May Engkand went mad in the eyes of the Welsh assembly. They should, by now, be digging the mass graves forvthe tens of thousands of new dead.

If there are no new dead, the two k in the bay really should be taken out and put where BLM put statues.

[johnofgwent]

Sorry I didn't notice you'd already started a thread on it. Btw, I'm promoting you to General Dynamics.

Cruise Missile or Armed Vehicle section ?

[Borchester]

[/color]April's fall in GDP is the biggest the UK has ever seen, more than three times larger than last month and almost ten times larger than the steepest pre-covid-19 fall. In April the economy was around 25% smaller than in February.[/color][/font]
"Virtually all areas of the economy were hit, with pubs, education, health and car sales all giving the biggest contributions to this historic fall.
"Manufacturing and construction also saw significant falls, with manufacture of cars and housebuilding particularly badly affected.
"The UK's trade with the rest of the world was also badly affected by the pandemic, with large falls in both the import and export of cars, fuels, works of art and clothing."[/color]Back to table of contents[/size]2.Widespread contractions across the economy contributed to the fall in GDP in the three months to April 2020

[/size]https://www.ons.gov.uk/economy/grossdomesticproductgdp/bulletins/gdpmonthlyestimateuk/april2020#:~:text=Monthly%20gross%20domestic%20product%20(GDP,the%20series%20began%20in%201997.[/size]As said before; the double hit of NDBrexit and a possible second wave could really be a determiner of our long term future..

[/size][/font][/size][/font][/color]

So well done us.

Since most of the country is sitting at home doing not much of anything, it is amazing that anyone is producing anything.

Ha! So you made it here Like most things this will right itself its not as though we've not been through worse.

Like a bad penny Ollie, I always show up 

I don't know how to take all this info on the economy. We have been heading for some sort of recession for the last couple of years, but so far it seems to have been a fairly gentle sort of slow down.