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Meanwhile, the IMF says we'll be the only G7 nation to see their economy shrink this year.So. Swings and lawnmowers, eh?
Its not news to anyone that the IMF have political issues with the UK and will always forecast it in a bad light , only to revise their figures every quarter.Some would say that after all the items you have listed going in the wrong direction for us the figures should be far worse. To forecast growth of around 1% for some leading economies is also bad.Will be interesting to see the next quarters data for all concerned, im envisaging some revisions for all.
Quote from: danumdon on January 31, 2023, 09:13:28 pmIts not news to anyone that the IMF have political issues with the UK and will always forecast it in a bad light , only to revise their figures every quarter.Some would say that after all the items you have listed going in the wrong direction for us the figures should be far worse. To forecast growth of around 1% for some leading economies is also bad.Will be interesting to see the next quarters data for all concerned, im envisaging some revisions for all.Why, what decisions is this government making for you to think the figure for the UK will be revised upwards?
That says that the data the IMF based its prediction on was from before Truss tanked the economy - meaning that the prediction is better than it would have been now.
Quote from: danumdon on January 31, 2023, 09:13:28 pmIts not news to anyone that the IMF have political issues with the UK and will always forecast it in a bad light , only to revise their figures every quarter.Some would say that after all the items you have listed going in the wrong direction for us the figures should be far worse. To forecast growth of around 1% for some leading economies is also bad.Will be interesting to see the next quarters data for all concerned, im envisaging some revisions for all.Let me get this right, because I know you pride yourself on balance.Are you saying the IMF goes out of its way to give negative predictions for the UK?
Quote from: BillyStubbsTears on January 31, 2023, 10:50:25 pmQuote from: danumdon on January 31, 2023, 09:13:28 pmIts not news to anyone that the IMF have political issues with the UK and will always forecast it in a bad light , only to revise their figures every quarter.Some would say that after all the items you have listed going in the wrong direction for us the figures should be far worse. To forecast growth of around 1% for some leading economies is also bad.Will be interesting to see the next quarters data for all concerned, im envisaging some revisions for all.Let me get this right, because I know you pride yourself on balance.Are you saying the IMF goes out of its way to give negative predictions for the UK?NO you got it wrong, that's not what i said, do you need to read it again.
Quote from: wilts rover on January 31, 2023, 10:17:07 pmQuote from: danumdon on January 31, 2023, 09:13:28 pmIts not news to anyone that the IMF have political issues with the UK and will always forecast it in a bad light , only to revise their figures every quarter.Some would say that after all the items you have listed going in the wrong direction for us the figures should be far worse. To forecast growth of around 1% for some leading economies is also bad.Will be interesting to see the next quarters data for all concerned, im envisaging some revisions for all.Why, what decisions is this government making for you to think the figure for the UK will be revised upwards?Quote from the FT. according to the IMF themselves.
I am confused about the IMF. Obviously it had nothing but bad things to say about Truss and Kwarteng’s proposed tax cuts but then say this:“The IMF said the downgrade reflected higher taxes and interest rates, a government spending squeeze and “financial conditions and still-high energy retail prices” that will “weigh on household budgets”.”https://www.telegraph.co.uk/business/2023/01/31/hunts-tax-raid-means-uk-will-major-economy-shrink-year-says/
...Brexit Benefits list?They've spotted one in the wild.https://mobile.twitter.com/AlexTaylorNews/status/1620343142364106752Well done lads.
Quote from: ncRover on February 01, 2023, 08:26:51 amI am confused about the IMF. Obviously it had nothing but bad things to say about Truss and Kwarteng’s proposed tax cuts but then say this:“The IMF said the downgrade reflected higher taxes and interest rates, a government spending squeeze and “financial conditions and still-high energy retail prices” that will “weigh on household budgets”.”https://www.telegraph.co.uk/business/2023/01/31/hunts-tax-raid-means-uk-will-major-economy-shrink-year-says/They update their projections as more data comes in.In our case, the consequences of the Truss/Kwarteng clusterf**k are still working through the economy, not least in higher than expected interest rates which depress economic activity.
And another thread spirals down BRR's plughole.