Economy shrinks by 0.5%. Georgie is blaming the weather

I just cannot see that what they are doing is helping the economy or the deficit. Suppose time will tell.

The figures we've seen for the end of last year are worrying, if you take out the cold weather then we had a growth rate of 0% and stagnation according the ONS. Inflation is far too high, unemployment is also rising and the borrowing figures for November and December were eyewatering.
I think everyone expected the recovery to be choppy but the problem is many of the economic indicators ain't looking clever at the moment. Hopefully the growth will increase when the ONS revises them in the coming weeks

Nice guy, so this was deliberate and according to plan?

I think the weather must have had an effect. Gideon probably believed the socialist weather doom-mongers, the "50 days left to save the planet" global warming evangelists. He probably made the common mistake of believing them, and didn't foresee the coldest winter since records began.

Gideon?

Anyone who wanted to spend money on extra food and gifts would have found a way to do so.......If they have the money of course!

Some shops will have suffered and others, maybe local businesses will have done better.

He can't use the weather as an excuse.

Abouteve I totally agree, the phrase Loose Cannon comes to mind. It's quite scary to be frank.

Nice guy, so this was deliberate and according to plan? I don't think so. They lack vision about how their policies will affect the economy, unless they are setting out to mess things up even further. If so then they should be gotten out, asap.

Well I ordered 90% of my shopping online and it all arrived safely so I can only conclude it's confidence that is the problem not the weather.
We were also given a lot of money for presents all of which was spent on big ticket items, I'm doing my bit.

I agree with what Ed Balls said - "Don't blame the weather, Get a plan B FAST".

Nearly everybody I know planned to spend less for 2 reasons 1)they were broke already 2)they were worried about what further cuts are to come.

Every single thing I ordered got there on time even forgotten jellybeans for the stockings I ordered very last minute.

I buy a lot of toys online and all the companies I use had a very generous guaranteed deadline to order by. Not one said don't order we can't deliver.

Where I live the roads were only unroadworthy for 3 days(2 if you had a deathwish). You just re-schedule or buy something different. I spend the same amount on everybody every year, a bit of snow won't change that cuts do.

Who are these people completely snowed in for 3 months ?

Nearly everybody I know planned to spend less for 2 reasons 1)they were broke already 2)they were worried about what further cuts are to come.

As I said on the other thread it's going to get a whole lot worse it can't possibly not. The gov really seem to think their slash and burn policy will have people moaning but still spending to fund the growth they want,not going to happen.

My concern is why the gov seem so surprised. Their lack of foresight is seriously worrying.

I'm the most last minute person when it comes to Christmas shopping but must have ordered stuff on-line in good time this year as I received everything. We were hit with heavy snow twice in December but I somehow managed to spend as usual.

I will not be spending anything that isn't absolutely necessary in the next few months and reckon alot of people may feel the same. Be interesting to see what the growth figures are for the next quarter.

Perhaps they will finally realise that you can 'do' economics by just saying the same thing over and over and hoping that makes it true (eg Child benefit cuts - tough but fair....but they're not fair....they're TOUGH but FAIR).

Or perhaps that is just hoping too much.

I don't think there is any doubt that there will be a double dip recession, stronger excuses for deeper cuts too and we are all in this together bless

you can do the same thing over and over again and expect different results if ' the same thing' is done under different circunstances/conditions , I would guess, plently of factors can affect outcome

lol @ Einstein

If the next quarter shows contraction, then we're back in recession. Perhaps then Gideon might listen....

...but probably not.

"If they cannot get out they will shop online."

I know that December is a long time ago but don't you remember the major problems caused by the backlog of parcels and gifts not arriving in time for Christmas? Many were cancelled or returned. Many didn't even bother ordering. And supermarket online orders couldn't get through either.

snorted on my tea at 'Einstein's definition of insanity is doing the same thing over and over again and expecting different results..' How true!

well to be fair, as much as I dislike him, the weather was a big factor not to mention all the illnesses about, it certainly affected my spending

It was before Christmas one of the busiest in the retail calender. People will buy under normal circumstances whatever they weather. If they cannot get out they will shop online.

Cannot remember his name but an outgoing business leader said just yesterday that this government lack vision. Basically they are cutting this and that for ideological reasons and they haven't a clue what they are doing. It doesn't need an expert to tell us this.

This really is a storm in a teacup.

We're talking about the UK economy. One of the largest in the world. As such its complex. We've got one set of unexpected figures of 0.5% (0% if you exclude the weather) over 3 months and people are using it to claim the cuts are all wrong.

The only thing which matter is the long term trend, not a one off set of figures. If the next one is bad....and the one after that. Then perhaps that will be more proof.

To be frank, given the cuts and uncertainty in the air right now, I'm surprised it was 0% at all.

I always thought the prospect of a double dip recession was likely no matter who was in charge or what came out of the poltician's mouths. You can't slash public spending by over 25% and not expect a short term blip.

The weather is 'partly' to blame as people couldn't get out to waste their money!