Are we heading into a major recession?

[bodychanges]

Things are already tough in my industry - I’m a contractor and this past year is my worst in over two decades - but should I be expecting things to get worse not better?

and I sound stupid, but what are the main economic indicators?

I’m not a brexiteer or a Tory. It is possible to criticise a political party simply because you think they are doing a bad job. Just imagine how much the economy could have grown with a better budget. Even Rachel Reeves isn’t pretending 0.1% is anything to be happy about.

-.01>0.1>1>5>10

is how numbers work. If you would rather it was -0.2% than 0.1% just say.

You sound nice.
Has your life been significantly improved since labour came to power? Please explain.
Unless you're a train driver? Or a bee?

@SerendipityJane I'd rather first quarter 2024 0.7

How about you? Was it too much growth and 0.1 feels more comfortable

@SerendipityJane hah no answer

Yeh it is pretty shit.

Thank you for asking.

My quality of life improved the moment the junior doctors strike ended. I was finally able to have the operation I'd been needing for the past 2 years and am now back at work and actually able to increase my hours to full time as I feel so much better.

I'm also quite excited about the housing promises as the situation here has been desperate for a long time.

And yes more growth would be nice, but only if the population as a whole benefit from it. Growing the profits of big corporations whilst having to top up workers salaries from the public purse just so they can survive doesn't seem that great to me.

And yes more growth would be nice, but only if the population as a whole benefit from it.

Indeed. 0.1% across 60 million is better than 500% across 6,000

Pensions are a benefit. Those that don't need it shouldn't get it. End of. They're fine with means testing it in Oz. Its only here all the greedy people want to literally take money from schools, health care etc and pocket it. Unless we have a fundamental shift in attitude and actually give a shit about the young. Nothing will change. They don't want to work for a measly 30k....you can't do shit with that nowadays.

Do you work in the public sector?

GDP per head has fallen

My point being, we have low productivity and the cause is that a "normal life" has become impossible even for a full time worker. Causes, housing and an aging population. Rachel Reeves has made it worse with NI...just means even lower wages, less jobs.
We need ford economics...more money in the everyday man's pocket. Housing has destroyed the average persons disposable income.
Fix this first!!

The causes of your problem are housing and the related aging ( because care homes cost )

Yet the solution to raise money to pay for those is unacceptable?

As is every solution except "big business " which are the one supposedly laying off in response to the NI increase

As long as housing is a commodity, there is no fix. Simple market forces.

More housing means rents and house prices go down. And that cannot happen. It would be the same whoever was in power. As 2010-2024 showed.

I’m actually pretty well read on the news, thanks. Which nation was just forecasted to be the fastest growing economy in Europe again?

can we get real? Every time these posts appear on MN they come with minimal information and sources and are based mainly on vibes. Quoting the Daily Mail, owned by notorious tax dodgers angry at the notion tax the rich, is not a flex.

im not a die hard Labour fan but people need to see these posts for what they are

No. Do you?

@BanditTheCat you've missed the December CBI press release and S&P report. These are not 'vibes' but actual job losses.

You also missed the halving by BoE forecast of growth from 1.5 to 0.75 also no 'DM vibe'

Also the decline in living standards as @TheNuthatch pp

If you want to 'get real' as stated best to look at economic indicators

But the economy grew, inflation has - as recently reported - decreased, and the UK is forecast to be the fastest growing economy in Europe.

I’m sorry to hear about redundancies but you need to look at the bigger picture, and one of the biggest reasons organisations are making redundancies is they don’t want to reduce their profit. They want to increase profit for their shareholders, rather than earn less profit.

Tjis government are quietly getting on with sorting out 14 years of crap. Remember Dido Harding and the billions she spunked up the wall on the track and trace app that never materialised? Consultants were paid £1000 a day for their work on that. Where did that money go? Michelle Mone and £230mil, just one of the many people who ran riot with taxpayer money. All the while public service cuts. And you think that Labour finally trying to close tax loopholes for big organisations are the bad guys?? Wakey wakey

@Porcuporpoise which sector are you in?

See my most recent post. You think a decline in living standards is a result of a government that’s been in power for 6 months? You know that’s not accurate, come on

@BanditTheCat your pp doesn't cover the revised forecast for growth

And yes the GDP per capita measure is a recent one

You're not following the indicators but they are there.

What political party do you think would do a better job right now?

@BanditTheCat

"I'm sorry to hear about redundancies but you need to look at the bigger picture"

That's your response to 20 people losing their jobs! Wow

Sorry if I wasn’t detailed enough for you!

Surely, taking your hyperbolic metaphor forward, the problem with this government is that it has deliberately knocked over the trough...so now no one is better off, and the population as a whole is worse off because the source of food is spoilt until somone rights it and refills it ;)