Jim Hamilton sends us to John Cochrane, who makes a number of good points. Cochrane agrees with the conventional wisdom that it was not any fundamental change or news about preferences, technologies, or the risks of undertaking production and hiring wo…
Bank may echo US warnings over future rise in ratesThe Bank of England is poised to follow the US by warning high street banks of the new risks they face from future rises in interest rates and the current upheaval in the bond markets.Deputy Bank of England governor Paul Tucker has admitted that UK authorities [...]
So far this week, we’ve continued a string of good news following last week’s focus on banking reform. More specifically reports on consumer confidence and the housing market confirm the worst of the recession’s detriments are now behind us.
The days of banking self-rule are over – Davos policymakers must make tough choices on regulation and rewardsThe mood in Davos is more cheerful this year. That’s hardly a surprise since the world economy was having a near-death experience a year ago. Industrial production was collapsing and world trade contracting at rates similar to those [...]
• 20% drop in value of sterling fails to deliver export-led growth • IMF expects the global economy to grow by 4% this yearWhen it finally happened it was with the feeblest of whimpers rather than a bang. The economy ended six straight quarters of decline by growing in the final three months of 2009. [...]
Britain’s out of recession at last: fourth-quarter growth of a stunning 0.1% (unless it is revised down). Predictably, there aren’t many cheers, particularly among the right-wing bloggers. Britain, Paul Staines points out in an amusing vide…
• Interactive: The road to recovery• Vote: how long will recovery take?• Recession quiz: test your knowledge• Reaction: what the experts sayBritain’s economy finally clawed its way out of its deepest recession since the 1930s in the fourth quarter of 2009, but it only managed to expand by a much weaker-than-expected 0.1%.The keenly awaited figure [...]
The real estate market seems to be on the road to recovery, albeit at a slow pace. Despite a December slump, sales of previously occupied homes rose in 2009 for the first time in four years. While signs of improvement are clear, the market has not been…
The economic growth numbers again highlight the divergence between official data and forward-looking survey dataSo we are out of recession. Phew! But only just. A growth figure of 0.1% is about as pathetic as it gets.Sure, it might be revised up in the next couple of months to 0.2% or even 0.3% but that is [...]
The UK has finally exited recession, but figures showed that growth was just 0.1% last quarter and experts don’t see a strong recovery this yearVince Cable, Liberal Democrat Treasury spokesman “The markets will be surprised that growth has been markedly slower than expected. Far from the quick recovery the chancellor has been praying for, the [...]