Friday, June 12, 2009
UK economy edges out of recession?
well its not me saying that.Its the Bank of England policy maker Andrew Sentance saying with a big gloat on his face. Frankly, i would not have known that, had I not been watching this wonderfull programme on CNN. just to set a background for the UK economy,IMF had previously quite confidently said that they think that the UK economy would not suffer from the global recession but then again, had they ever been right in any of their predictions? Later,when the UK economy suffered the full brunt of the global recession,the IMF shouted at the top of their voices that the UK would continue to suffer through 2010 when other economies would be recovering (so much for their credibility!!).the UK economy shrunk at a rate a shade higher than 3% giving japan plenty of competition in economy shrinkage but the good news is that the UK economy is showing positive signs,house prices are rising do is consumer's confidence and you know here comes the funny part,they even measured the green shoot index (green shoot refers to signs of positive changes in the economy).Indexing it means that to check how many times the term was used in newspapers and other journals (talk about being overly dramatic!!) and you know what, the usage of term, minimal in 2008 showed a small increase in first quarter of 2009 and peaked in may/ june 2009.Although there is hardly any evidence linking a term usage and the phenomena happening( how do we know they are not grumbling in newspapers that they can not see any green shoots appearing) but lets give the brits the benefit of doubt,shall we?
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I do hope the UK gets out of recession.In fact,I would like the whole world to be out of recession.Your post was very encouraging, thanks
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