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UK economy continues recovery with 0.6% growth (www.bbc.com)

submitted 3 months ago by [email protected] to c/[email protected]

10 comments fedilink hide all child comments

The UK's economy grew by 0.6% between April and June as it continued its recovery from the recession at the end of last year.

The latest figure was in line with forecasts and follows a 0.7% increase in the first three months of this year.

Growth was led by the services sector, in particular the IT industry, legal services and scientific research. Services are the biggest contributor to the UK's economy, far outstripping manufacturing and construction, both of which saw output fall between April and June.

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[–] [email protected] 17 points 3 months ago (1 children)

I mean if everyday things like food and rent are still too expensive then it's not really recovering. I don't really see how the pursuit of endless growth can possibly be good for regular people.

[–] [email protected] 4 points 3 months ago

Exactly this, wake me up when the cost of living increases stop greatly outpacing wages.

[+] [email protected] 8 points 3 months ago* (last edited 6 days ago) (1 children)

[deleted]

[–] [email protected] 1 points 3 months ago (3 children)

Out of interest, what GDP increase figures would lead to an increase in living standards?🤔

[–] [email protected] 3 points 3 months ago

Wage rises in excess of cpi, generally. Gdp increases can be meaningless on an individual basis. For instance, Australia has had years of gdp rises, which are just due to increased population size. The average person has less money as population rising faster than gdp. It’s a per capita recession, but not a technical recession.

[–] [email protected] 2 points 3 months ago

I imagine it would only be relevant if the average person owned index stocks

[–] [email protected] 6 points 3 months ago (1 children)

I want to know why the government still isn’t bringing out the big guns like Mr Blobby to inspire the nation back into prosperity.

[–] [email protected] 6 points 3 months ago

You may have missed it. But Bojo is no longer an MP. So no one to wear the suit.

[–] [email protected] 2 points 3 months ago

Wow, with this impressive growth we will be recovered by only 2300!