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Comforting data ahead of the budget

2010-03-23T14:24:00Z

As the Chancellor Alistair Darling puts his final touches to the Budget he will be relieved by the recent spate of comforting data.Last Wednesday we had employment statistics showing that the unemployment was falling.On Thursday the figures on public finances were far healthier than expected, with the Institute for Fiscal ...

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Prepare for a double dip in construction growth 鈥� the implication of today鈥檚 GDP figures

2010-02-26T10:26:00Z

The UK is coming out faster from recession than we thought. But the hole was deeper.That seems to be the message from the statisticians鈥� latest stab at the nation鈥檚 output.The increase in fourth quarter GPD was revised upward from 0.1% to 0.3%, which will cheer many not least the Chancellor.But ...

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Mum: Are we out of recession yet?

2010-01-27T18:28:00Z

You could feel the uneasiness among economists yesterday when the release of official statistics showed that the UK had just scraped enough oomph together in the final quarter of last year to stage a lacklustre return to growth.Most economists had expected the no-growth bar to be cleared by some margin. ...

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Does the whole GDP debate really rest on dodgy construction output figures?

2009-12-22T11:56:00Z

It has long been said that construction is an important bellwether in determining the shape of the nation鈥檚 economic progress.Today the performance of construction, or rather revisions to its measured performance, seemingly determined how close the UK is to recovery.The upwardly revised construction data put the nation yet closer to ...

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And the slump goes on 鈥�

2009-07-27T12:12:00Z

The UK economy shrank by another 0.8% in the second quarter, according to preliminary figures. While the drop was markedly slower than the 2.4% decline in the first quarter of this year, it was still a much sharper contraction than many analysts had hoped for. It also marked the fifth ...

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Little respite from the worse recession on record

2009-07-07T11:38:00Z

Despite all the talk of 鈥済reen shoots鈥� over the last few months, it was apparent that this recession was going to be harsh from the offset and our forecasts for the industry over past year have suggested this. This week sees the release of our latest forecasts and it makes ...

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Recovery soon for construction?

2009-04-20T14:45:00Z

The torrent of economic good news gushing from economists and think tanks is almost overwhelming.Hell's teeth it is a boost to confidence. But does this mean that the recovery is in sight for construction?David Miles, the new member of the Bank of England's Monetary Policy Committee recently told the Western ...