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By (user no longer on site)
over a year ago
|
"
Despite Brexit...
And surprisingly beating Bank of England "expectations".
Woohoo, down 0.3 in March up 0.2 in April 
I love the way you think, I feel blessed. "
Thanks |
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By *otMe66Man
over a year ago
Terra Firma |
"
Despite Brexit...
And surprisingly beating Bank of England "expectations".
Woohoo, down 0.3 in March up 0.2 in April
I love the way you think, I feel blessed.
Thanks "
You are very welcome |
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By *eroy1000Man
over a year ago
milton keynes |
"
Despite Brexit...
And surprisingly beating Bank of England "expectations"."
Good that its going in the right direction. I was a little surprised when reading that spending in bars and hospitality were driving factors. To me with the squeeze on income, cost of living ect I would have thought these areas would take a hit as they are mostly luxury spending. Perhaps that will be more impacted when lots of fixed rate deals end. Anyway good news again |
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By *irldnCouple
over a year ago
Brighton |
"
Despite Brexit...
And surprisingly beating Bank of England "expectations".
Good that its going in the right direction. I was a little surprised when reading that spending in bars and hospitality were driving factors. To me with the squeeze on income, cost of living ect I would have thought these areas would take a hit as they are mostly luxury spending. Perhaps that will be more impacted when lots of fixed rate deals end. Anyway good news again"
Hmmm yes. Me and NotMe (see what I did there  ) touched on that in another thread few days back. I know I am pretty well insulated/protected from the price rises and I live in an affluent area, but the bars and restaurants are packed. You need to boom a table at least a week ahead around here! |
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By *eroy1000Man
over a year ago
milton keynes |
"
Despite Brexit...
And surprisingly beating Bank of England "expectations".
Good that its going in the right direction. I was a little surprised when reading that spending in bars and hospitality were driving factors. To me with the squeeze on income, cost of living ect I would have thought these areas would take a hit as they are mostly luxury spending. Perhaps that will be more impacted when lots of fixed rate deals end. Anyway good news again
Hmmm yes. Me and NotMe (see what I did there ) touched on that in another thread few days back. I know I am pretty well insulated/protected from the price rises and I live in an affluent area, but the bars and restaurants are packed. You need to boom a table at least a week ahead around here!"
MK bars and hotels are very similar but surprised me as I class such spending as a luxury and at the same time we have the cost of living thing ect. One possible thing is what I read today about interest rises. Apparently in the early 2000's 7 out of 10 mortgages were a tracker deal meaning interest rate rises from the BOE were past on pretty quickly and had a pretty quick impact on spending. Now only 15% are trackers with the rest being fixed for a term. This may mean the actions taken by the BOE take longer to have an effect than previously happened. I guess over a few years it will be similar |
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By *irldnCouple
over a year ago
Brighton |
"
Despite Brexit...
And surprisingly beating Bank of England "expectations".
Good that its going in the right direction. I was a little surprised when reading that spending in bars and hospitality were driving factors. To me with the squeeze on income, cost of living ect I would have thought these areas would take a hit as they are mostly luxury spending. Perhaps that will be more impacted when lots of fixed rate deals end. Anyway good news again
Hmmm yes. Me and NotMe (see what I did there ) touched on that in another thread few days back. I know I am pretty well insulated/protected from the price rises and I live in an affluent area, but the bars and restaurants are packed. You need to boom a table at least a week ahead around here!
MK bars and hotels are very similar but surprised me as I class such spending as a luxury and at the same time we have the cost of living thing ect. One possible thing is what I read today about interest rises. Apparently in the early 2000's 7 out of 10 mortgages were a tracker deal meaning interest rate rises from the BOE were past on pretty quickly and had a pretty quick impact on spending. Now only 15% are trackers with the rest being fixed for a term. This may mean the actions taken by the BOE take longer to have an effect than previously happened. I guess over a few years it will be similar"
Good point. A delayed impact due to fixed rates. |
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By *otMe66Man
over a year ago
Terra Firma |
"
Despite Brexit...
And surprisingly beating Bank of England "expectations".
Good that its going in the right direction. I was a little surprised when reading that spending in bars and hospitality were driving factors. To me with the squeeze on income, cost of living ect I would have thought these areas would take a hit as they are mostly luxury spending. Perhaps that will be more impacted when lots of fixed rate deals end. Anyway good news again
Hmmm yes. Me and NotMe (see what I did there ) touched on that in another thread few days back. I know I am pretty well insulated/protected from the price rises and I live in an affluent area, but the bars and restaurants are packed. You need to boom a table at least a week ahead around here!
MK bars and hotels are very similar but surprised me as I class such spending as a luxury and at the same time we have the cost of living thing ect. One possible thing is what I read today about interest rises. Apparently in the early 2000's 7 out of 10 mortgages were a tracker deal meaning interest rate rises from the BOE were past on pretty quickly and had a pretty quick impact on spending. Now only 15% are trackers with the rest being fixed for a term. This may mean the actions taken by the BOE take longer to have an effect than previously happened. I guess over a few years it will be similar"
I remember some years back talking about this very thing, luxury items not being feeling the effect of a recession. The answer is right under our noses, luxury items are only ever purchased by those that can afford them. The deeper the recession the lower end and medium tier start to fall way leaving only top end luxury purchases such as high end cars, watches etc, those people who purchase them are immune to recession.
High end luxury items are recession proof. |
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By (user no longer on site) OP
over a year ago
|
"
Despite Brexit...
And surprisingly beating Bank of England "expectations".
Good that its going in the right direction. I was a little surprised when reading that spending in bars and hospitality were driving factors. To me with the squeeze on income, cost of living ect I would have thought these areas would take a hit as they are mostly luxury spending. Perhaps that will be more impacted when lots of fixed rate deals end. Anyway good news again
Hmmm yes. Me and NotMe (see what I did there ) touched on that in another thread few days back. I know I am pretty well insulated/protected from the price rises and I live in an affluent area, but the bars and restaurants are packed. You need to boom a table at least a week ahead around here!
MK bars and hotels are very similar but surprised me as I class such spending as a luxury and at the same time we have the cost of living thing ect. One possible thing is what I read today about interest rises. Apparently in the early 2000's 7 out of 10 mortgages were a tracker deal meaning interest rate rises from the BOE were past on pretty quickly and had a pretty quick impact on spending. Now only 15% are trackers with the rest being fixed for a term. This may mean the actions taken by the BOE take longer to have an effect than previously happened. I guess over a few years it will be similar
I remember some years back talking about this very thing, luxury items not being feeling the effect of a recession. The answer is right under our noses, luxury items are only ever purchased by those that can afford them. The deeper the recession the lower end and medium tier start to fall way leaving only top end luxury purchases such as high end cars, watches etc, those people who purchase them are immune to recession.
High end luxury items are recession proof. "
This is true, but bars and restaurants have historically weathered recessions pretty well. People can't just sit at home being miserable. And a few beers out or a meal are pretty small items compared to holidays and cars etc. |
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"So GDP is up but can it grow for ever. Surly with a limited planet, limited water and space it cannot grow for ever."
It can theoretically grow forever.
If I buy a small lump of gold from a gold merchant it'll cost me £200. If I beat that gold very very flat, I've made gold leaf and I can sell it for £500. If I instead melt it down and make it into a ring, it's worth £1000. And if I carve a pretty design into it, it'll go for £1500.
Increasing GDP isn't about selling more stuff, it's about making stuff more valuable. As long as we can keep thinking of ways to improve things, we can keep the economy growing. |
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