United Kingdom

4077 readers

308 users here now

General community for news/discussion in the UK.

Less serious posts should go in !casualuk@feddit.uk or !andfinally@feddit.uk
More serious politics should go in !uk_politics@feddit.uk.

Try not to spam the same link to multiple feddit.uk communities.
Pick the most appropriate, and put it there.

Posts should be related to UK-centric news, and should be either a link to a reputable source, or a text post on this community.

Opinion pieces are also allowed, provided they are not misleading/misrepresented/drivel, and have proper sources.

If you think "reputable news source" needs some definition, by all means start a meta thread.

Posts should be manually submitted, not by bot. Link titles should not be editorialised.

Disappointing comments will generally be left to fester in ratio, outright horrible comments will be removed.
Message the mods if you feel something really should be removed, or if a user seems to have a pattern of awful comments.

founded 1 year ago

MODERATORS

tom@feddit.uk

GreatAlbatross@feddit.uk

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

submitted 2 months ago by Tudou@feddit.uk to c/unitedkingdom@feddit.uk

12 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.

you are viewing a single comment's thread
view the rest of the comments

[–] mannycalavera@feddit.uk 1 points 2 months ago (3 children)

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

[–] sneak100@hexbear.net 6 points 2 months ago (1 children)

None (unless we're talking about billionaires). GDP is a dogshit predictor of living standards, but gets presented as such by media pundits, who try to make the everyday person empathise with the ultra-rich

[–] mannycalavera@feddit.uk 4 points 2 months ago (1 children)

What is a good indicator if not GDP?

[–] Flyberius@hexbear.net 3 points 2 months ago* (last edited 2 months ago)

I suppose you could create one based on the average wage and the average cost of living. I'm sure something like that does exist. Buying power or disposable income or whatever.

GDP is useless because it counts things like all the money proles are forced to pay to their landlords. And the amount they fork over to energy and utility companies. It counts the hugely inflated value of property markets. It's not very indicative of how us small folk actually live.

[–] hitmyspot@aussie.zone 3 points 2 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.

[–] SubArcticTundra@lemmy.ml 2 points 2 months ago

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