As predicted here after wandering the West End last month and seeing millions of high spending tourists... the economy is improving. Nothing to do with the Government whose trivial changes are typical political social fiddling... no, the world economy is getting better and add in the huge boosts from our Olympics (a triumph for both Labour and Coalition in principle but actually down to non political individuals); the Queen's Jubilee celebrations, the weather...

By the end of the year we'll all be back in the black.

Now let's see interest rates rise please.

A quick overview on three key sectors:-


Services: This spans everything from hotels to haircuts and is performing roughly as it was five years ago - 2008.

Construction: Now makes up 6% of the economy - but levels are 16% down on 2008.

Manufacturing: 10% below 2008 figures and now representing only 10% of the economy.


Sadly therefore, there is nothing to suggest that the UK economy is improving - although I would agree that a stroll around the West End suggests otherwise.

JK2006 wrote:
add in the huge boosts from our Olympics (a triumph for both Labour and Coalition in principle but actually down to non political individuals); the Queen's Jubilee celebrations, the weather...

... like all those shops (in the West End) that reported a decline in sales during the Olympics, Jubilee etc ?

The REAL reason is that wages are being kept down, Britain is worth visiting again (and financially affordable), there ARE hotel rooms (at good rates), ticket prices have been "held" or reduced, and if you book now when the time comes to travel Britain will not have gone bankrupt (like Greece, Portugal, Spain etc) etc etc

Its even getting better in France with 0.5% growth, higher than the uk. Maybe this means that the 75% high tax rate is working. Maybe they aren't all going to leave the country, if you put the tax up. Most of the truly rich wouldn't be affected anyway as they are not salaried.

If the UK economy is improving, its at a snail's pace

Many serious negative factors may well slow this pace even further

Such as the 5.5% decrease in average hourly wages since 2010

This allows for inflation and - in the 27 EU nations - is beaten only by the Netherlands, Greece and Portugal

Accordingly, in real/cash terms, we are worse off under the Tories


But there will be jam tomorrow....

Ahem......OK, it might feel nice, and its more positive than things have been for the last 5 years, but just for the humorous sake of balance........

....its the start of the next boom before the next bust

(i'd also like more than 1.9% on a 'tax free' ISA please, we need more like 4% to keep up with inflation)

In my line of freelance work, generally July and August are 'dead' and I tend to take a few weeks off at a time, having obviously made enough over the 44 weeks or so to do so.

This year, I've managed just 4 days off (last week) as it's been manic throughout - and looks to get busier as we get into September.

I also note that some of my friends in the antiques sector are also having a fantastic summer!

steveimp wrote:


obviously made enough

I've managed just 4 days off

it's been manic

looks to get busier

having a fantastic summer


You're not in the UK then.

In The Know wrote:
JK2006 wrote:
add in the huge boosts from our Olympics (a triumph for both Labour and Coalition in principle but actually down to non political individuals); the Queen's Jubilee celebrations, the weather...

... like all those shops (in the West End) that reported a decline in sales during the Olympics, Jubilee etc ?

The REAL reason is that wages are being kept down, Britain is worth visiting again (and financially affordable), there ARE hotel rooms (at good rates), ticket prices have been "held" or reduced, and if you book now when the time comes to travel Britain will not have gone bankrupt (like Greece, Portugal, Spain etc) etc etc

there you are you peasants...grab those poverty wages so tourists can live the high life !!

when I re-visit London I always think it's going gangbusters because of the crowds. But it's frighteningly expensive. I like cheap places now because you get a mix of people.

It's all cyclical and psychosomatic. It always seems to me that when the media talk about the UK going into recession, we all decide not to go out and buy that new car or TV set just yet or put that loft conversion on hold which all leads to the economy shrinkage. Now they are talking about recovery we are all going to buy those lovely things we have denied ourselves. Normally with money that we don't have which isn't a bad thing in a way. If everyone waited until they had the money to afford things the economy wouldn't move for decades. So the cycle starts again.

Foz wrote:
It's all cyclical and psychosomatic. It always seems to me that when the media talk about the UK going into recession, we all decide not to go out and buy that new car or TV set just yet or put that loft conversion on hold which all leads to the economy shrinkage. Now they are talking about recovery we are all going to buy those lovely things we have denied ourselves. Normally with money that we don't have which isn't a bad thing in a way. If everyone waited until they had the money to afford things the economy wouldn't move for decades. So the cycle starts again.

welcome to unbridled capitalism.

it works fine when it's strictly controlled.

hedda wrote:
there you are you peasants...grab those poverty wages so tourists can live the high life !!

... or to be more precise .... keep prices reasonable (without inflated and costly wage rises) and we earn more from tourism AND you get to keep your job !!

Ben 12 wrote:
steveimp wrote:


obviously made enough

I've managed just 4 days off

it's been manic

looks to get busier

having a fantastic summer


You're not in the UK then.





Bloody am.

Don't believe what the BBC or the tabloids tell you.

Spot on Steve; one of the frightening aspects of modern life is that you can actually get a truer reflection of life walking the streets than you can from our lazy, incompetent, useless media.

It's one reason why ghastly social networks have a good side to them (as everything does).