IMF says Britain will be fastest growing economy in the G7

[-:Undertaker:-]

http://order-order.com/2016/10/04/imf-left-red-faced-after-brexit-bounce/
http://www.telegraph.co.uk/business/2016/10/04/imf-rows-back-on-brexit-warnings-as-uk-poised-to-become-fastest/

IMF rows back on Brexit warnings as UK poised to become fastest growing G7 economy


http://www.telegraph.co.uk/content/dam/business/2016/10/04/unnamed-large_trans++qVzuuqpFlyLIwiB6NTmJwfSVWeZ_vEN7c6bHu 2jJnT8.png
The Fund expects the UK economy to grow by 1.8pc in 2016. This is slightly higher than its forecast of 1.7pc in July, and puts the country on course to be the fastest growing G7 economy this year.


The IMF, which claimed before the referendum that a Leave vote would cause a recession, have revised their forecasts to now predict Britain will be the fastest growing economy in the G7 this year. Before the referendum IMF chief Christine Lagarde also warned share prices would crash. Today the FTSE 100 rose above its all-time closing high, at one point trading at 7,104.

The UK will be the fastest growing major economy this year, according to the International Monetary Fund, as it rowed back on predictions that a vote to leave the European Union could plunge the country into recession and trigger a stock market crash.

Action taken by the Bank of England following the Brexit vote, including cutting interest rates and freeing up more cash for banks to lend had helped to "maintain confidence" in the economy, the IMF said in its latest World Economic Outlook.

The Fund expects the UK economy to grow by 1.8pc in 2016. This is slightly higher than its forecast of 1.7pc in July, and puts the country on course to be the fastest growing G7 economy this year.

It kept its forecast for global growth unchanged at 3.1pc, which represents the slowest pace of growth since the financial crisis.

In any other profession, such a lie forecast would have you sacked and your companies reputation in tatters for getting it so wrong. Yet the clowns experts in the IMF, OECD etc get away with it.

Good news but not surprised. Because, despite not being an expert, it was clear as day nothing would happen.

Thoughts?

[dbgtz]

Aren't you usually one to not care what the IMF says?

[scottish]

Aren't you usually one to not care what the IMF says?

Unless it looks good for brexit then they're the best news source.

[-:Undertaker:-]

dbgtz;
scottish;

I don't hence why i'm pointing out how useless they are. One minute the world was going to end, next we're top of the pack.

[AgnesIO]

Meanwhile, our currency continues to plummet; terrible news for any imports and everyone overseas withdrawing their pounds.

Oh, isn't Brexit just brilliant :rolleyes:

[FlyingJesus]

In any other profession, such a lie forecast would have you sacked and your companies reputation in tatters for getting it so wrong.

idk about that what about the met office :P am still waiting for a storm that was supposed to hit in July

[-:Undertaker:-]

Meanwhile, our currency continues to plummet; terrible news for any imports and everyone overseas withdrawing their pounds.

But great for our exports and people working and producing things here in Britain.


Oh, isn't Brexit just brilliant :rolleyes:

ye

783331947930148864


idk about that what about the met office :P am still waiting for a storm that was supposed to hit in July

MetOffice lost any dignity years ago! OECD is another one with egg on their face.

Useless the lot of them. :P

[scottish]

We import a hell of a lot more than we export, so no.

[-:Undertaker:-]

We import a hell of a lot more than we export, so no.

Yes but to close that gap if it helps our exports grow then that's a good thing.

Got to remember too our imports as they currently are are way overpriced. Inside the EU we're subject to their Customs Union which places tariffs on non-EU stuff such as food from African nations and New Zealand: we pay something like 30% more than we should for meats because the French use the EU to use Europe as their 'captive market'. That'll change on leaving.

Remainers need to stop wishing the country to do badly in order to be proved right and admit their predictions were way off.

[AgnesIO]

Yes but to close that gap if it helps our exports grow then that's a good thing.

Got to remember too our imports as they currently are are way overpriced. Inside the EU we're subject to their Customs Union which places tariffs on non-EU stuff such as food from African nations and New Zealand: we pay something like 30% more than we should for meats because the French use the EU to use Europe as their 'captive market'. That'll change on leaving.

Remainers need to stop wishing the country to do badly in order to be proved right and admit their predictions were way off.

"Way over priced". Made in China, Made in India, Made in Bangladesh - yeah, don't think our imports are too expensive as it is.. cheaper is always good, of course.

Pound saw a further fall today, but just remember guys IT IS TOTALLY GOOD NEWS!!! :rolleyes: