Britain's Economy grows by 0.5% in Q3 & Nissan announce new Sunderland car plant

[-:Undertaker:-]

http://www.bbc.co.uk/news/business-37786467

Britain's Economy grows by 0.5% in Q3 exceeding expectations

UK economy grew 0.5% in Q3 -- v Treasury forecast during referendum that it would fall by 0.1% and herald recession.

— Andrew Neil (@afneil) October 27, 2016

The UK economy grew faster than expected in the three months after the Brexit vote, official figures indicate, helped by strong service sector growth.

The economy expanded by 0.5% in the July-to-September period, according to the Office for National Statistics.

That was slower than the 0.7% rate in the previous quarter, but stronger than analysts' estimates of about 0.3%.

"There is little evidence of a pronounced effect in the immediate aftermath of the vote," the ONS said.

Welcoming the figures, the Chancellor of the Exchequer, Phillip Hammond said: "The fundamentals of the UK economy are strong and today's data show that the economy is resilient."

The economy was boosted by a strong performance from the services sector, which grew by 0.8% in the quarter.

Nissan announce new Sunderland car plant expansion

Nissan Motor Company Ltd. today announced, following its Executive Committee meeting, that it will produce the next Qashqai and will add production of the next X-Trail model at its Sunderland, U.K. Plant.

Nissan’s decision follows the U.K. government’s commitment to ensure that the Sunderland plant remains competitive. As a result, Nissan will increase its investment in Sunderland, securing and sustaining the jobs of more than 7,000 workers at the plant.

“I am pleased to announce that Nissan will continue to invest in Sunderland. Our employees there continue to make the plant a globally competitive powerhouse, producing high-quality, high-value products every day,” said Carlos Ghosn, Chairman and CEO of Nissan.

“The support and assurances of the U.K. government enabled us to decide that the next-generation Qashqai and X-Trail will be produced at Sunderland. I welcome British Prime Minister Theresa May’s commitment to the automotive industry in Britain and to the development of an overall industrial strategy.”

Nissan’s Sunderland plant opened in 1986 and has produced almost 9 million cars since. One in three British cars are produced in Sunderland, which is the UK’s largest car plant of all time. In addition, 80% of production from Sunderland is exported to over 130 international markets. More than 2 million Qashqai’s have been built in Sunderland in less than 10 years. In addition to the 7,000 direct employees at Sunderland, the plant supports a further 28,000 British automotive supply chain jobs. To date, Nissan has invested more than £3.7 billion in Sunderland.

I think it says it all really, doesn't it? Good news all round.

As Michael Gove MP said: we've had enough of experts. A coin-toss would be more accurate.

Well done to those of us on here and around the country who used brains & common sense than believing habitual liars.

Thoughts?

[AgnesIO]

Better than the 0.3% prediction, still lower than the 0.7% growth in the previous quarter.

Good news re; Nissan.

Still waiting for the currency to regain value, mind you...

[dbgtz]

Not good news re: Nissan since it looks like they're going to be subsidised to some degree and aren't sticking here simply because. We also haven't actually left yet.

I also can't believe you seriously quoted the most stupid thing said during the whole campaign by the most stupid man in politics. I just realised by him saying that, he basically admits he's not an expert and is unqualified.

[-:Undertaker:-]

Not good news re: Nissan since it looks like they're going to be subsidised to some degree and aren't sticking here simply because. We also haven't actually left yet.

Only someone who voted Remain could look on Nissan expanding and creating thousands of jobs here as a bad thing. Prior to the referendum, all we got was numerous warnings from Nissan and the other car companies telling us they would leave if the public returned with the 'wrong' result. I replied that they said the same thing when the Euro was launched and they were talking bs. "Oooh yes but how do you know this time they're not bluffing it's just not worth da RISK" came the response.

Well.... turns out they were bluffing as I said. Car companies are here because of a skilled workforce and healthy market. Not the EU. The icing on the cake with this too is that Sunderland was one of the strongest Leave votes in the country and was the result when we really saw the tide for the rest of the night. Remain supporters had been salivating that Sunderland would be 'punished' for daring to ignore the warnings: the complete opposite has happened. It was predictable to anyone with a critical mind.

I also can't believe you seriously quoted the most stupid thing said during the whole campaign by the most stupid man in politics. I just realised by him saying that, he basically admits he's not an expert and is unqualified.

Who are you referring to as the stupid one?

Bank of England Governor Mark Carney? Former PM David Cameron? Former Chancellor George Osborne? HM Treasury? Nissan Motor Company? Toyota? The IMF? The IMF Chief? The OECD? Professional economists? Financial Times journalists?

Anyone of them could be described as stupid given their absurd scare stories that have failed to come to fruitation.

[dbgtz]

Only someone who voted Remain could look on Nissan expanding and creating thousands of jobs here as a bad thing. Prior to the referendum, all we got was numerous warnings from Nissan and the other car companies telling us they would leave if the public returned with the 'wrong' result. I replied that they said the same thing when the Euro was launched and they were talking bs. "Oooh yes but how do you know this time they're not bluffing it's just not worth da RISK" came the response.

Well.... turns out they were bluffing as I said. Car companies are here because of a skilled workforce and healthy market. Not the EU. The icing on the cake with this too is that Sunderland was one of the strongest Leave votes in the country and was the result when we really saw the tide for the rest of the night. Remain supporters had been salivating that Sunderland would be 'punished' for daring to ignore the warnings: the complete opposite has happened. It was predictable to anyone with a critical mind.

Nice ignoring all of the part where I say it's not good if they're being subsidised.

http://www.independent.co.uk/news/uk...-a7383776.html

Who are you referring to as the stupid one?

Bank of England Governor Mark Carney? Former PM David Cameron? Former Chancellor George Osborne? HM Treasury? Nissan Motor Company? Toyota? The IMF? The IMF Chief? The OECD? Professional economists? Financial Times journalists?

Anyone of them could be described as stupid given their absurd scare stories that have failed to come to fruitation.

Nice attempt and being clever about it, but the fact I specifically refer to you quoting it and the mention of experts clearly refers to Gove so that was a very stupid spin. It should be very obvious to someone with a critical mind