Recession officially over

Paddy Samurai

Hurrraaaah!.............break open the champagne,we are all rich again.:D

Might buy myself a few investment properties.......eh if i can get a bank loan.

The Irish recession officially ended at the start of the year, new figures revealed today.
According to the Central Statistics Office (CSO), the value of all goods and services in the country, measured by GDP, grew by 2.7pc in the first three months of 2010 compared with the last three months of last year.
GDP fell by a record 7.1pc last year - the largest decline in output recorded in a single year.

http://www.independent.ie/business/irish/recession-officially-over-2240269.html

Banned Account

Hooooooooray - hey OP, any chance I could borrow a tenner?

chin_grin

It'll never be over for those who were in it..........<airplane noises, bombs exploding, gunfire, "sucky sucky fi' dolla'?">


<shudder>

Fizman

Ya the recession was over when the status changed to depression.

orourkeda

economic paradigm shift going forward. such a proactive and dynamic tipping point

Nijmegen

I miss it already. Remember how we were all closer together, helping one another out and there was a great spirit of community? Kids these flush days don't have that.

---Is what we'll be saying in ten years, similar to the late 1990's onwards. Bull.

sensibleken

Thank god. I was getting sick of paying under 6 quid for a pint

SV

Now, who'd like to buy my house?
3 bedroom, semi detached...

€550,000 sound fair?

Cookie_Monster

Fizman wrote: »

Ya the recession was over when the status changed to depression.

indeed, a recession can only last 6 months. it then becomes a depression.

Recession is 2 consecutive quarters of negative growth

just the usual media and gov spin

ejmaztec

Paddy Samurai wrote: »

Hurrraaaah!.............break open the champagne,we are all rich again.:D

Might buy myself a few investment properties.......eh if i can get a bank loan.



http://www.independent.ie/business/irish/recession-officially-over-2240269.html

Oh great, I must point this good news out to the bastards who owe me money. They've got no excuses not to cough up now.

iceax

only if it was true, I wonder did any one read the full report from the cso.!!! a load of ...........

Sykk

The recession has been officially over for months now.. Read up on how it works. We're still in the ****.

orourkeda

iceax wrote: »

only if it was true, I wonder did any one read the full report from the cso.!!! a load of ...........

We're out of recession in the technical sense. In practical terms nothing has changed.

MagicMarker

Hey guys, remember that time we were in recession! Those were the days!

Mike 1972

Cookie_Monster wrote: »

Recession is 2 consecutive quarters of negative growth

So one doesnt know theyre in recession until theyve been in it six months ?

And how come it takes only one quarter of growth to take out of recession when it took two of decline to get us in it ?

If over a nine month period we get:
One quarter where the GDP shrank 8 % followed by
One quarter where the GDP grew 0.1 % followed by
One quarter where the GDP shrank 7.6 % %

it doesnt qualify as a recession because despite the economy shrinking by 15.5 % we didnt experience two consecutive quarters of decline ?

AnonoBoy

Excellent I can break out the mink coat and get people to blow coke up my ass at parties again without feeling like I'm showing off.

Nijmegen

Wonder if they'll re-open the expensive water shop in the airport?

ejmaztec

AnonoBoy wrote: »

Excellent I can break out the mink coke and get people to blow coke up my ass at parties again without feeling like I'm showing off.

I'm too cautious for that kind of carry-on, I'm just going to re-varnish my bench and replace my cardboard for now.

Biggins

Paddy Samurai wrote: »

Recession officially over

Not according to the New York Times yesterday: http://www.nytimes.com/2010/06/29/business/global/29austerity.html?hp

Neither agreeing or disagreeing with their assessment. Just posting their article.

derfderf

Anyone think the people of today are spoiled? Last years people really appreciated what they had.

jackiebaron

Paddy Samurai wrote: »

Hurrraaaah!.............break open the champagne,we are all rich again.:D

Might buy myself a few investment properties.......eh if i can get a bank loan.



http://www.independent.ie/business/irish/recession-officially-over-2240269.html

Bollocks! This is a double dip jobby. All stimulus was halted in the US at the end of March. That will lead to a second round of crashing later in the year. Next spring the Eurozone will barf again and we'll all be eating beans on toast under a bridge until 2015

markesmith

It's just more gick from the Indo, the useless corporate shills

GavRedKing

AnonoBoy wrote: »

Excellent I can break out the mink coke and get people to blow coke up my ass at parties again without feeling like I'm showing off.

/ Roll's up 500 euro note........

Raekwon

Yippy! The bankers and developers can finally see light at the end of the tunnel! Big pat on the back for Fianna Fáil! Well done lads!

............meanwhile back in the real world

Dole numbers rise to record 450,000

link

Paddy Samurai

Fitzcaraldo wrote: »

Hooooooooray - hey OP, any chance I could borrow a tenner?

Only a tenner?.......Np.........Its in the post.

You gotta think BIG fitz,if you want the boom times to roll.

owenc

Biggins wrote: »

Not according to the New York Times yesterday: http://www.nytimes.com/2010/06/29/business/global/29austerity.html?hp

Neither agreeing or disagreeing with their assessment. Just posting their article.

LOl if thats true they need to hurry up we've been out of recession for months.

ScumLord

Woohoo, the milky bars are on credit, again.

jordan..

news headlines

recession over followed by record unemployment :rolleyes:

Cabaal

maybe people will now stfu about the recession

cleremy jarkson

Goodbye recession, hello jobless recovery!

starbelgrade

I miss you already, Stephen.

Fizman

Maybe the recession will end when people start using punctuation.

:pac:

Sean Quagmire

I can has my money back now?

ejmaztec

Sean Quagmire wrote: »

I can has my money back now?

That depends on what the going rate is for a kidney these days.

arybvtcw0eolkf

chin_grin wrote: »

It'll never be over for those who were in it..........<airplane noises, bombs exploding, gunfire, "sucky sucky fi' dolla'?">


<shudder>

Shudder indeed!.

ejmaztec

derfderf wrote: »

Anyone think the people of today are spoiled? Last years people really appreciated what they had.

I didn't appreciate having nothing last year, but this year, I do appreciate the pot that I've got to piss in. Next year? Who knows.

philologos

Who knows, Fianna Fáil could convince us to vote for them again by the next election! "We got through the recession" rhetoric on way? :pac:

mathie

Fizman wrote: »

Maybe the recession will end when people start using punctuation.

:pac:

Or the correct punctuation?

topper75

For all the whinging done about it, there is a shocking amount of people on this thread who don't even have the first clue what a recession is.

Q1 saw economic growth.

That is all we need. Your unemployment, falling house price, jocular interest on savings, lying TD, and closing neighbourhood shop have nothing to do with it. That may or may not get fixed in time. But a quarter of growth means the economy is no longer receding. I don't expect you to love me for pointing this out, but at least now you know.

danbohan

topper75 wrote: »

For all the whinging done about it, there is a shocking amount of people on this thread who don't even have the first clue what a recession is.

Q1 saw economic growth.

That is all we need. Your unemployment, falling house price, jocular interest on savings, lying TD, and closing neighbourhood shop have nothing to do with it. That may or may not get fixed in time. But a quarter of growth means the economy is no longer receding. I don't expect you to love me for pointing this out, but at least now you know.

so its not receding anymore , neither is my hair its gone now , whats your point ?.

technical growth means sh12t to the 450k + unemployed or emigrated .thats the real world no matter what spin polticians or you put on it

Anita Blow

danbohan wrote: »

so its not receding anymore , neither is my hair its gone now , whats your point ?.

It's growth, no matter what spin the begrudging Irish put on it. A small victory is still a victory. I'm not going to complain.
The growth may not lead to any jobs, but it will stop or slow the rate of job losses in the export sector and the suppliers of them. Is that not better than continuing to lose jobs and GDP?

danbohan

Anita Blow wrote: »

It's growth, no matter what spin the begrudging Irish put on it. A small victory is still a victory. I'm not going to complain.
The growth may not lead to any jobs, but it will stop or slow the rate of job losses in the export sector and the suppliers of them. Is that not better than continuing to lose jobs and GDP?

yes in multinational sector it will stop job losses or maybe create few extra jobs , the point is what use is growth figures without actull growth in jobs , until people see that then you will still see negative sentiments , calling people who are very unhappy with 15%+ unemployment begrudging is hardly realistic

topper75

danbohan wrote: »

so its not receding anymore , neither is my hair its gone now , whats your point ?.

technical growth means sh12t to the 450k + unemployed or emigrated .thats the real world no matter what spin polticians or you put on it

You are clearly one of the individuals I was referring to. And after reading my post, you STILL don't know?

Here's some plain English
A recession is when an economy shrinks over two successive quarters.

A recession is over when any subsequent quarter shows positive growth.

BTW - regarding your accusation that I am putting a spin on this, would you like to argue that the recession is not in fact over? Are the CSO not to be believed. Where is my spin?

quad_red

Nolan Silly Cube wrote: »

Shudder indeed!.

That is seriously freaky...

congo_90

time to start charging 5.50 for coffee er.. i mean machioto and stay in 5 star hotels and trade in my reliable car for an over priced audi

danbohan

topper75 wrote: »

You are clearly one of the individuals I was referring to. And after reading my post, you STILL don't know?

Here's some plain English
A recession is when an economy shrinks over two successive quarters.

A recession is over when any subsequent quarter shows positive growth.

BTW - regarding your accusation that I am putting a spin on this, would you like to argue that the recession is not in fact over? Are the CSO not to be believed. Where is my spin?

ok recession is over great fantastic wonderfull!!, nobodys arguing with you on that point , happy now
now for those of us that live in real world what does that mean ?,
right,nothing .

dub_skav

Technically we are out of recession, the same way as we were technically in one after 2 quarters of decline in 2008. Problem then was the press and government completely overreacted and got everybody scared to spend making things much worse. Hopefully we've learned our lesson and won't overreact to this news

thebigbiffo

danbohan wrote: »

ok recession is over great fantastic wonderfull!!, nobodys arguing with you on that point , happy now
now for those of us that live in real world what does that mean ?,
right,nothing .

well in actual fact it means that the liklihood of you getting a raise in the next year has increased - if you're lucky to be employed. and if you're not - it's means the liklihood of you getting a job has also increased.

yeah - you're right. it means nothing :rolleyes:

narwog81

topper75 wrote: »

Q1 saw economic growth.
.

growth in what sector of the economy though?

GDP accounts for all the profit that multinationals are putting throught heir books in Ireland.

GNP is a more accurate measure as it doesnt take this into account so is a truer measure of where the economy is.

GDP growth is of course welcome but dont believe the spin, when GNP increases in 2 consecutive quarters then there is a cause for optimism, all this means is our MNC sector is still performing.

danbohan

thebigbiffo wrote: »

well in actual fact it means that the liklihood of you getting a raise in the next year has increased - if you're lucky to be employed. and if you're not - it's means the liklihood of you getting a job has also increased.

yeah - you're right. it means nothing :rolleyes:

i am retired , seen you guys are so fond of figures why not tell us how many jobs will be created by say dec 2010 , you are in cloud cuckoo land if you think for one minute you will see wage rises in this country inside next few years [generally their will be exceptions}

now you just go pop some more of your happy pills and regards to all in lala land

ScumLord

Fizman wrote: »

Maybe the recession will end when people start using punctuation.

:pac:

Whats that supposed to mean