from BBC:QuoteFrance and Germany exit recession
The French and German economies both grew by 0.3% between April and June, bringing to an end recessions in two of Europe's largest economies.
"The data is very surprising. After four negative quarters France is coming out of the red," said French Finance and Economy Minister Christine Lagarde.
Few analysts expected the economies to come out of recession this early.
The eurozone's official gross domestic product (GDP) figures will be released later on Thursday morning.
The German economy contracted by a revised 3.8% in the first three months of the year.
And while exports rose 7% in June, the fastest pace in nearly three years, few analysts had expected a return to overall economic growth so quickly.
France's economy had contracted by 1.2% in the first quarter.
0.3%?!!!!! fasten safety belts!
Quote from: Tamas on August 13, 2009, 02:35:03 AM
0.3%?!!!!! fasten safety belts!
That 0.3% is probably more than the entire Hungarian economy, so shut up. :P
Anyway, great news!
It seems Portugal too have grown 0,3% :yeah:
Quote from: I Killed Kenny on August 13, 2009, 04:50:48 AM
It seems Portugal too have grown 0,3% :yeah:
Well then, let's hear it for cork.
Quote from: Martinus on August 13, 2009, 02:55:21 AM
Quote from: Tamas on August 13, 2009, 02:35:03 AM
0.3%?!!!!! fasten safety belts!
That 0.3% is probably more than the entire Hungarian economy, so shut up. :P
Anyway, great news!
It's 12,5% of Hungary's GDP
Quote from: CountDeMoney on August 13, 2009, 05:10:14 AM
Quote from: I Killed Kenny on August 13, 2009, 04:50:48 AM
It seems Portugal too have grown 0,3% :yeah:
Well then, let's hear it for cork.
Don't congratulate to much or else you'll be shot by a nigger
Quote from: I Killed Kenny on August 13, 2009, 05:15:26 AM
Quote from: CountDeMoney on August 13, 2009, 05:10:14 AM
Quote from: I Killed Kenny on August 13, 2009, 04:50:48 AM
It seems Portugal too have grown 0,3% :yeah:
Well then, let's hear it for cork.
Don't congratulate to much or else you'll be shot by a nigger
Our homicide rate grew by .3% overnight, so eat that, eggplant.
What're the chances of employment there for one who doesn't spraak the lingo?
Strange news, the buzz used to be that Britain was better off than Europe.
Results for the rest of the EU (where available) for the last quarter:
Belgium: -0.4
Germany: +0.3
Estonia: -3.7
Greece: +0.3
France: +0.3
Italy: -0.5
Cyprus: -0.5
Latvia: -1.6
Lithuania: -12.3
Hungary: -2.1
Netherlands: -0.9
Austria: -0.4
Portugal: +0.3
Romania: -1.2
Slovakia: +2.2
Sweden: 0
UK: -0.8
Take that Lithuanian homophobes. :yeah:
Quote from: Martinus on August 13, 2009, 05:27:12 AM
Slovakia: +2.2
Man, PPV internet porn made a bigger dent than we thought.
Quote from: CountDeMoney on August 13, 2009, 05:17:03 AM
Quote from: I Killed Kenny on August 13, 2009, 05:15:26 AM
Quote from: CountDeMoney on August 13, 2009, 05:10:14 AM
Quote from: I Killed Kenny on August 13, 2009, 04:50:48 AM
It seems Portugal too have grown 0,3% :yeah:
Well then, let's hear it for cork.
Don't congratulate to much or else you'll be shot by a nigger
Our homicide rate grew by .3% overnight, so eat that, eggplant.
it's a tie, then
Quote from: I Killed Kenny on August 13, 2009, 05:15:26 AM
Quote from: CountDeMoney on August 13, 2009, 05:10:14 AM
Quote from: I Killed Kenny on August 13, 2009, 04:50:48 AM
It seems Portugal too have grown 0,3% :yeah:
Well then, let's hear it for cork.
Don't congratulate to much or else you'll be shot by a nigger
Seedy. I think it's time to lift the moratorium on my use of this word. When even the rat fuck eggplants get to use it, it's starting to get unfair.
0.3% growth seems kinda sad after your economy just shrank 3+% but anyway congrats to my Euro friends.
Quote from: Valmy on August 13, 2009, 07:25:13 AM
0.3% growth seems kinda sad after your economy just shrank 3+% but anyway congrats to my Euro friends.
I guess the thing is that the positive growth quarter, no matter how small, officially ends the recession? A certain number of negative quarters are required to occur in order to call a recession. So, if the next quarter shows negative growth, I guess that won't be called a recession again since only it's only one quarter, and hopefully the economy is moving upwards.
Quote from: Valmy on August 13, 2009, 07:25:13 AM
0.3% growth seems kinda sad after your economy just shrank 3+% but anyway congrats to my Euro friends.
Consider your economy is still shrinking, I wouldn't look down on the Germans and the French. ;)
Quote from: KRonn on August 13, 2009, 08:05:51 AM
Quote from: Valmy on August 13, 2009, 07:25:13 AM
0.3% growth seems kinda sad after your economy just shrank 3+% but anyway congrats to my Euro friends.
I guess the thing is that the positive growth quarter, no matter how small, officially ends the recession? A certain number of negative quarters are required to occur in order to call a recession. So, if the next quarter shows negative growth, I guess that won't be called a recession again since only it's only one quarter, and hopefully the economy is moving upwards.
I recently found out that consecutive quarter rule is a bit of a myth. Recessions begin and end when some economists say so.
Quote from: Martinus on August 13, 2009, 05:27:12 AM
Take that Lithuanian homophobes. :yeah:
Pfft, those Balts have nothing on Ukrainians. My people really know how to shrink that GDP.
The experts here expect a W-shaped recovery, meaning the last quarter and perhaps the current one will have very minor growth, but in the fourth quarter or so, the economy might decline again as government schemes to prop up the economy and to save jobs run out and people are laid off.
Quote from: Martinus on August 13, 2009, 10:28:07 AM
Consider your economy is still shrinking, I wouldn't look down on the Germans and the French. ;)
Where did I look down on them?
Quote from: Martinus on August 13, 2009, 10:28:07 AM
Quote from: Valmy on August 13, 2009, 07:25:13 AM
0.3% growth seems kinda sad after your economy just shrank 3+% but anyway congrats to my Euro friends.
Consider your economy is still shrinking, I wouldn't look down on the Germans and the French. ;)
Why do you think we are still shrinking?
Quote from: alfred russel on August 13, 2009, 10:58:05 AM
Why do you think we are still shrinking?
We've been out swimming in cold water for too long. -_-
Quote from: Slargos on August 13, 2009, 06:18:18 AM
Quote from: I Killed Kenny on August 13, 2009, 05:15:26 AM
Quote from: CountDeMoney on August 13, 2009, 05:10:14 AM
Quote from: I Killed Kenny on August 13, 2009, 04:50:48 AM
It seems Portugal too have grown 0,3% :yeah:
Well then, let's hear it for cork.
Don't congratulate to much or else you'll be shot by a nigger
Seedy. I think it's time to lift the moratorium on my use of this word. When even the rat fuck eggplants get to use it, it's starting to get unfair.
Of course it's unfair. :contract:
Quote from: DGuller on August 13, 2009, 10:38:52 AM
Quote from: KRonn on August 13, 2009, 08:05:51 AM
Quote from: Valmy on August 13, 2009, 07:25:13 AM
0.3% growth seems kinda sad after your economy just shrank 3+% but anyway congrats to my Euro friends.
I guess the thing is that the positive growth quarter, no matter how small, officially ends the recession? A certain number of negative quarters are required to occur in order to call a recession. So, if the next quarter shows negative growth, I guess that won't be called a recession again since only it's only one quarter, and hopefully the economy is moving upwards.
I recently found out that consecutive quarter rule is a bit of a myth. Recessions begin and end when some economists say so.
Yeah, that rings a bell. I think I heard something about the consecutive quarters thing not really being the factor. We did seem to have some widely different views on when/if we hit a recession about a year or so ago.
Quote from: DGuller on August 13, 2009, 10:38:52 AM
I recently found out that consecutive quarter rule is a bit of a myth. Recessions begin and end when some economists say so.
Yeah, that's rather annoying. The result is that we're almost always "in a recession" because so many economists or "pundits" want to be the first to say we are. I always preferred the textbook '2 consecutive quarters' definition.
Quote from: Slargos on August 13, 2009, 06:18:18 AM
Quote from: I Killed Kenny on August 13, 2009, 05:15:26 AM
Quote from: CountDeMoney on August 13, 2009, 05:10:14 AM
Quote from: I Killed Kenny on August 13, 2009, 04:50:48 AM
It seems Portugal too have grown 0,3% :yeah:
Well then, let's hear it for cork.
Don't congratulate to much or else you'll be shot by a nigger
Seedy. I think it's time to lift the moratorium on my use of this word. When even the rat fuck eggplants get to use it, it's starting to get unfair.
Rat fuck porkchops :contract:
Quote from: DGuller on August 13, 2009, 10:38:52 AM
I recently found out that consecutive quarter rule is a bit of a myth. Recessions begin and end when some economists say so.
I think the current recession is the first one that has been scored by the new rules.
Quote from: derspiess on August 13, 2009, 12:38:00 PM
Quote from: DGuller on August 13, 2009, 10:38:52 AM
I recently found out that consecutive quarter rule is a bit of a myth. Recessions begin and end when some economists say so.
Yeah, that's rather annoying. The result is that we're almost always "in a recession" because so many economists or "pundits" want to be the first to say we are. I always preferred the textbook '2 consecutive quarters' definition.
Apparently the 2 consecutive quarters was suggested by an economist in the New York Times with a number of other rules of thumb. Everyone forgot about them and focused on that, so it was never really a 'textbook' definition.
I recently read that the 19th century name for a recession was a 'depression' but that the great depression was so uniquely awful that people stopped using the word 'depression' except in relation to that specific 'depression' and started to use 'recession' for more commonplace recessions.