accel
Member
http://www.express.co.uk/news/uk/691589/Britain-BOOMS-EU-vote-economy-economic-news-Brexit
Someone explain how come they are saying something totally different.
I see you haven't been given a real explanation yet (that property thing is not it), so here goes:
Some of the numbers they are reporting are fine (example: unemployment falling), some are lacking context (example: FTSE 100 soared not because prospects are good, but rather because FTSE 100 is kind of special in that it is predominantly international and pound fell, growth of the index is a reflection of that fall) and some of the numbers that should perhaps be there aren't there (example: FTSE 250).
Sum total, they are being more optimistic than warranted - perhaps intentionally - although most of what they say is true.
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Another exhibit with a useful picture - one of the phrases in the Daily Express piece is "On Tuesday, the IMF - whose head Christine Lagarde warned in May that the consequences of Brexit would be “pretty bad to very, very bad” - forecast UK growth in 2017 to be 1.3 per cent, the fastest in Europe ahead of both France and Germany."
When you read the phrase, it gives an impression that there was an initial forecast that was terrible, and now that forecast has been reverted and things are back to normal, because, hey, the new forecast has the UK outperforming France and Germany, so things are presumably fine. The problem is in that last part - it's not back to normal, it's everyone going down somewhat and the UK having a higher start.
The numbers from IMF are these:
Source: https://www.imf.org/en/News/Article...Forecasts-on-Brexit-Warns-of-Risks-to-Outlook
The numbers for the UK are 2.2 (2015) - 1.7 (2016) - 1.3 (2017), France 1.3 - 1.5 - 1.2, Germany 1.5 - 1.6 - 1.2. The UK does outpace France and Germany in all years, but that might not continue, and it goes down the most - mostly because of Brexit.
The sky is not falling, but the article is misleading, it paints an unrealistic picture that is way too rosy.