We’re looking at what, a 40%+ fall in GNP peak-to-trough?
(~20% from construction and property alone, the public sector will have to take a shave of one third at least=~11%, and a very optimistic 9% from manufacturing, retail and services)
And you have Dell, their sub-suppliers et al and many many others yet to fallout of the production index in 2009.
The most interesting figure I took out of the December industrial figures is that electricity production FELL 1.3% yoy in December, and this December was relatively cold so industrial/commercial demand must have been down much more. It has a lot further to fall methinks.
Well, maybe. If the .gov steps up to the plate and spends an extra 20 bn this year, that’ll cushion the blow somewhat. No?
I don’t think we would be able to raise an additional €20B even if we were willing to pay 10%
Are you serious? The government are not spending 20billion extra this year. They are spending something similar to last year its just that much more it is borrowed than last year.
Yup, so it is new money into the economy…
No net impact though.
Ah, now you’re expecting the figures to reflect reality. If it can be done in a way to make the figures look better, it will.