Tuesday, June 30, 2009

2 and half year wasted

The ONS has published new GDP figures today which show a large decline in GDP. People might think that four quarters of negative growth will be overcome once the economy starts growing again. In fact real GDP in Q1 2009 was as high as in Q3 2006. This means that the UK is a rich as war 2 and half years ago in real terms. And this neglects any population growth in that time.

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