Last month it was announced that GDP had decreased by 0.7% in just one quarter – but today that growth forecast was revised up, leading some to suggest that the situation isn’t as bleak as first believed. That may well be the case – lets take a look.
Here is what we thought growth looked – since Osborne’s 2010 spending review – before today’s revision:
Here’s what we know growth over that same period looks like following today’s revision:
Now let’s take a look at those side by side:
Everyone feeling better about the economy now? Thought not…
More from LabourList
Surplus Vaughan Gething donations will not go to Labour party
Labour’s ‘first steps’ pledges: Poll reveals what voters think
Islington North selection in Jeremy Corbyn’s seat: Who is standing, and will Corbyn run as an independent?