Everyone feeling better about the economy now?

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…