When 0.6% growth of GDP (for the first Q of 2024) is reported as stronger than expected... you know that we have seriously downgraded our expectations about the UK's economic plight.
0.6% might end up looking like 2% + growth over the year, but don't get all happy, most of this 'growth' took place in services, which continue to have (as is well known) problems enhancing productivity... and productivity is the likely key to a revival of workers' real wages!
@ChrisMayLA6 Hmmm ... is 0.6% their final answer, though? I'll reserve judgement until it (almost inevitably) gets revised down to something more akin to 0.3% next month, or at the end of Q2.
Indeed, I'd expect that, especially with the mess the ONS has got itself into recently... the data collection issues in the Labour Force Survey are hardly likely to be isolated.... but to hear the Tories, its like we're emerging onto the sunny uplands - on this Rachel Reeves is right; they are gaslighting us
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