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Thursday, June 27, 2013

No Double Dipper

As sure as eggs are eggs, the Office for National Statistics (ONS) has revised its figures yet again.

This time the revision brings some good news, it appears that Britain never had a double dip recession:
"GDP growth between Q4 2011 and Q1 2012 has been revised from a fall of 0.1% to flat, thereby removing the phenomenon of two consecutive quarters of negative growth."
As I have noted many times before it is extremely unwise to rely on figures provided by the ONS, they are always out of date and invariably wrong.

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