Back To The Future

The Office for National Statistics (ONS) reports that gross domestic product expanded by 0.8% in the April-June period.

Compared with the second quarter of last year, growth was 3.1%, the fastest pace since the end of 2007.

Total economic output was 0.2% higher than in the first quarter of 2008, its previous peak.

Hoozah!

As Robert Peston wisely observes:

So the British economy is at last a teeny weeny bit bigger than it was just over six years ago. But you probably don't feel richer
— Robert Peston (@Peston) July 25, 2014