Tuesday, September 30, 2008
Revised GDP figures
Posted by David Smith at 10:00 AM
Category: Thoughts and responses

The second quarter seems like a long time ago, particularly in the light of the September crisis in the markets and Congress's rejection of the White House's $700 billion bailout plan - a decision that must surely be reversed later in the week. But back in the real world, revised UK GDP figures were unremarkable. There was no growth in the second quarter, with the economy up 1.5% on a year earlier. Consumer spending slipped by 0.1% on the quarter, while investment dropped by 2.8%. The saving ratio recovered, though only to 0.4%. Details here.