Friday, October 23, 2009
GDP down 0.4% in Q3 - the ONS does it again
Posted by David Smith at 09:45 AM
Category: Thoughts and responses

The debate was over whether the third quarter gross domestic product numbers would be flat or show a small increase. In the event, the Office for National Statistics came out with another bizarre figure, a decline of 0.4%. True, August industrial production figures showed a surprise slump but this looked like a temporary and immediately reversible change. Pretty well everything is down on the quarter in these numbers; industrial production by 0.7%, services by 0.2%. Only government spending was flat. More details here.