Tuesday, March 30, 2010
GDP up, house prices bounce back
Posted by David Smith at 10:00 AM
Category: Thoughts and responses

The latest gross domestic product figures confirm how revision-prone these numbers are. Two months ago the Office for National Statistics said the UK scraped out of recession in the fourth quarter, by just 0.1%. Now the expansion is 0.4%. Who knows what it will look like in a couple of years' time? Spending in the fourth quarter was supported by a dip in the saving ratio. It dropped from 8.4% to 7%. More details here.

Meanwhile, the Nationwide said house prices have risen by 0.7% in March, almost reversing their 0.8% February fall. It thinks prices are flattening. So do I. More here.