Economic output declined by 0.1 per cent in December, January and February, suggesting an economy that continued to flat-line in the first two months of this year, according to the latest data from NIESR.
Economic output declined by 0.1 per cent in December, January and February, according to the latest data from the National Institute of Economic and Social Research (NIESR), suggesting that the economy continues to flatline.
NIESR’s monthly estimate of GDP indicates that output declined by 0.1 per cent in the three months ending in February after a decline of 0.2 per cent in the three months ending in January 2013.
Because the economy grew slightly it is not technically in recession, yet it remains stuck in a depression because economic output is depressed below its previous peak.
The below graph shows how the economy has scraped along the bottom for the past 12 months, barely registering any growth whatsoever.
Today is turning into a stinker for the government, with data out this morning showing that government borrowing is likely to overshoot the chancellor’s target by £8bn this financial year, and figures from the Office for National Statistics showing a fall in manufacturing and production output for January.
To reach hundreds of thousands of new readers and to make the biggest impact we can in the next general election, we need to grow our donor base substantially.
That's why in 2024, we are seeking to generate 150 additional regular donors to support Left Foot Forward's work.
We still need another 124 people to donate to hit the target. You can help. Donate today.
14 Responses to “Economic output down in three months to March”
Mick
Poor little Newsbot! He fails to register that despite Labour’s own failures, which saw them kicked out by a vengeful public in 2010, they still have an over-inflated sense of pomposity or self-righteousness as if nothing had happened before then.
They SHOULD be saying to Cameron: ‘Hmmm, we found things less than easy too.’
Newsbot9
Of course you want to demand people follow your script. Keep obsessing over Labour, and claiming that elections are “vengeful”. No, they’re democracy, and your constant claims that the party in power should be criticism-free are telling.
Thanks for ignoring the point about the Tories calls.
Mick
Oh Newsie Newsie! Nesot knows I’m in no position to demand anything, other than to ask that people with more credibility than Labour lecture on the economy.
Indeed, EVERY time Labour leaves office, it leaves an economy in wonky shape.
Mick
Nesot? I’m gonna call you Nesot from now on, based on the premise that Newsbot has something missing!