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Post by Pacifico on Sept 1, 2023 17:09:39 GMT
The Office for National Statistics growth forecasts were inaccurate and have now been revised. The UK economy shrank less than thought during the pandemic, and returned to pre-Covid levels almost two years ago: GDP was 0.6% higher than before Covid in the last quarter of 2021, not 1.2% smaller. That will upset some people..   |
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Post by oracle75 on Sept 1, 2023 17:18:53 GMT
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Post by Pacifico on Sept 1, 2023 17:28:41 GMT
Yes - its those figures that have now been revised... |
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Post by oracle75 on Sept 1, 2023 17:33:19 GMT
Revised by whom?
The ONS?
I posted the official figures from the Treasury.
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Post by Pacifico on Sept 1, 2023 17:40:30 GMT
Revised by whom? The ONS? I posted the official figures from the Treasury. It tells you on the bottom of your chart the figures are from the ONS. As recently as mid August, official data reflected ONS estimates that the economy had still not reached its pre-pandemic level, even by the second quarter of this year.
But, after the revisions are included in official figures in October, they will show that the UK economy recovered from the pandemic in late 2021, a recovery as strong as France’s and better than Germany’s.
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Post by jonksy on Sept 1, 2023 17:43:27 GMT
The Office for National Statistics growth forecasts were inaccurate and have now been revised. The UK economy shrank less than thought during the pandemic, and returned to pre-Covid levels almost two years ago: GDP was 0.6% higher than before Covid in the last quarter of 2021, not 1.2% smaller. That will upset some people.. Oh dear, more bad news for the remnants. |
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Post by buccaneer on Sept 2, 2023 2:23:03 GMT
This is interesting. How the hell did they get this so wrong?
Secondly, the 'UK is the bottom of the G7' argument and the 'UK not back to its pre-pandemic levels' was the weapon of choice especially for those who believed the UK should never have left the EU.
It's made their arguments obsolete.
But how did they get this so wrong?
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Post by Pacifico on Sept 2, 2023 6:30:11 GMT
This is interesting. How the hell did they get this so wrong? well the easy answer is that they are a Government Department so what did you expect?... |
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Post by Hutchyns on Sept 2, 2023 7:11:24 GMT
buccaneer Here's one opinion:  |
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Post by oracle75 on Sept 2, 2023 8:32:30 GMT
So those who discount the validity of the ONS are cheering the fact that the ONS have corrected their own original mistake.
Yeah. OK.
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Post by buccaneer on Sept 2, 2023 9:36:07 GMT
So those who discount the validity of the ONS are cheering the fact that the ONS have corrected their own original mistake. Yeah. OK. Except, desparados like you used their stats to brow-beat Brexit Britain. And now you tell us, you never believed them in the first place! lol |
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Post by Steve on Sept 2, 2023 10:01:01 GMT
The Office for National Statistics growth forecasts were inaccurate and have now been revised. The UK economy shrank less than thought during the pandemic, and returned to pre-Covid levels almost two years ago: GDP was 0.6% higher than before Covid in the last quarter of 2021, not 1.2% smaller. That will upset some people.. . . . yes it will upset you when the penny drops and you realise that means the economy shrank in 2022 |
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Post by oracle75 on Sept 2, 2023 10:34:49 GMT
So those who discount the validity of the ONS are cheering the fact that the ONS have corrected their own original mistake. Yeah. OK. Except, desparados like you used their stats to brow-beat Brexit Britain. And now you tell us, you never believed them in the first place! lol No dear. Politico said he didnt believe the ONS. I said nothing on the issue. He doesnt believe it when it is bad news but does believe it when it corrects its previous mistakes. Perfect example of confirmation bias. |
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Post by sheepy on Sept 2, 2023 10:37:24 GMT
Except, desparados like you used their stats to brow-beat Brexit Britain. And now you tell us, you never believed them in the first place! lol No dear. Politico said he didnt believe the ONS. I said nothing on the issue. He doesnt believe it when it is bad news but does believe it when it corrects its previous mistakes. Perfect example of confirmation bias. Or desperately trying to figure what is real and what isn't. |
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Post by buccaneer on Sept 2, 2023 10:38:41 GMT
Except, desparados like you used their stats to brow-beat Brexit Britain. And now you tell us, you never believed them in the first place! lol No dear. Politico said he didnt believe the ONS. I said nothing on the issue. He doesnt believe it when it is bad news but does believe it when it corrects its previous mistakes. Perfect example of confirmation bias. Sorry, but you've been one of the main antagonists on here gleefully revelling in the plight of the "UK lowest G7 economy" and "still lower than pre-pandemic levels" rhetoric. |
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