Thursday 25 October 2012

Big GDP growth...can Labour try and hide their disappointment

So the figures are in...the UK economy grew by  1% in the last quarter at first estimate beating the 0.7-0.8 predicted by most forecasters....this must be excrutiating figures for Labour. They'll be in the TV studios doing the usual 'We welcome these positive figures, but...'

There are no 'buts'. It's good news! The ONS estimate the boost from GDP tickets as 0.2% of that growth but they didn't seem to make note of the lost productivity while the Olympics was on. Also these figures are posted despite the continuing weakness on the continent and slowdown in other major economies.

Ossie, if you're watching feel free to upgrade yourself to first class this weekend...and have some champagne while you're there! Just don't charge the taxpayer for it...but then again, unlike Ed Balls you never have.


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