September 3, 2023
GROWTH IS ALWAYS REVISED UPWARD:
UK Pulled Ahead of Germany in Economic Recovery From Covid (Bloomberg, 9/03/23)
The UK economy appears to have pulled ahead of Germany's in its recovery from the Covid-19 pandemic, with updated figures suggesting gross domestic product rose more quickly than thought.GDP jumped 8.7% in 2021 as the economy bounced back from lockdowns, instead of the 7.6% previously estimated, the Office for National Statistics said Friday. [...]Assuming no change to growth rates since then, it implies the economy was 1.5% above pre-pandemic levels in the second quarter of this year, instead of 0.2% below.
Posted by Orrin Judd at September 3, 2023 12:00 AM