Tuesday, 30 June 2009

The ONS has just published its quarterly GDP "growth" figures. Growth was -2.4% in Q1of 2009, and -4.9% down on the same quarter last year. Here's a chart...

Dire, isn't it? The Beeb reckons we haven't had it this bad for 51 years. As a measure of how good the Bank of England is at forecasting look at this graph they published back in February this year.

We're now in the outer fringes of their worst-case scenario.

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