Wednesday, 8 April 2009

First quarter GDP down 1.5 percent

The first quarter GDP number is going to be bad. According to NIESR, the economy contracted a further 1.5 percent. The UK is now 9 months into the deepest recession since the early 1980s.


John said...

I don't think GDP has fallen 13%! Are you sure you haven't taken the quarterly numbers published each month and added them up as if they were a series of monthly numbers?

Anonymous said...

I live in London and here is what I just saw at lunch time. An absolutely packed urban mall in Bloomsbury full of shops, restaurants, a Waitrose: everyone buying food and clothes, lots of people about. The economy is booming in London right now. I don't know why, but there is tonnes of money about in London.

Alice Cook said...


Well spotted. Actually, the chart I posted was for industry, which is down 13 percent.

I had to copy the data from a PDF file, the columns titles got mixed up in excel, and I wasn't concentrating.

Anyway, I have corrected it, and as you say, GDP did not fall 13 percent.


Anonymous said...

Keep your graphs coming Alice. They are much appreciated.
Thank you.

Anonymous said...

I second that!

Much appreciated and informative blog.