Q1 GDP +0.3%

  • GDP increased by 0.3% in Q1 2013 compared with Q4 2012, subject to revisions of on average 0.36%.
  • GDP was 0.4% higher in Q1 2013 than in Q3 2011 and therefore has been broadly flat over the last 18 months.
  • Largest contribution to Q1 2013 GDP growth came from services; these industries increased by 0.6% contributing 0.47 % to the 0.3% increase in GDP.
  • Before the sharp fall in output in 2008 and 2009 the economy peaked in Q1 2008, the lowest level was in Q2 2009.
  • GDP fell 6.3% from peak to trough.
  • In Q1 2013 GDP was estimated to be 2.6% below the peak in Q1 2008.

No triple dip…




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Quote of the Day

David Cowling, the BBC’s head of political research, in an internal memo…

“It seems to me that the London bubble has to burst if there is to be any prospect of addressing the issues that have brought us to our current situation. There are many millions of people in the UK who do not enthuse about diversity and do not embrace metropolitan values yet do not consider themselves lesser human beings for all that. Until their values and opinions are acknowledged and respected, rather than ignored and despised, our present discord will persist. Because these discontents run very wide and very deep and the metropolitan political class, confronted by them, seems completely bewildered and at a loss about how to respond (“who are these ghastly people and where do they come from?” doesn’t really hack it). The 2016 EU referendum has witnessed the cashing in of some very bitter bankable grudges but I believe that, throughout this 2016 campaign, Europe has been the shadow not the substance.”

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