GDP Q1 2011

GDP today announced as +0.5%, making an annual total of around 1.6%.  That is quite close to the margin of error in its compilation I would have thought.  However, the ONS insists the margin of error in these early estimates of GDP is 0.2% either way.  I haven't checked the scale of their revisions to GDP, but I suspect that it is greater than 0.2%.

With our new debt costing over 4%, and debt liabilities creeping toward £1,000 billion, and the recession ending in Q4 2009, very weak quarterly figures since then, it is hard to see how the UK is going to grow out of its debt, and run a surplus instead of a permanent deficit.