Summary
REVISIONS of already published output numbers rarely attract much attention. That is because we tend to look forward to the sunny uplands rather than examining old figures.
That said, there is no escaping the conclusion that output in the early months of this year was much weaker than previously reported and probably represented the nadir of the crisis.See the full content of this document
Extract
Long Road to Sunny Uplands ; Comment
Instead of the 1.9pc drop in output originally estimated, the actual number is minus 2.4pc. Annual growth is down 4.9. That is the worst outcome in half a century.
What also is worth noting is that the recessi...See the full content of this document
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