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World

How did the ONS get its GDP figures so wrong?

5 September 2023

1:27 AM

5 September 2023

1:27 AM

The Office for National Statistics let a bombshell drop on Friday. Halfway down the first page of their grippingly-titled document ‘Impact of methodological and data improvements on current price and chain volume measure of quarterly gross domestic product (GDP), 1997 to 2021’, they slipped out this sentence:

‘Annual volume GDP growth in 2021 is revised up 1.1

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