Thursday, January 28, 2010

Out of recession – by £1 a week

I’d like to congratulate everyone in the UK for reaching the end of the recession. It’s provisionally reported that the economy grew by 0.1% in the final quarter of last year. In cash terms, that means that our GDP was about £350 million larger in that fourth quarter than in the third.

There are about 28.9 million people in work across the country, so that makes a shade over £12 extra output each. A quarter of a year, once you take into account the Christmas break, is roughly 12 weeks.

So we’ve each been producing a pound a week extra. Good work, team!

Matthew Dent, who did in fact produce that pound he’s holding.

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