Latest Issue

ONS revisions: Economic abracadabra won’t magic away our problems

Changes to the way we calculate UK GDP may help us in the future, but they won’t solve the economic issues of the day

By George Magnus  

Artist’s impression of an ONS economics wizard

At the end of September, once you’re back from your holidays and the kids are back at school, the Office for National Statistics (ONS) is going to perform a bit of statistical magic for us. It is going to show that the level of the UK’s Gross Domestic Product is higher than we thought it was, the recession in 2009 wasn’t as deep as we assumed, and that the last peak in the economy in the first quarter of 2008 was surpassed in…

Register today to continue reading

You’ve hit your limit of three articles in the last 30 days. To get seven more, simply enter your email address below.

You’ll also receive our free e-book Prospect’s Top Thinkers 2020 and our newsletter with the best new writing on politics, economics, literature and the arts.

Prospect may process your personal information for our legitimate business purposes, to provide you with newsletters, subscription offers and other relevant information.

Click here to learn more about these purposes and how we use your data. You will be able to opt-out of further contact on the next page and in all our communications.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

We want to hear what you think about this article. Submit a letter to

More From Prospect