Five questions answered on the UK’s GDP growth

How is the economy fairing?

The UK’s GDP has seen its fastest growth for three years latest figures have revealed. We answer five questions on the statistics. 

How much has the UK’s economic output grown by? 

According to the Office for National Statistics (ONS) UK economic output rose by 0.8 per cent between July and September.

This is the best quarterly performance since 2010.

What other figures were released?

The ONS said production grew by 0.5 per cent, however this is 12.8 per cent off its 2008 level. Within this manufacturing improved by 0.9 per cent.

The service sector grew by 0.7 per cent and is now 0.6 per cent above its pre-crisis peak. This represents three-quarters of economic output. 

What has the government had to say about these latest figures?

Chancellor of the Exchequer George Osborne tweeted: "This shows that Britain's hard work is paying off & the country is on the path to prosperity."

While the Deputy Prime Minister Nick Clegg said the figures "show that we are firmly on the road to economic recovery".

And the experts?

The Institute of Directors' chief economist Graeme Leach told the BBC: "The outlook looks better than at any time since the onset of the financial crisis. Indeed, our members have more confidence in the economy than at any time since 2008.

"However, strong headwinds remain and the annual growth rate year on year is nothing to get too excited about yet. Though inflationary pressures are likely to remain benign, debt and inflation are rising faster than earnings.

"This stage of our economic recovery is likely to be short and sweet, instead of long and strong."

The director-general of the British Chambers of Commerce, John Longworth, said: "This is the highest quarterly increase we've seen in three years, so the economy is clearly moving in the right direction.

"But we are still behind a number of advanced economies, such as the US and Germany, that have managed to recover the output lost during the economic downturn.

So, how does the economy fair overall?

The economy remains 2.5 per cent below its pre-recession peak at the start of 2008, and 1.5 per cent ahead of the same period last year. 

On the road to recovery? Photograph: Getty Images.

Heidi Vella is a features writer for Nridigital.com

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Europe's elections show why liberals should avoid fatalism

France, Germany and the Netherlands suggest there is nothing inevitable about the right's advance.

Humans are unavoidably pattern-seeking creatures. We give meaning to disparate events where little or none may exist. So it is with Brexit and Donald Trump. The proximity of these results led to declarations of liberalism's demise. After decades of progress, the tide was said to have unavoidably turned.

Every election is now treated as another round in the great duel between libralism and populism. In the Netherlands, the perennial nativist Geert Wilders was gifted outsize attention in the belief that he could surf the Brexit-Trump wave to victory. Yet far from triumphing, the Freedom Party finished a distant second, increasing its seats total to 20 (four fewer than in 2010). Wilders' defeat was always more likely than not (and he would have been unable to form a government) but global events gifted him an aura of invincibility.

In France, for several years, Marine Le Pen has been likely to make the final round of the next presidential election. But it was only after Brexit and Trump's election that she was widely seen as a potential victor. As in 2002, the front républicain is likely to defeat the Front National. The winner, however, will not be a conservative but a liberal. According to the post-Trump narrative, Emmanuel Macron's rise should have been impossible. But his surge (albeit one that has left him tied with Le Pen in the first round) suggests liberalism is in better health than suggested.

In Germany, where the far-right Alternative für Deutschland was said to be remorselessly advancing, politics is returning to traditional two-party combat. The election of Martin Schulz has transformed the SPD's fortunes to the point where it could form the next government. As some Labour MPs resign themselves to perpeutal opposition, they could be forgiven for noting what a difference a new leader can make.

2016 will be forever remembered as the year of Brexit and Trump. Yet both events could conceivably have happened in liberalism's supposed heyday. The UK has long been the EU's most reluctant member and, having not joined the euro or the Schengen Zone, already had one foot outside the door. In the US, the conditions for the election of a Trump-like figure have been in place for decades. For all this, Leave only narrowly won and Hillary Clinton won three million more votes than her opponent. Liberalism is neither as weak as it is now thought, nor as strong as it was once thought.

George Eaton is political editor of the New Statesman.