ONS: British economy grew by 0.6 per cent in last quarter

An end to the slump?

The ONS has announced that the British economy grew by 0.6 per cent in the last quarter, sparking suggestions that the economy may be coming out of its slump. It compares favourably to the mini-slump (no longer a double-dip recession) the country was in this time last year, and is the third best quarter Britain has seen since the recession.

Source: ONS

There had been indications that good news was in the offing for a while; at the beginning of the month, a string of positive economic data was released, and with no bank holidays, adverse weather, national events, or anything else to depress the figures, that seems to have held up. But "good news" is relative. The economy remains 3.3 per cent below its 2008 peak:

Source: ONS

The failure to bring the economy back to where it was pre-recession lies almost entirely on the back of the Government. A recent study estimating the effects of austerity on growth found that GDP was 3 per cent lower than it would have been if the Chancellor hadn't attempted to slash the state. That difference works out to £3,500 for every household in the country.

The ONS breaks down the contributions to the figure:

  • All four main industrial groupings within the economy (agriculture, production, construction and services) increased in Q2 2013 compared with Q1 2013.
  • The largest contribution to Q2 2013 GDP growth came from services; these industries increased by 0.6% contributing 0.48 percentage points to the 0.6% increase in GDP.
  • There was also an upward contribution (0.08 percentage points) from production; these industries rose by 0.6%, with manufacturing increasing by 0.4% following negative growth of 0.2% in Q1 2013.

Alex Hern is a technology reporter for the Guardian. He was formerly staff writer at the New Statesman. You should follow Alex on Twitter.

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Quiz: Can you identify fake news?

The furore around "fake" news shows no sign of abating. Can you spot what's real and what's not?

Hillary Clinton has spoken out today to warn about the fake news epidemic sweeping the world. Clinton went as far as to say that "lives are at risk" from fake news, the day after Pope Francis compared reading fake news to eating poop. (Side note: with real news like that, who needs the fake stuff?)

The sweeping distrust in fake news has caused some confusion, however, as many are unsure about how to actually tell the reals and the fakes apart. Short from seeing whether the logo will scratch off and asking the man from the market where he got it from, how can you really identify fake news? Take our test to see whether you have all the answers.

 

 

In all seriousness, many claim that identifying fake news is a simple matter of checking the source and disbelieving anything "too good to be true". Unfortunately, however, fake news outlets post real stories too, and real news outlets often slip up and publish the fakes. Use fact-checking websites like Snopes to really get to the bottom of a story, and always do a quick Google before you share anything. 

Amelia Tait is a technology and digital culture writer at the New Statesman.