Support 110 years of independent journalism.

  1. Business
  2. Economics
5 October 2011

Blow for Osborne as growth is revised down

New figures mean that the economy hasn't grown for nine months.

By George Eaton

David Cameron’s big day hasn’t got off a good start. Ahead of his speech at 2:30pm, it’s emerged that the economy grew by even less than we thought this year.

The Office for National Statistics has just revised down growth for the second quarter of this year from 0.2 per cent to 0.1 per cent, and growth for the first quarter of this year from 0.5 per cent to 0.4 per cent. The upshot is that the economy hasn’t grown for nine months (the economy contracted by 0.5 per cent in the fourth quarter of last year).

All of which confirms why Britain needs a plan for growth. But after George Osborne’s feeble speech this week, I wouldn’t hold your breath.

Select and enter your email address Your weekly guide to the best writing on ideas, politics, books and culture every Saturday - from the New Statesman. Sign up directly at saturdayread.substack.com The New Statesman's quick and essential guide to the news and politics of the day. Sign up directly at morningcall.substack.com Stay up to date with NS events, subscription offers & updates. Weekly analysis of the shift to a new economy from the New Statesman's Spotlight on Policy team.
  • Administration / Office
  • Arts and Culture
  • Board Member
  • Business / Corporate Services
  • Client / Customer Services
  • Communications
  • Construction, Works, Engineering
  • Education, Curriculum and Teaching
  • Environment, Conservation and NRM
  • Facility / Grounds Management and Maintenance
  • Finance Management
  • Health - Medical and Nursing Management
  • HR, Training and Organisational Development
  • Information and Communications Technology
  • Information Services, Statistics, Records, Archives
  • Infrastructure Management - Transport, Utilities
  • Legal Officers and Practitioners
  • Librarians and Library Management
  • Management
  • Marketing
  • OH&S, Risk Management
  • Operations Management
  • Planning, Policy, Strategy
  • Printing, Design, Publishing, Web
  • Projects, Programs and Advisors
  • Property, Assets and Fleet Management
  • Public Relations and Media
  • Purchasing and Procurement
  • Quality Management
  • Science and Technical Research and Development
  • Security and Law Enforcement
  • Service Delivery
  • Sport and Recreation
  • Travel, Accommodation, Tourism
  • Wellbeing, Community / Social Services
Visit our privacy Policy for more information about our services, how New Statesman Media Group may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications.
THANK YOU

Content from our partners
Resolving the crisis in children’s dentistry
Planetary perspectives: how data can transform disaster response and preparation
How measurement can help turn businesses’ sustainability goals into action