U.K. Revisions Show Much Healthier Economy. What It Means for Investors.
The UK statistics office has made significant revisions to growth data, revealing a much healthier economy, which could have positive implications for investors.
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Posted 9/4/2023, 2:12:00 PM
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Revisions to economic data by the Office for National Statistics (ONS) have revealed that the UK economy was 0.6% larger at the end of 2021 than previously estimated, improving the country's performance relative to its peers in the G7. The revisions also highlight the impact of stockpiling in 2020 and indicate stronger growth in 2021, particularly in sectors such as wholesale trade and health services. However, while the revisions provide a more positive outlook, the UK's economic narrative remains relatively mediocre compared to pre-pandemic levels.
The UK's statistics office has requested earlier access to key economic data in order to provide a more timely and comprehensive picture of the economy, following a recent surprise revision of its estimate of the size of the economy at the end of 2021.