The last few months have seen continuing volatility in Britain’s economic data. After a fall of in the fourth quarter of last year, GDP has risen by the same amount in the first quarter of this year. So over the two quarters taken together there has been no economic growth – an outcome weaker than many people, including me, had expected two or three months ago, but nevertheless one which has not fulfilled fears of a new contraction. The inflation rate moved sharply higher in January, under the influence of the increase in VAT. And.
