Premium
Activity
Publication year - 2013
Publication title -
economic outlook
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.1
H-Index - 8
eISSN - 1468-0319
pISSN - 0140-489X
DOI - 10.1111/1468-0319.12015
Subject(s) - recession , pace , economics , productivity , keynesian economics , meaning (existential) , monetary economics , macroeconomics , philosophy , geography , geodesy , epistemology
The ONS' latest National Accounts release revealed that real GDP is now estimated to have fallen by 7.2% during the recession, compared with the previous estimate of 6.3%. And the pace of the subsequent recovery has been scaled back slightly, meaning that the economy is now 3.9% below its peak rather than 2.6%. Given that employment is already above its pre‐recession peak, these revisions make the so‐called ‘productivity puzzle’ even more baffling…