
These have always been curious figures because they are very much rear view economics with what’s happened in the past, influencing the business decisions of the future. However, businesses, economists, politicians and the public pay attention to them as they form one of the key components of the antidote to our economic woes, that great intangible, confidence.
In the second quarter of 2013 the economy grew by 0.7 per cent, which sounds unspectacular, but considering the position the economy has had to recover from after the 2007-8 financial crisis, these are good numbers. If that rate was maintained, we’d achieve annual growth of just under 2.5 per cent, which would be a position we’d be grateful to be in. However, this Friday’s figures for the third quarter may provide a further boost to the economy. Taking my own business as a litmus test, things are feeling more positive. In the same period covered by this week’s GDP figures, we’ve experienced sales growth of between 7.9 per cent and 12.9 per cent during June, July and August. In real terms, this has meant extra sales worth £341,000. As you can imagine, we are proud of our achievement!Share this story