Good morning, and welcome to our coverage of today’s big economic story – whether the UK is still officially in recession.
In just under an hour’s time we’ll find out just how well the economy is doing with what’s known as the GDP figures, or Gross Domestic Product.
GDP, which broadly covers economic growth, measures the value of goods and services that the UK produces. It’s measured by looking at output, expenditure and income.
Basically, when the number rises it means the economy’s doing well – and when it falls it’s doing badly.
GDP matters because it influences how businesses act, how the government chooses to set its tax and spending policies, and what the Bank of England does with its interest rates.
We’ll get the latest figures from the Office for National Statistics at 07:00 BST. Stick with us for the announcement, as well as reaction and analysis from our experts.
Credit: Source link
