Massive GDP revisions in the U.K. have changed the outlook
The U.K. was believed to be a massive underperformer in terms of the economic recovery following COVID. The latest GDP numbers showed that the U.K. economy was still slightly below 2019 levels in the second half of this year.
However, this narrative has completely changed now as the ONS recently published a special report that revised the GDP numbers for the last few years. It turns out the extremely volatile macroeconomic environment during the COVID years also increased measurement errors in official data.
The latest revisions now show that