May 25, 2012 • 10:57 am 0
For the one quarter in 2011 where government spending actually rose significantly, it wasmostly reflected in price rises, not an increase in output. Ahem.
There is probably a benign explanation for this; most likely it’s a statistical artefact which will get revised away as the ONS get better data. But it accounts for 1.2% of the 3.7% GDP deflator (annualized rates) in that quarter, which is significant.
Filed under: Economics
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