"UK GDP has contracted by 0.7% in the second quarter of 2012, thus bringing the UK into a double dip recession.One month on and, as predicted, it transpires that the ONS figures were of course wrong. Economia reports that the ONS has revised its figures upwards from -0.7% to -0.5%.
However, this figure needs to be taken with a pinch of salt, ONS figures are out of date and are invariably wrong."
As I have noted many times before it is extremely unwise to rely on figures provided by the ONS, they are always out of date and invariably wrong.
