{"id":67436,"date":"2023-02-10T08:14:36","date_gmt":"2023-02-10T08:14:36","guid":{"rendered":"https:\/\/www.taxresearch.org.uk\/Blog\/?p=67436"},"modified":"2023-02-10T08:14:36","modified_gmt":"2023-02-10T08:14:36","slug":"anyone-who-seriously-thinks-gdp-measures-prove-that-the-country-is-succeeding-economically-is-seriously-economically-deluded","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2023\/02\/10\/anyone-who-seriously-thinks-gdp-measures-prove-that-the-country-is-succeeding-economically-is-seriously-economically-deluded\/","title":{"rendered":"Anyone who seriously thinks GDP measures prove that the country is succeeding economically is seriously economically deluded"},"content":{"rendered":"<p>The media is celebrating the fact that technically the UK is not in recession this morning as a result of the gross domestic product (GDP) data published <a href=\"https:\/\/www.taxresearch.org.uk\/Blog\/2023\/02\/10\/flatlining\/\" target=\"_blank\" rel=\"noopener noreferrer\">\u00a0by the ONS<\/a> that shows that the economy is flatlining instead.<\/p>\n<p>I have already <a href=\"https:\/\/www.taxresearch.org.uk\/Blog\/2023\/02\/10\/67433\/\" target=\"_blank\" rel=\"noopener noreferrer\">published<\/a> a brief, but I think appropriate, summary of GDP this morning, suggesting the serious limitations in its calculation.<\/p>\n<p>I had this to say on Twitter this morning:<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-67437\" src=\"https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2023\/02\/119C980D-BF46-460D-BE4B-F47FA175B120-550x289.jpeg\" alt=\"\" width=\"550\" height=\"289\" srcset=\"https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2023\/02\/119C980D-BF46-460D-BE4B-F47FA175B120-550x289.jpeg 550w, https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2023\/02\/119C980D-BF46-460D-BE4B-F47FA175B120-768x403.jpeg 768w, https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2023\/02\/119C980D-BF46-460D-BE4B-F47FA175B120-600x315.jpeg 600w, https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2023\/02\/119C980D-BF46-460D-BE4B-F47FA175B120.jpeg 1374w\" sizes=\"auto, (max-width: 550px) 100vw, 550px\" \/><\/p>\n<p>Anyone who seriously thinks GDP measures prove that the country is succeeding economically is seriously economically deluded.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The media is celebrating the fact that technically the UK is not in recession this morning as a result of the gross domestic product (GDP)<br \/><a class=\"moretag\" href=\"https:\/\/www.taxresearch.org.uk\/Blog\/2023\/02\/10\/anyone-who-seriously-thinks-gdp-measures-prove-that-the-country-is-succeeding-economically-is-seriously-economically-deluded\/\"><em> Read the full article&#8230;<\/em><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35],"tags":[],"class_list":["post-67436","post","type-post","status-publish","format-standard","hentry","category-economics"],"_links":{"self":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/67436","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/comments?post=67436"}],"version-history":[{"count":0,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/67436\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/media?parent=67436"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/categories?post=67436"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/tags?post=67436"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}