Tuesday, 30 November 2010

No Spin Zone.

The Independent Office for Budget Responsibility published it's fiscal outlook update yesterday. Click here to read the data or here to download the full report as a pdf.

So here is the their summary. No spin.

"The UK economy has recovered more strongly since the spring than the interim OBR expected at the time of the June Budget. GDP growth was greater than expected in both the second and third quarters, while employment has risen (and unemployment has fallen) to levels that the June forecast did not expect until the middle of 2012.

The world economy has also grown more strongly than expected. CPI inflation has remained slightly higher than expected in June, while the public finances have performed broadly as anticipated. Interest rates on UK government debt are lower than in June, but have risen since August."