Britain’s economy was 2.2% larger at the end of 2023 than immediately before the pandemic, according to revised figures from the Office for National Statistics. The update lifts the previous estimate of 1.9%, suggesting the country’s post-Covid recovery was slightly stronger than earlier thought. The ONS attributed the change to methodological improvements that better capture research-and-development activity and the overseas production of U.K.-based multinationals, which boosted output in pharmaceuticals and manufacturing. Despite the adjustment, the agency said average annual growth since 1998 remains 1.8%, with average quarterly growth still at 0.5%. Separately, the statistics office has delayed publication of its July retail-sales data—originally due on 22 August—until 5 September to conduct “further quality assurance”. The postponement follows earlier suspensions of producer-price and trade figures amid broader concerns about data reliability. Persistent quality issues have drawn criticism from the Bank of England and triggered a government-commissioned review of the ONS this year. Accurate data are central to monetary-policy decisions and to the new administration’s efforts to accelerate economic growth.
📊 Delays in ONS retail sales data highlight ongoing issues in UK economic statistics. Quality assurance matters! #Economy #DataIntegrity #ONS #UKRetail #Statistics https://t.co/gJD5Egvlwf
UK statistics body delays retail sales amid wider quality issues https://t.co/xwTCM0LHsF via @PhilAldrick https://t.co/5xXD2RiVAC
The UK’s Office for National Statistics has delayed its retail sales release scheduled for this Friday by two weeks to conduct “further quality assurance” amid broader concerns about the agency’s data https://t.co/H38JP3p8cv