Posts Tagged “hamish mcrae”

The double dip recession that never was?

by Stephen Tall on May 11, 2013

Did the double-dip recession ever happen? It looks increasingly possible that it didn’t — the BBC reports the latest revision to the data: A revision by the Office for National Statistics (ONS) has cast doubt on the UK’s double-dip recession last year. Revised growth estimates now suggest the construction industry shrank in the first quarter […]

“We’re not in recession”. Last July’s headline comes true (belatedly).

by Stephen Tall on October 25, 2012

Four months ago, just after the last set of quarterly figures published by the ONS showed a sharp contraction in the UK economy, I highlighted economist Hamish McRae’s very public assertion that the UK was in actual fact no longer in recession. Pointing to the second-highest rate of job creation ever in the private sector, […]

“We’re not in recession”. And no, that’s not the claim of anyone in the Coalition.

by Stephen Tall on July 26, 2012

Hamish McRae, an economist and associate editor of The Independent, has been claiming for some while now that the official figures aren’t reflecting the reality of the economy. A week ago, he made the bold statement that the UK is not in recession: The British economy is becoming more and more interesting. This week [ie, […]