Daily Management Review

U.K Growth Rates Show ‘Upwards Revision’, Says O.N.S


The O.N.S data reveal that the growth figures of the U.K are showing “upwards revision” in a significant manner.

Dailymanagementreview.com – 25 September 2015 – O.N.S data is out which brings good news to United Kingdom. The quarterly report of the “Office for National Statistics” or the O.N.S has been released whereby the growth figured of the year of 2011 to the year 2013 has been set for “a significant upwards revision”.
There are expectations that the figure that are going to be revealed on Wednesday, whereby they will deal with the results of the year 2013, will bear a growth percentage of “2.2%” as compared to the estimate figures of the year before which were said to be “1.7%”.
Furthermore, the figures of year will also undergo change after a revised version, wherein the amount will be raised to “1.2%” as oppose to the earlier figure of “0.7%”.
As per the reports of Sunday Times, the growth rates of the year 2011 will be revealed at a revised rate of “2%” while the previous figures showed at “1.6%” as:
“...it was thought to have increased”.
In fact, the previous year’s data also needs to be revised whereby increasing the margins, as it is expected to be raised “upwards”.
The pressure of cutting down expenses that is imposed on the chancellor, would be reduced by the revised figures, thus the change would prove to be “welcome news” for him, whereas the reading of the second quarter “is set to be confirmed at 0.7%”.