Economy grows faster under experimental estimates by ONS

The economy grew slightly quicker than first thought in recent decades under new experimental GDP estimates revealed by the Office for National Statistics (ONS). A “step change” in how the official statistics body calculates GDP figures means the economy grew by an average of 2.1pc every year between 1997 and 2018, a small upgrade from the previous 2pc rise in GDP estimated. The ONS, which first unveiled plans to transform how it calculates GDP in 2018, said the updated estimates use