This is a good story in the Telegraph. Check it out!
Personally, I think that this story shows the importance of trying to distinguish between reality, perception and media hype.
Firstly, let’s remember that ONS data is not an exact science and prone to multiple subsequent revisions.
Secondly, it already plainly evident that the policy of austerity in the UK has been overdone and the Government has been seriously light on promoting investment and stimulating growth.
Thirdly, the impact will be distinctly uneven, as has been highlighted frequently in this blog – see Winners and Losers in David Cameron’s Society.