Fall in UK living standards deeper than thought, ONS reveals

TUC attacks nature of UK economic recovery which revises up pace of growth but revises down household incomes

The UKs fall in living standards has been worse than previously thought, the TUC claimed, after new figures showed a bigger squeeze on households disposable incomes.

The Office for National Statistics published sweeping updates to its previous estimates on the economy on Tuesday that suggested Britain recovered from the recession three-quarters sooner than initial estimates. Its move to new ways of measuring GDP put the size of the economy at 2.7% above its pre-crisis peak in 2008, compared to the previous estimate of 0.2%.

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via Business Feeds

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