This new piece of analysis from NIESR (UK) makes the point based on prior recessions, that 20 – 30 months are left, at a minimum, before we get close to where GDP was before this recession period began. This point gets lots when the only measurement that media speak of is the last quarters +/-. What matters is where we are relative to where we began, and there a long way to go. http://www.niesr.ac.uk/ Our monthly estimates of GDP suggest that output grew by 0.3 per cent in the three months ending in December, following on from a growth of … Continue reading Biggest Contraction since 1921 | NIESR UK