Revised UK Economic Data and Its Implications

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The chapter discusses revisions made to the UK's GDP data for 2020 and 2021, revealing a faster recovery from the pandemic and changes in the country's position relative to other G7 economies. The revisions reflect shifts in firms' inventory levels and profit margins, leading to significant changes in the headline numbers. The chapter also explores the potential for similar revisions in economic data in other countries.

The retail behemoth is splashing tremendous amounts of cash on streaming content; critics are unimpressed with the outcomes. But Amazon may have the best business model going. Statisticians in Britain appear to have found about 2% of GDP hiding in their data—we ask how it got lost (8:24). And how the pocket calculator ushered in the digital age (15:52).

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