As the world economy hovers close to another growth crisis, European statisticians have quietly admitted that the last recession was not quite as bad as they made us believe. The European Commission’s statistical agency has just released revised economic growth figures for the period 1997-2013 http://epp.eurostat.ec.europa.eu/cache/ITY_PUBLIC/2-17102014-BP/EN/2-17102014-BP-EN.PDF). Whilst they try to play down the overall impact […]
