The good news doesn't end there either. You might have thought that, under pressure from the strong pound, the balance of trade plunged into deficit last year and is now heading south at a rate of knots, but it didn't. It barely slipped into deficit at all, and it is now showing a healthy surplus.
What a transformation a different statistic approach can work. Thanks to the bureaucrats of Brussels, the Government is applying for the first time a new system for calculating the national accounts - the European System of Accounts - and, perhaps surprisingly, it reflects rather better on Britain's economic performance than the traditional one.Reuse content