Yesterday BBC Wales flagged up the Capital Economics report that said Welsh economic growth would average 2.7% a year until 2020.
Growth is better than flatlining, but Wales has the lowest predicted growth of all the UK’s Nations and Regions. Capital Economic predict the UK’s average growth to be 3.8% over 1% more that of Wales a year and were starting from a lower base. It makes Rhodri Morgan’s aim of getting Wales to 90% of UK GDP average look like pipedream.
The 2.7% figures works out at an average of 0.68% a quarter for the next 24 quarters on the face of it a pretty grim outlook for the economy, but of course we don’t know if its normal or above or below the average growth for welsh economy because the Welsh Government doesn’t produce quarterly GDP figures unlike the Scottish or Catalan Governments.
What we will have are the GVA figures for 2012 in December, but in light of these figures from Capital Economics how long can the Welsh Government keep stalling on publishing regular GDP or GVA data on the welsh economy?
Any source
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