Lies, damn lies and statistics ...
GDP growth looks set to hit the bottom end of the chancellor's 2%-2.5% Budget forecast in 2003, but what about 2004? In his pre-Budget report, the chancellor stuck to his earlier forecast that growth next year would be around 3%-3.5%. This is based on the view that, while consumer-spending growth will moderate, this will be offset by a revival in investment and exports, and strong growth in public spending.