Britain is not just out of recession. It is out of recession with a bang.The economic growth reported this morning by the Office for National Statistics is not just faster than most economists expected, it's also the fastest growth we've seen since the tailend of the pandemic, when the UK was bouncing back from lockdown. But, more than that, there are three other facts that the prime minister and chancellor will be gleeful about .
So too is gross domestic product per head - the number you get when you divide our national income by every person in the country. After seven years without any growth, GDP per head rose by 0.4% in the first quarter. And since GDP per head is a better yardstick for the 'feelgood factor', perhaps this means people will finally start to feel better off.But this is where the problems come in.