Chart of the week: Back to square one at last

GDP (first quarter 2008=100)

Official figures have confirmed that Britain’s economy has finally made up the ground it lost in the recession, which was the worst plunge and slowest recovery in a century. It is the second-last of the G7 countries to reach this milestone.

Italy is the laggard, with GDP still 9% under the 2008 peak. Meanwhile, Canadian and American economies are respectively 10% and 6% bigger than their pre-crisis highs.