Chart of the week: Britain’s neolithic statistics

GDP revisions chart

“In this era of Big Data, UK statistics-gathering is neolithic,” writes Philip Aldrick in The Times. Data on inflation is “collected by researchers wandering around shops with a clipboard”. Employment figures rely on household questionnaires.

So it’s no surprise that official statistics are subject to substantial revisions many years after they were first published, as shown by this chart of the latest revisions to GDP growth rates.