The economy is growing, but we have to cut the jobless rate before we talk of recovery
When will we know if there has been a recovery?
Minister after minister repeats a version of this line: people don't feel the recovery, which is surely happening, in their pockets. We will introduce policies in the forthcoming Budget to help them feel the recovery.
Beyond the frankly gruesome semantics of statements like these, there is a truth being expressed by the various government flak-takers that economic growth is something experienced qualitatively, in holidays families can afford and cars they can now afford to service, rather than quantitatively, which is how nerds like me experience it.