Modern Western economies have developed a monthly obsession with a small number of economic indicators. An important question is how we want our economy to be directed and what should benefit economic output.
Delivering good growth in the UK economy will mean less obsessing over traditional measures like GDP, to focus on wellbeing, social equity and environmental sustainability. It is an approach that ensures the benefits of economic output are more broadly shared and growth does not damage the planet. Moving even part-way along this approach requires a fundamental shift in mindset more than policy.
