Britons have a reputation for endless talk about the weather, and the UK’s Office for National Statistics is no different.
We’ve already noted how the ONS cited the effect of the royal wedding and surrounding bank holidays as one reason why the economy only managed growth of 0.2 percent quarter-on-quarter between March and June.
While that’s taken up most of the talk, the ONS also pointed to the “record warm weather in April” as another “special event” that dented economic growth.
Back in the fourth quarter of last year, when the economy unexpectedly shrank 0.5 percent, the ONS said growth was “clearly affected by the extremely bad weather”.
Does the ONS have a particular temperature in mind that is conducive to economic growth? To paraphrase a British fairy tale: Something not too hot, not too cold, but just right?