The latest publication from the Office for Budget Responsibility (OBR) is a strange document. It is a Forecast Evaluation Report which examines its series of completely wrong forecasts since it was established. Its firm assessment of these wildly over-optimistic forecasts is that it is not because it underestimated the impact of austerity, but then provides no other explanation for its consistent errors.

Despite this the OBR does provide some useful data on the economy and presents them in a very useful way. Below are a number of graphics taken from the latest publication. Continue reading →