UK economic forecasts called into question as ONS data reliability falters

UK economic forecasts called into question as ONS data reliability falters

The credibility of UK economic data has been thrown into doubt after senior officials at the Office for Budget Responsibility (OBR) and the Bank of England raised serious concerns about the reliability of statistics produced by the Office for National Statistics (ONS). Speaking to MPs on the Treasury select committee, Richard Hughes, chairman of the OBR, warned that “trying to get a clear read” on the UK economy from current ONS data is “very di…