Very busy week and great progress on the scientific financial stability work.
Today managed to get the 50 most recent JCP Questions and Responses online -using a blog format because it's easier and easier to search. It's here if you'd like to look.
The ONS revised Q4 "growth" figures (minus 0.5%) were fractionally downwards, when I was expecting a big increase. But I note that at current market prices the growth was plus 0.4%. The relationship between this and the "chained volume measure" is complex. On average over the last 8 quarters GDP at current market prices has been 0.5% higher than GDP at chained volume (roughly corresponding to 2% inflation) but last Qtr it was apparently 1%.
Manufacturing growth continues to storm (+1.1% in Q4) and I'm still very dubious about the supposed 2.5% fall in construction - though this has been revised upwards from the frankly incredible earlier figure of 3.3%. This may also be behind the 2.5% fall in Gross Fixed Capital Formation. And although the trade deficit widened this was driven mainly by imports of aircraft to beat a change in the VAT rules on 1 Jan.
On a completely different note I was struck by this report in Nature showing that it was still unclear whether the motions in a typical astrophysical disk are stable or unstable. This could have a major influence on the rates of star formation - and of Habitable Earth-Like Planets.