"It is the duty of the Office to examine and report on the sustainability of the public finances"
Next year’s Forecast evaluation report will look back at what will probably be the largest official economic forecast errors ever, reflecting the full effect of the coronavirus pandemic on the economy and public finances in 2020-21. In this year’s brief report, we look back at our March 2018 and March 2019 forecasts for 2019-20. Both…
Our annual Forecast evaluation report (FER), examines how our forecasts compare to subsequent outturn data and identifies lessons for future forecasts. This time we have streamlined the FER to focus on how our March 2018 and March 2019 economy and fiscal forecasts for 2019-20 fared against the outturns. The report will be published here on…
Our first post-referendum forecast – from November 2016 – has performed remarkably well for GDP growth in the period since mid-2016. But despite that we overestimated borrowing in 2018-19 – because the public finances at the time of the referendum were in better shape than the available data suggested. Read more about the Welfare trends report…