Abstract
Welsh Economic Performance: a Challenge, not a Mystery
Highlights
This paper sets out some basic facts on recent Welsh relative economic performance and focuses on the key factors shaping that performance
Disposable income is only one indicator, and as noted above, in order to assess economic performance it is necessary to look at a broader set
In respect of growth in Gross Value Added (GVA) per head, taking the period since devolution in 1999, Figure 1 shows that Wales has almost matched the performance of the UK as a whole, and has the fifth best performance of the twelve UK countries and regions
Summary
Current position Independent bodies, including the ONS in the UK, and the OECD internationally, assess economic performance by reference to a range of indictors rather than by focusing on a single measure They argue that measures of income, rather than output, provide the best overall summary of the economic outcomes as experienced by the resident population. In respect of growth in GVA per head, taking the period since devolution in 1999, Figure 1 shows that Wales has almost matched the performance of the UK as a whole, and has the fifth best performance of the twelve UK countries and regions These data are quite volatile, and so it is important not to over-interpret small differences
Sign-in/Register to view highlights & summary Sign-in/Register to access full text options 
Free) 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a call
