Twin Peaks for the UK Economy

Newnight's Economics Editor Duncan Weldon looks at prospects for the UK economy.

How well the economy is doing depends on where you look. Unemployment is falling but real wages for people in work are stagnant or falling.

And the productivity gap between the UK and the rest of the world is widening once more. Newly-released data shows that output per hour in the UK was 17 percentage points below the average for the rest of the major G7 industrialised economies in 2013, the widest productivity gap since 1992.