UK GDP per capita, the most common measure of economic well-being, is now the lowest it has been since Q4 2003. I calculate in Q1 2012 it was £5,577 per head, just below the £5,584 per head it was in Q1 2004, eight years ago. It is 7% lower than at its peak in Q4 2007, but 1% higher than its low, at the peak of the recession in early 2009.
Note these are my own calculations using real GDP and population, of which 2011/2012 is projection.
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