"Revising previous numbers, the Office for National Statistics halved its GDP estimate for April to June this year to just 0.1%"

Note:There is an apparent discrepancy between the factbook's 65.4% of GDP estimate for Canada's debt in 2006, and the 30.2% trumpeted by the Canadian government.

Economic Review - December 2011 Economic commentary on the latest GDP estimate and other ONS economic releases.

Because this value must be subtracted from Gross Output to arrive at GDP, how it is exactly defined and estimated will importantly affect the size of the GDP estimate.

We also have Italy's latest GDP estimate and consumer confidence numbers out of the eurozone - if they are anything like the UK equivalent out overnight they will make grim reading.

The Office for National Statistics halved its GDP estimate for April to June this year to just 0.1% and said household spending dropped 0.8%.

Revising previous numbers, the ONS halved its GDP estimate for April to June this year to just 0.1%, suggesting the economy had little more than flatlined since last autumn.

Similarly, the impact that the depletion of natural resources or increases in pollution can and do have on the future productive capacity of a nation are unaccounted for in traditional GDP estimates.

Before then, we will get the latest UK GDP estimate for the second quarter from the Office for National Statistics at 9.30am, followed by US second-quarter growth figures at 1.30pm.

Inflation numbers are out tomorrow, on Wednesday we have unemployment figures and on Friday the latest GDP estimates, showing how much the economy has grown.