This article is published as part of the ONS Measuring National
Well-being Programme. The programme aims to produce accepted and
trusted measures of the well-being of the nation - how the UK as
a whole is doing. This article focuses on one aspect of well-
being, the economy, and is part of a series which aims to
explore in more detail the different domains that have been
considered as important for the measurement of national well-
being. The article describes how economic well-being has evolved
over the last decade and focuses on the period beginning with
the 2008 recession. The economy is the set of activities related
to the production and distribution of goods and services. Its
performance will impact on all of us financially and therefore
affect our personal well-being. The article does not focus on
gross domestic product (GDP), but rather uses GDP as a reference
point before explaining, and then analysing, economic indicators
that give a better insight into the material well-being of the
UK and its househo