Recent discussion has emphasized the importance of assessments of clinical significance of outcome in treatment outcome studies. Several methods exist to assess clinical significance, one of which is the use of global ratings of outcome. This study reports the use of such measures in a treatment outcome study investigating pharmacological and psychological treatments for panic disorder and agoraphobia in primary care. Outcome is reported in terms of global ratings of symptom severity and of change in symptoms following treatment, completed by the psychologist, referring General Practitioners (GPs) and patients. Treatments involving cognitive behaviour therapy showed greater efficacy than those employing pharmacological treatments alone. Considerable agreement was demonstrated between psychologist and patient ratings. Such agreement was much less obvious for ratings completed by referring GPs. Possible reasons for this are advanced.