UK now the worst-performing advanced economy in the world after post-Brexit vote slump

[Morgen]

[QUOTE]The UK is now the worst-performing advanced economy in the world, with growth slumping to just 0.2 per cent in the first three months of the year.

It means Britain is bottom of the G7 group of advanced economies, while Canada has surged to the top, with an expansion of 0.9 per cent in the period.

After Canada became the last G7 nation to report figures on Wednesday, the UK’s position at the bottom of the list was confirmed.[/QUOTE]
[url]http://www.independent.co.uk/news/business/news/uk-worst-performing-advanced-economy-world-post-brexit-slump-election-pound-sterling-a7766286.html[/url]

This is Tory policy for you. "Judge us on our record" lmao.

Think this is on a bit of a weird fringe between poldicks and sensationalist headlines?

[Firewarrior]

So.. actually the worst performing of the G7 countries, not of all advanced economies? Or am I missing something?

[Big D Duchovny]

Doesn't quarterly growth vary by quite a lot, though?

[Anteep]

It's pretty shameful that we're now next to Italy in growth statistics although let's not forget we were once behind Italy in terms of economics several decades ago. Regardless in this day and age, Italy has a long-term problem, we have a short-term problem.

The conservatives won't do much to remedy this situation though; their track record on the economy has been enormously pathetic these past 7 years. Debt, productivity, wages, inflation, poverty, services all terrible under their leadership - now if only we could give them the boot we can start tackling all these issues.

[Cloak_Raider]

[QUOTE=Firewarrior;52299276]So.. actually the worst performing of the G7 countries, not of all advanced economies? Or am I missing something?[/QUOTE]

the G7 is defined by the IMF as the 7 major advanced economies

[Fulcrum]

"the british economy was over valued anyway"

[Firewarrior]

[QUOTE=Cloak Raider;52299710]the G7 is defined by the IMF as the 7 major advanced economies[/QUOTE]
Yes, major. The headline however says "worst-performing advanced economy in the world" and there are more than those 7 advanced economies

Just misleading and that annoys me.

Kind of funny though, just last or two year/s ago the Brits were claiming they'd overtake the German economy in some years, going by the predictions back then. Shows how fast things can change and how you just can't predict economic growth.

[Anteep]

[QUOTE=Firewarrior;52299902]Yes, major. The headline however says "worst-performing advanced economy in the world" and there are more than those 7 advanced economies

Just misleading and that annoys me.

Kind of funny though, just last or two year/s ago the Brits were claiming they'd overtake the German economy in some years, going by the predictions back then. Shows how fast things can change and how you just can't predict economic growth.[/QUOTE]

Actually, the predictions you mentioned rely on the population increasing in the UK while decreasing in Germany, until the year 2050.

The UK and Germany are still on that trajectory as of this moment.

[Bob The Knob]

Wonder if Brexit has not just caused Britain's growth to drop, but cause other countries' to rise?

[Anteep]

[QUOTE=Bob The Knob;52299923]Wonder if Brexit has not just caused Britain's growth to drop, but cause other countries' to rise?[/QUOTE]

The main argument for that would be that any investment that would have occured in the UK were it not for brexit instead occured in other countries.

But that factor would have to be so great to offset other factors, such as reduced trade with the UK, and overall that is unlikely.