The UK recovery compared

I’ve just got back from my Christmas holidays. I spent two weeks in Croatia (the EU’s newest member, 2013). It was very beautiful by the coast, if somewhat cold.

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Just like students find it hard to write the first essay after a three week holiday, I also struggle to get into the flow of economics after a long break.

To help ease back into the flow, I shall borrow a couple of graphs from the internet

A graph tells us a lot, but can also open up many questions.

Firstly economic growth in UK compared to France and the US

uk-growth-fr-us

Via P. Krugman and How good has UK recovery been? at Mainly Macro.

See also UK vs France recovery from Jan 2015.

Good recovery in past 12 months, but since 2007, UK recovery looks less spectacular. Also, note this graph is GDP per capita – the UK population has been rising, which makes GDP per capita less impressive than raw real GDP.

Also record of austerity

govt-spending-growth

Austerity record, Krugman.

More blogs in the coming days. Questions welcome as usual

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