Readers Question I was wondering if you have any graphs plotting UK GDP and Unemployment against other economies which have monetary independence and their own currency. I often see graphs comparing the US with the UK. Are there any which include Sweden, Norway, Switzerland and other countries?
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Economic growth rates for selected countries.
- Australia has weathered the global recession well. Helped by strength of its commodity export market.
- Sweden experienced one of the deepest recession (-5.0% in 2009), but also one of the quickest recoveries with very strong growth since 2010.
- The Eurozone went back into recession in 2012, and the growth forecasts for 2013 may prove over-optimistic.
- The Eurozone has a higher average rate of unemployment than other European countries outside the Euro.
- Since 2012, Eurozone unemployment has deteriorated – especially in southern Europe.
- Unemployment rates in other selected economies have done well.
The UK’s economic performance suggests it is one of the poorest performing economies outside the Eurozone.
Source of graphs: OECD Statistics