The UK’s money troubles spread from inflation and higher interest rates to sluggish productivity. But how do we compare with our European neighbours?
Dire, grim, dismal: all words used to describe the UK’s economic situation after Thursday’s autumn statement.
In recent decades, the UK’s GDP growth averaged somewhere between the higher rate of the US and the lower rate in the eurozone. That’s starting to change, Carsten Brzeski, global head of macroeconomics for ING Research, told the Observer. “It took Brexit for the UK to converge with the eurozone economy,” he said. “The outlook is very similar to what we’re seeing in continental Europe.”
