Comment on UK businesses still ‘reluctant to invest’ over Brexit and interest rates

• Syldon@feddit.uk ⁨11⁩ ⁨months⁩ ago

  You don’t get a trend based on data point over 30 days to justify a 3 year period.

  As for GDP which is an accepted way to give an indication on the economy.

  In a tweet following the publication of new gross domestic product (GDP) figures by the Office for National Statistics (ONS), the Conservative Party claimed: “The UK economy recorded the fastest growth in the G7” in 2022.

  This claim was also made by chancellor Jeremy Hunt, who tweeted: “The fact the UK was the fastest growing economy in the G7 last year - as well as avoiding recession - shows our economy is more resilient than many feared.”

  GDP measures the value of goods and services produced in a country, with GDP growth a key measure of the strength of a country’s economy.

  It is true that, when comparing annual GDP in 2022 with 2021, the UK economy grew by 4%—the fastest rate in the G7.

  However, as others have pointed out, when making this comparison it’s worth bearing in mind that in 2021 the economy was still impacted by the Covid-19 pandemic so comparisons with this period are not necessarily the most useful way of assessing recent economic growth.

  Looking at other periods not impacted by the pandemic, the UK’s growth does not compare as favourably to other G7 countries.

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  • bernieecclestoned@sh.itjust.works ⁨11⁩ ⁨months⁩ ago

    UK was second among the large euro countries for GDP per capita pre brexit and still is

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    • Syldon@feddit.uk ⁨11⁩ ⁨months⁩ ago

      And again typical Brexiteer cherry picking. I am bored with you and your gibberish. I doubt anyone is still reading your BS. BB

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      • bernieecclestoned@sh.itjust.works ⁨11⁩ ⁨months⁩ ago

        Lol, cherry picking the largest economies in Europe

        Twat

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