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G7 GDP then and now

Monday, 22 September 2014


Most countries have seen slower growth this side of the crisis. Italy is the only G7 economy to have contracted over the past five years. Canadian growth has largely been the same, a little above 13% over both periods. Germany is also an exception in that growth over the past five years has been stronger than the five-year period through the end 2007 (10.4% vs 9.1%). The biggest slowdown has been experienced in the UK. In the five years through the end of 2007, the UK economy expanded by a cumulative 17.2%. Over the last five years, the pace has been more than halved to 8%. The slowdown of the US is notable. In the five years prior to the crisis, it expanded by 15.6%, but in the most recent five-year period it has grown by 11.4%. Although many bemoan the sluggishness of the US economy, the pace of growth in the recent period is greater than Italy, France, Japan and Germany experienced in the five-year period before the crisis. There are many metrics for growth, and the appropriateness of any one measure depends on the question one is asking, according to seekingalpha.com