Using Q2 GDP as the basis, then Britain is just behind the US and Italy in GDP growth figures. But if you used the first half figures, Britain would be the third weakest.
It’s a measure of just how weak the Group of the richest industrialised nations (G7) is that Britain with its paltry 0.2% growth, can proudly say that it’s on the podium for growth among its peers. That the gold medal would go to all but bankrupt Italy and that Germany and Japan are amongst the weakest, shows that the global economy is in a very strange place.
GDP growth Q2 Q1
UK 0.2% 0.5%
Canada -0.1% 0.9%
Germany 0.1% 1.3%
France 0.0% 0.9%
USA 0.3%*** (1.3% annualised)
Japan -0.5% -0.9%
Italy 0.3% 0.1%
***The figure for the USA is difficult because they only publish an annualised figure and simply dividing by 4 is not accurate for a quarterly figure
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