Second-Quarter Growth in Selected Industrial Economies

August 30, 2017

United States: A 3.3% rise of personal consumption on a seasonally adjusted annualized rate (SAAR) accounted for 76% of the 3.0% SAAR advance of real GDP. Net exports and non-residential business investment increased, too, and made a collective 1.1 percentage point (ppt) contribution to GDP, while government spending slid 0.3% SAAR on quarter and by […] More

New Labour’s Legacy

May 12, 2010

Over the thirteen years that the Labour Party governed Britain, real GDP rose some 2.0% per annum, but that pace improves to 2.9% per annum if one only counts the first 11 years and excludes last year’s decline of 4.9% and a rise of merely 0.5% in 2008.  Consumer price inflation averaged roughly 1.75% per […] More

British Economic Growth Dissected

March 30, 2010

The Great Recession knocked the stuffing out of the British economy, depressing real GDP by 6.2% between the first quarter of 2008 and the third quarter of 2009.  The U.K. had been one of the Group of Seven’s more vibrant economies earlier last decade, expanding at a 2.7% pace over the period’s first eight years […] More

U.S., Japanese, Ezone, and British GDP Growth in 4Q09

March 11, 2010

With revised Japanese figures out today, a reasonably representative comparison of growth in the four main advanced economies last quarter can be made and are summarized below, where C is personal consumption, I is business investment, G is government expenditures, and X represents exports.  The percentage changes conform to the U.S. custom of annualization, that […] More