UK officially the worst-performing advanced economy in the world in post-Brexit nosedive

It comes after the UK was outgrowing Germany, Japan and even the US before the Brexit vote last June

LAST UPDATED: 1 Jun, 2017 @ 15:15
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uk-economyTHE UK is now the worst-performing advanced economy in the world.

Britain’s economy has grown by just 0.2% in the first quarter of 2017, the lowest among the G7 group.

Canada, who posted their results yesterday, grew the most in the first three months of this year at 0.9%, confirming the UK’s place at the bottom.

It comes after the UK was outgrowing Germany, Japan and even the US before the Brexit vote last June.

It is now growing at the same rate as Italy’s.

The growth forecast for this year was downgraded at the beginning of May to 1.9% by the Bank of England.

Behind Canada in the number one spot is Germany with 0.6% growth, followed by Japan with 0.5%, France on 0.4% and the US at 0.3%.

While the UK had performed better than expected following the June vote, it has quickly deteriorated in the new year.

A 2.7% inflation hike thanks to a slump in the pound has made imports more expensive, while the price increases are now outpacing wages.

 

 

 

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  1. I need to know who the gorgeous woman is on the advert for “Millions of people are cancelling their cable subscriptions” on the right of these articles :-) Sod the UK we live in Spain now. Relax and enjoy.

  2. @Stefano – schadenfreude? This is the biggest export market for your food and wine industry, a major source of profit for some of your biggest companies, and one of the largest sources of tourists that help maintain the parlous state of the Spanish economy. And the UK has a historically low unemployment rate at the moment – Spain’s remains stubbornly high with a generation of young people scrabbling for work. Schadenfreude???

    • Two questions Malcolm. One, did you actually read this article? Two, are you familiar with the concept of irony?
      Sorry, three, what the hell are you on about?

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