GDP per capita doesn’t contradict the statements of the sources I posted above since it’s a mean of economic activity and therefore, it does not allow any conclusions to be drawn about winners and losers among social groups after Brexit.
Also interesting you chose ‘fixed 2015 US $’ when this was an all-time-high exchange rate (US $ - £) compared to the one in your selected time frame.
Yes it’s normal and usually makes sense. In this particular case, however, it distorts the data basis, as the UK GDP is valued higher than the two eurozone countries due to the very high reference exchange rate.
And I said ‘you’ because you could have chosen other normalizations as well… yielding a different picture.
For example you could normalize by annual % growth of GDP.
GardenGeek@europe.pub 1 day ago
GDP per capita doesn’t contradict the statements of the sources I posted above since it’s a mean of economic activity and therefore, it does not allow any conclusions to be drawn about winners and losers among social groups after Brexit. Also interesting you chose ‘fixed 2015 US $’ when this was an all-time-high exchange rate (US $ - £) compared to the one in your selected time frame.
cer.eu/…/brexit-four-years-answers-two-trade-para…
federalreserve.gov/…/lessons-from-brexit-on-the-e…
academic.oup.com/oxrep/article/38/1/82/6514758?lo…
…parliament.uk/slowing-economic-growth-brexit-and…
deHaga@feddit.uk 1 day ago
I didn’t choose the measure, the OBR did.
GardenGeek@europe.pub 1 day ago
Yes it’s normal and usually makes sense. In this particular case, however, it distorts the data basis, as the UK GDP is valued higher than the two eurozone countries due to the very high reference exchange rate.
And I said ‘you’ because you could have chosen other normalizations as well… yielding a different picture.
For example you could normalize by annual % growth of GDP.
data.worldbank.org/indicator/NY.GDP.MKTP.KD.ZG?en…
(Side note: Thanks for the source, this database is amazing!)
deHaga@feddit.uk 1 day ago
Unfortunately that’s the only date the source provides on a constant dollar basis.
Using today’s dollar shows the same thing, the UK is not performing any worse than its near peers.
data.worldbank.org/indicator/NY.GDP.PCAP.CD?locat…
To be clear, I’m not suggesting Brexit has been an economic success, it wasn’t an economic decision, it was a political one.