Post by R. Mark Clayton
Brestremists keep claiming that despite masses of evidence that Brexit
has not already harmed the UK economy and implausibly that it will not
damage it in future, but then along comes: -
"UK one of worst-performing economies in world since 2017 election, figures reveal"
"FINANCIAL TIMES Tuesday August 20 2019
Germany likely to tip into recession, Bundesbank warns
Economy has gone from being the powerhouse of the region to one of its
"FINANCIAL TIMES Monday August 12 2019
Job cuts at German investment banks near 30,000 as outlook deteriorates
Deutsche Bank accounts for more than half the total as trading desks are
30 May 2019
"Data released 10th May 2019 by the Office of National Statistics (ONS)
shows the 2018/19 financial year was a record-breaking year for UK
exports, as they reached £639.9 billion. Total exports grew at a rate
of 3.0% and increased by £18.5 billion compared to the 2017/18
financial year. ...
Separate data published by the Organisation for Economic Co- operation
(OECD) showed between 2016 and 2018, UK total exports grew at 13.8%,
faster than Germany (10.5%), France (10.1%) and Italy (11.4%). The OECD
data also showed UK export growth was faster than the overall rate for
the European Union (11.9%).
... Not only are UK exports booming, but foreign direct investment (FDI)
into the UK is also at a record high. Data released by the OECD last
week showed UK inwards investment stock in 2018 increased by 5% to
£1,400 billion. The figures confirm the UK as the leading destination
for FDI in Europe, and the third most significant in the world."
FT 16 April 2018 "... The latest nowcast results for the eurozone
suggest that activity growth has dropped to only 1.2 per cent in early
April, with each of the major economies experiencing a sharp decline in
growth. Even Germany, which was relatively immune from previous European
downturns has recorded a very sharp dip, with growth now down to only
around 1 per cent. ... This slowdown has come as a definite surprise to
the ECB forecasters, who expected the growth rate to slow only slightly
in the course of 2018."
"18 June 2017 - UK export growth has outperformed both Germany
and France for five consecutive quarters, according to the latest
European Export Index by accountants and business advisers BDO
LLP. The Index – which tracks the export performance of the five
largest European economies and the European Union on a quarterly
basis – reveals that total UK exports are growing at a faster rate than
exports in both Germany and France."