Less Than 1 Percent Growth Is Somehow Good News for the U.K., Sort Of

A blog about business and economics.
Oct. 25 2013 11:12 AM

Less Than 1 Percent Growth Is Somehow Good News for the U.K., Sort Of

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London, capital of the 0.8 percent.

Photo by Dan Kitwood/Getty Images

Matthew Yglesias is on vacation. 

The United Kingdom’s Office for National Statistics has announced a 0.8 percent increase in economic output between July and September (the third quarter). It follows a 0.7 percent increase in GDP from the previous quarter, and it is also the second strongest for the U.K. since 2008. Growth in services accounted for the vast majority of the increase.

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The relatively good yet totally tepid figures should help America feel slightly little better about its own soft numbers and its recent debt ceiling disaster. Unfortunately for the U.K., GDP is still significantly below precrash numbers, while our output exceeded our precrash peak in 2011.

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For yet more warm and fuzzy thoughts about America as compared to its colonial forebear, enjoy this graph.
 
 
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