Growth is finally gathering steam in Britain, but a comparison of our recent GDP bounce with those of other major economies shows just how far we still have to go.
After a 7.2% slump in output by mid-2009, we are still slightly more than 1% off the pre-crisis peak. The US and German economies are already 6% and 3% bigger respectively. Even France, the “sick man of Europe”, is nearly back to par.
Still, at current rates, we should finally get there by the summer.