Dec
03

Listless London

Superficially, Great Britain looks good despite Brexit. Unemployment is near a record low, wages are increasing at their fastest pace in a decade, and a huge budget deficit has shrunk. However, best estimates suggest UK GDP is 2% smaller than had voters chosen to Remain. Why? Labor force growth has shrunk from 1.2%/year to 0.4%/year, and investment in the UK has shrunk from 25% of all EU investment to 18%.

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