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Remember that 2008 was the year when US dollar crashed. €1 was suddenly worth $1.5 or even $1.6. If you look at GDP figures measured in US dollars and use 2008
by jltsiren 3y ago
Remember that 2008 was the year when US dollar crashed. €1 was suddenly worth $1.5 or even $1.6. If you look at GDP figures measured in US dollars and use 2008 as the baseline, you get nonsensical results for almost every country.
Real GDP growth from the 2008 peak to today has been a bit under 15% for the Eurozone and a bit under 35% for the US. The difference comes mostly from the lack of growth in the early 2010s due to the debt crisis and from the impact of the war in Ukraine.
- mytailorisrich 3y agoThe trend is the same and the point is the same: Growth has stalled in Europe for more than a decade (15% in 16 years...) while the US are steaming ahead.