Is the UK economy in the slow lane?

18 October 2017
What was claimed

UK growth is currently the slowest among the 10 largest EU economies.

Our verdict

UK growth is the slowest among all EU economies over the last quarter. Over the last year, of the ten largest EU economies the UK has grown the 8th fastest.

“Under this Prime Minister, we have a weak economy. UK growth is currently the worst amongst the 10 largest EU economies.”

Jeremy Corbyn, 18 October 2017

 “The UK experienced the slowest growth (0.3%) among European and Group of Seven (G7) countries” from April to June this year, according to the Office for National Statistics.

“This is the second consecutive quarter in which the UK has had the weakest economic growth of these countries, as during Quarter 1 (Jan to Mar) 2017 the UK experienced 0.3% growth, joint slowest with Japan and the USA.”

The Labour Party told us that Mr Corbyn’s claim came from a Guardian article. The article says the UK had the slowest growth in the whole of the EU, not just the among the ten biggest EU economies, according to official EU figures, but the figures were for January to March this year.

We can also measure growth over the course of a whole year, comparing the size of the economy in the latest quarter to the same quarter from the year before.

The UK’s growth in the last year stands at 1.7%. This is higher than Belgium’s (1.4%) and Italy’s (1.5%), but lower than the other seven top-ten EU economies, according to EU figures.

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