The UK economy's growth rate has been falling very rapidly for the last 65 years

The previous post looked at the rapid decline in the rate of growth of GDP per capita in the US over the past 65 years. A decline from 2.5% growth per year to 1.2% over 60 years is not slow. In GB, things are much worse. A decline from 2.8% annual growth to 0.8% is almost a disaster. Figure 1 shows the annual growth of GDP per capita, and Figure 2 shows the annual growth rate as a ratio of the annual change to the current level of GDP. GDP per capita has grown from $13,780 in 1960 to $38,407 in 2022. Not very good compared to the US. And there is nothing to add, except that things are still much worse in France. A pleasant consolation.

Figure 1.

Figure 2.