UK Suffered more Years in Recession as an EU Member

UK Suffered more Years in Recession as an EU Member

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UK was the 6th largest economy when the UK joined the EU. UK’s placing has moved around the 5th/6th place over the past 4 decades, but overall not a lot changed: sometimes the UK is the 5th and other times it’s France, in GDP terms the two economies over time are equal.

This suggests the UK hasn’t suffered or performed exceptionally well economically, basically it’s done OK. That being said the UK (and France) have underperformed economically when compared to Germany, the German economy has performed exceptionally well as an EU member.

In the 45 years before the UK joined the EU the UK economy suffered 4 quarters (one year) in recession. In the 45 years since joining the EU the UK economy suffered 20 quarters (five years) in recession.

I’m not blaming the EU for UK recessions, just showing the narrative EU membership is awesome for the UK economically isn’t straightforward.

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