Obama vs Osborne – we’re still miles behind the US recovery

George Osborne might want to wrap up the victory lap he’s been doing since yesterday’s GDP figures were released. Compared to the US economy, we’ve hardly had any growth at all.

Here’s the UK economy compared to the US over the last 12 months:

The last twelve months have been tough though, so lets take a longer view. here’s the last 24 months:

Oh dear. Well at least we’re nearing our pre crisis peak, aren’t we? No. We’re still way behind, and the US is way ahead: