[nomadking]

Originally Posted by 1andrew1

Hmm hasn't the £ slumped 15% since the Brexit vote? Isn't the growth rate in the UK now the lowest in the whole of the EU?

That happened because the remainers said it would happen and for NO OTHER REASON. If the money markets are led to believe that everybody else will sell the £, then they are FORCED to sell in order to get the best price. As a result of everybody selling because they were led to believe that everybody else would sell, the price of the £ dropped. A self-fulling prophecy. Similarly if enough people are led to believe the value of a business or currency will rise, they will buy shares/currency, thereby raising the value. Nothing concrete has to happen, merely a strength of belief that something will.

What about the growth rate in the rest of the EU before now? Over a longer period the UK's will still have been better. The RATE of growth will be affected by it's starting point. Starting from a low point will tend to give initial sharp rises, whereas an established growth rate will not continue be so meteoric as a lot of the capacity for growth has already happened.