In the daily chart for February 23rd, The Economist analyzed various economic
indicators to determine how many years were lost to the financial crisis of
2008. The data covers economic
output, wealth, and labor markets.
With these figures, The Economist calculates,
in economic terms, what year each country is in. For instance, the United States’ GDP per person was higher
in 2005 than it is today, its main stock market index is lower today than in
1999, and based on all the indicators, the nation has traveled back in time
roughly ten years. The worst
performing country of all those considered was Greece; based on the indicators,
the country would just be reaching the new millennium. Of course, as lawmakers in Greece fight
to alleviate the effects of the debt crisis, reaching the millennium in
economic terms may still be quite a struggle. Germany has weathered the storm best of all the countries
evaluated; the financial crisis has set the country back to approximately 2009.
About TeachingwithData.org
TeachingWithData.org is a partnership between the Inter-university Consortium for Political and Social Research (ICPSR) and the Social Science Data Analysis Network (SSDAN), both at the University of Michigan. The project is funded by NSF Award 0840642, George Alter (ICPSR), PI and William Frey (SSDAN), co-PI.
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