Comment by Rexxar
7 months ago
> US is now only 65% and shrinking.
It's a fake news that just don't take into account on currency value change (euro has lost some value between 2019 and 2024). But if you look really want to look at it this way, I have a bad news for new: USA has shrink 15% since January compared to Europe as EUR go from 1$ to 1.15$.
If we look at GDP at purchasing power parity from 2007 to 2023 we have this:
- European Union: 31,162 => 61,217, +96% (https://data.worldbank.org/indicator/NY.GDP.PCAP.PP.CD?locat...)
- USA: 48,050 => 82,769, +72% (https://data.worldbank.org/indicator/NY.GDP.PCAP.PP.CD?locat...)
Which shows a slight catching-up by the European Union over the period.
>GDP per capita, PPP (current international $)
In other words, it's already been adjusted for exchange rates. If you adjust for today's USD/EUR exchange rate, you're double-adjusting it. The US dollar has dropped in the recent months, and much of that is arguably due to bad decision making by the current administration, but it hardly refutes the claim that US growth has outpaced EU growth for the few decades.