Outperforming the EU? You bet we are and dont you ever forget it Rejoiners

Graham Charles Lear
3 min readJan 6, 2024

The Eurozone is tanking while Brexit Britain is banking it in

The well-respected Standard & Poors global index for what is known as the composite Purchasing Managers’ Index — covering both manufacturing and services — rose to 52.1 for the UK in December, up from 50.7 in November.

This was the best performance of all the world’s major economies. A reading above 50 indicates growth.

Conversely, the Eurozone as a whole continues to be in negative territory and is headed for recession — defined as two successive quarters of falling output.

S&P Global PMI, December 2023

  • UK: 52.1 (indicating growth)
  • Eurozone: 47.6 (indicating recession)

[Source: S&P Global Purchasing Managers Index.]

Brexit Britain ended on a high at the close of 2023 but the Eurozone continued its fall

The United Kingdom’s economy outperformed that of the Eurozone throughout most of 2023 and indications are that it will continue to do so.

A ‘Purchasing Managers Index’ (PMI) might sound technical but it really isn’t. In short, the respected S&P Global PMI gives early warning to governments and the markets as to which economies are rising and which are expected to fall. It does not replace the official GDP figures for each country but it is usually a fairly reliable indicator of the direction of travel, ahead of the official figures.

Readers will know that there are perhaps rough seas ahead. This is no more true than in the Red Sea — the route to the Suez Canal — where Houthi militants backed by Iran are attacking allied shipping. This is forcing many major shipping companies to divert their container ships via the Horn of Africa, adding around 40 days to their journeys. The costs of this will impact all European countries.

Inflation is already rising again in the EU

Following the gradual reduction in inflation rates across Europe last year, many thought this trend would continue. Not so.

The latest official figures released this week for the EU’s Top 2 economies show

  • Germany: inflation up from 3.2% to 3.7%
  • France: inflation up from 3.5% to 3.7%

Our perpetually gloomy state broadcaster, the BBC, continues to depress the populace with its stories of doctors’ strikes, flooding, etc.

What it fails to mention is the state of play in the EU. Doctors are currently on strike in Germany and massive floods are affecting many regions there. The BBC doesn’t like to report on such things because it doesn’t suit their pro-EU agenda.

Doctors’ strike

We must say something about this. The BMA should be ashamed of itself. There is no question but that the current doctors’ strike will cost lives. These doctors swore an oath “to do no harm”. Quite how they can reconcile this with the deaths that will be caused by their unwillingness to work is entirely beyond me.

We all have a choice. We can work in our chosen profession or choose a different one. The country has invested huge sums in training the best doctors in the world. If they don’t appreciate this we suggest they pay back the money invested in their training and do something else.

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Graham Charles Lear

What is life without a little controversy in it? Quite boring and sterile would be my answer.