Some good economic news across the pond today, as surprisingly strong growth from Old Europe is sustaining global expansion in the face of a weak American economy. Indeed, Europe's year-to-year trends are looking pretty good:
Meanwhile, Dean Baker makes an interesting point on how we calculate this stuff, noting that GDP-per-capita actually shows Europe pulling even with us. The straight GDP growth count takes in population and labor force growth, which Europe has very little of. I also hadn't realized Europe's economy outpaced ours in total, though it's certainly true that the NAFTA region would dwarf Europe.
