Germany and the U.K. top the list of G7 economies that have seen the largest increases in GDP per capita since the turn of the new millennium, while Italy is the only G7 economy where annual output per person is less than it was in 2000.
Andrew Sentance, an economist who served as a member of the Bank of England’s Monetary Policy Committee from 2006 to 2011 and is now a senior economic adviser to PricewaterhouseCoopers in London, calls this the most important chart of the year.
“Growth in GDP per head is probably the best measure of economic progress over the medium term,” says Sentance. “This chart sums up the ‘New Normal’ for growth in the West. Slow growth is the norm. A successful export-oriented economy like Germany which is tapping into strong growth in Asia and other emerging markets can outperform. And economies with deep-seated structural problems — like France and Italy — are underperforming, in the case of Italy very seriously.”
We asked 113 of our favourite portfolio managers, strategists, analysts, and economists across Wall Street what they thought were the most important charts of 2013. Here’s what they sent us »