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By Harvey Cole   January 2003

Disparaging comparisons are often made between economic growth in the US and the Eurozone. On the face of it, the figures don’t look pretty. Official projections for 2002 and the next two years are: US, 2.3 per cent, 2.6 per cent and 3.6 per cent; Eurozone, 0.8 per cent, 1.8 per cent and 2.7 per cent. It looks like an easy win for the US. But the figures do not reflect the fact that the US population is growing by more than 1 per cent a year, while Europe’s is static (falling in Italy and Spain). So output per person…

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