Q4 GDP = 2.8%

We had yet another uninspiring GDP report. The government said the economy grew by 2.8% in the last three months of the year. This was below economists’ expectations of 3% growth. Breaking out the decimals, GDP came very close to being rounded down to 2.7%.

Taking a step back, the numbers are truly depressing. For all of 2011, the economy grew in real terms by just 1.7%. In four years, we’ve grown by a grand total of 0.8%.

The U.S. economy grew less in real terms from 2000 through 2011 than it did from 1996 to 2000. Four years’ growth beat eleven years’.

The economy grew less in the last 30 years than in the 23 years before that, and it grew by less in the last 38 years than in the 26 years before that.

Posted by on January 27th, 2012 at 10:01 am


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