Saturday, August 27, 2011

Economic Recovery...?

The Bureau of Economic Analysis recently revised the US real gross domestic product growth rate downward for second quarter 2011 to an annual rate of 1.0 percent -- to understand how devastating this low rate of growth is for recovery, consider the chart below based on data provided by the Congressional Budget Office.

[click to enlarge]

Simply put, current growth rates in the US do not point toward economic recovery...

Source: Thoma, M (2011, August 27), How Long Will It Take for the Economy to Recover? Economist's View.

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