Still no recession yet. I mentioned it a few weeks ago, but it’s always good to be able to mention it again, and Hot Air has a nice chart of the last few years GDP growth numbers to put it all into perspective.
A 1% annual growth rate won’t excite many people. It follows a quarter with 0.6% growth, making it the weakest two-quarter period in the last four years, as the chart demonstrates. However, this is hardly the worst economy we’ve seen in memory. The 2000-2001 recession and the damage done to the economy after 9/11 was far worse than what we see now. In fact, the slight rebound may indicate that the worst of the slowdown is over and that we may start seeing a return to the stronger growth we have experienced since 2003.
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