GDP growth not good enough in Q3
I'm trying to find an elegant way to say GDP growth sucked in the third quarter. Maybe "GDP growth modestly underperformed hopes that it would be about 250 percent faster?" Or how about, "GDP growth was very naught in the third quarter of 2010/"
At any rate, the economy grew at an annualized rate of two percentage points. That's slow-but-not-catastrophic in normal times. But these aren't normal times. What it means, rather, is that we're not catching up to where we need to be. We'd need a bit of time at 5 percent growth or so to really get back on track. That often happens after normal recessions, but balance-sheet recessions, where banks and consumers have to spend a long time getting their finances back in order before they can start expanding again, tend to take longer.
Posted by: justin84 | October 29, 2010 10:47 AM | Report abuse
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