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Thursday, July 31, 2008
Still waiting for the recession to begin...
while Democrats say they are waiting for it to end. The Commerce Department today reported that gross domestic product (GDP) rose at a seasonally adjusted 1.9% annual rate April through June, showing that the economy accelerated over the previous quarter. We're still waiting for the first quarterly decline in the GDP, which will be the bellwether for only the beginning of a recession. Then it will take at least two more consecutive quarters of decline before we are even in a recession. What will Barack Obama and the Democrats say now?
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1 comment:
Actually, the latest report revised Q4 of 2007 down to negative 0.2 GDP growth.
Never the less, the data continue to say:
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No recession.
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