Still No Recession Here, b"H
US GDP growth in second quarter of 2008 was 1.9%. So far, fourth quarter of 2007 remains the only negative quarter since 2001 (-0.2%). (A recession is defined as two subsequent quarters of negative growth.)
This is quite an amazing performance, given all the shocks to the economy lately. Unemployment was up to 5.7%, though. Add higher taxes to the mix, and it could get much worse.
This is quite an amazing performance, given all the shocks to the economy lately. Unemployment was up to 5.7%, though. Add higher taxes to the mix, and it could get much worse.