Wednesday, January 30, 2013

The Obama Recession ???

Here’s the news this morning: the advance estimate (the first draft) of real GDP growth for 2012 IV came out this morning, and it shows the growth rate of real GDP as –0.1%.

It is exceptionally rare for real GDP growth to be this low without a full-blown recession. The last time we had a single quarter of negative growth without a multi-quarter recession was in the mid 1980’s. That quarter’s data was later revised to show very low, but still positive, growth.

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