Sara Hsu asks if All Growth is Good? The Case of China. Of course, not all growth is good. It makes little difference, whether it's economic or human tissue growth. Edward Abbey famously wrote that "growth for the sake of growth is the ideology of the cancer cell". Obesity is another form of high-growth, yet it … Continue reading China, Growth, and the Weakness of Real GDP
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November Employment and Revised 3rd Qtr 2011 GDP
I'm a few days late but I wanted to note the latest employment (jobs) report and the first revision to 3rd quarter GDP. There's really not much news here - it's the same old story. The economy continues to move along somewhat like a zombie. Not really dead, but definitely not anything you could call … Continue reading November Employment and Revised 3rd Qtr 2011 GDP
Update on Current Situation – October Jobs Report and 3rd Qtr GDP
Two of the more important (U.S.) economic measures were reported in last week and half. Yesterday the October jobs report came in. The week before we got the flash report on 3rd quarter GDP. Both measures were better than feared, not quite as good as consensus expectations of many forecasters, and overall still a disappointment. … Continue reading Update on Current Situation – October Jobs Report and 3rd Qtr GDP
The Great Recession Was Even Worse Than Thought
In yesterday's release of the 2nd quarter 2011 GDP numbers for the U.S., the BEA also revised some past numbers. This is not an unusual event. It's routine. But the news and revisions this year were disturbing and sobering. First, a little about how GDP numbers are reported. In this day and age of instant … Continue reading The Great Recession Was Even Worse Than Thought
GDP for 2nd Qtr: Economy In “Growth Recession” – Very Bad News
The Bureau of Economic Analysis released the "advance estimate" of 2nd Quarter 2011 GDP growth. The numbers are bad. Worse than most analysts expected. I'll let BEA explain: Real gross domestic product -- the output of goods and services produced by labor and property located in the United States -- increased at an annual rate … Continue reading GDP for 2nd Qtr: Economy In “Growth Recession” – Very Bad News
GDP 1st Qtr 2011 – Revised
I missed posting this a few days ago. Bureau of Economic Analysis says first revision of the GDP estimate for 1st quarter 2011 was essentially unchanged from the initial "flash" estimate provided at the end of April. The U.S. economy grew at approx. 1.8% annual rate. While the overall growth rate was unchanged, there was … Continue reading GDP 1st Qtr 2011 – Revised
Downbound Again: GDP in 1st Quarter
Yesterday the "flash" estimate for GDP growth in 1st quarter 2011 was released. Not good. GDP only grew at a 1.8% annual rate, down from the 3.1% we experienced in the 4th quarter of 2010. This is very disappointing, but not really surprising. Before I comment, I'll let CalculatedRisk report and show one of his … Continue reading Downbound Again: GDP in 1st Quarter
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