Economics Blog :: John S. Irons

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Bivens on GDP

Posted on July 31, 2008

GDP posts a modest gain - but still not strong enough to tighten the labor market. Also look at the revision in Q4 from last year.GDP Picture, July 31, 2008Even with boost from stimulus, economy just limps alongby EPI economist L. Josh BivensU.S. gross domestic product (GDP) grew at a 1.9% annual rate in the second quarter of 2008, following growth of 0.9% in the first quarter of the year, according to a Commerce Department report released today.While positive growth obviously is better than negative, the underlying trends in the working-age population and productivity mean that GDP growth of ...

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economy , gdp , inflation