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GDP up more than expected

Posted on August 28, 2008

Real GDP was up 3.3% in the 2nd quarter. That's more than most expected. Certainly not what you'd expect to see in a recession. It should be noted that this is not a clean bill of health for the economy. It would be premature to say that we're out of the woods. However, if this is a recession, it would be a pretty unusual one. As King Banaian put it a couple days ago in response to labor market news, If it be recession, it be wimpy. And so today's news further complicates the picture.Just what I needed as I sit in contemplation as I prepare to write about the local economic out...

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