The final revision to first-quarter GDP, -2.9%, sure shook up Wall Street as economists slash their full-year 2014 estimates to below 3.0%. The thing is the recovery off the 2008-09 recession has been weak all along.
The following quarterly figures are annualized and seasonally adjusted.
Q1 07…0.3
Q2 07…3.1
Q3 07…2.7
Q4 07…1.5
Q1 08… -2.7
Q2 08…2.0
Q3 08… -2.0
Q4 08… -8.3
Q1 09… -5.4
Q2 09… -0.4
Q3 09…1.3
Q4 09…3.9
Q1 10…1.6
Q2 10…3.9
Q3 10…2.8
Q4 10…2.8
Q1 11… -1.3
Q2 11…3.2
Q3 11…1.4
Q4 11…4.9
Q1 12…3.7
Q2 12…1.2
Q3 12…2.8
Q4 12…0.1
Q1 13…1.1
Q2 13…2.5
Q3 13…4.1
Q4 13…2.6
Q1 14… -2.9
Sources: bea.gov
Wall Street History returns in two weeks.
Brian Trumbore
