07/04/2014
Growth in America...or lack thereof
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
