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Economy
2011 GDP: 1.7%
2012-01-27
Real GDP increased 1.7 percent in 2011 (that is, from the 2010 annual level to the 2011 annual level), compared with an increase of 3.0 percent in 2010.
Don't worry, it will be revised downward...
The increase in real GDP in 2011 primarily reflected positive contributions from personal consumption expenditures (PCE), exports, and nonresidential fixed investment that were partly offset by negative contributions from state and local government spending, private inventory investment, and federal government spending. Imports, which are a subtraction in the calculation of GDP, increased.
Talk about complete stagnation for an economy.
Posted by:DarthVader

#7  S&P 500 index is just about flat since 1/1/2000. Sure makes you wonder just how it is that certain people make so much money in the stock market.
Posted by: Glenmore   2012-01-27 17:53  

#6  The inevitable revision won't just be down. It might result in a negative number.
Posted by: Iblis   2012-01-27 14:49  

#5  Given the ongoing & severe devaluation of the dollar, giving a value to GDP growth or shrinkage is utter guesswork.
My little town is looking worse year by year, though.
Posted by: Anguper Hupomosing9418   2012-01-27 14:29  

#4  newc

The rule of thumb used to be that 2% growth was needed to increase employment as fast as labor force growth. Given the aging of the population, most people think that about 1.6-1.9% would probably do it.

Of course as you imply, this recovery has been a weak one, weaker than any since the current method of sampling households and the current method of defining recessions were established.
Posted by: Lord Garth   2012-01-27 13:22  

#3  The whole GDP measure is nonsense-on-a-stick.
Posted by: Bright Pebbles   2012-01-27 12:32  

#2  You need 5.5% real GDP growth to pull out of a recession. 1.7% is anemic for the best of economies. It does not even cover population growth.

This is no recovery. This is a grind down.
Posted by: newc   2012-01-27 12:08  

#1  One could almost believe it if the government's CPI calculation wasn't complete Fantasyland.
Posted by: Shimble Guelph5793   2012-01-27 11:42  

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