Friday, August 27, 2010

The Summer of Recovery---of Depression


The Commerce Department says the nation's gross domestic product—the broadest measure of the economy's output—grew at a 1.6 percent annual rate in the April-to-June period. That's down from an initial estimate of 2.4 percent last month and much slower than the first quarter's 3.7 percent pace

Not a surprise to anyone in actual commerce...

HT: HotAir

1 comment:

J. Strupp said...

And there's a better than 50/50chance that Q3 GDP is gonna show contraction.

...and the 10 year is gonna bump up against 2% signaling deflation.

...and the Fed. Chairman and most of Congress is on vacation.

Is there anyone at the helm? This is nuts.