Is there anything better than history revision? And, is there anything more pathetic than even after revision we still have a horrid economy?
As readers here know, the world has decided to change the way we consider GDP, again. As expected this reflects better towards the present than the past.
Supposedly, there’s a table out there with hard numbers to look at. I’m trying to find them now, but, this came from a ppt/pdf slide from the BEA.
In the mean time, with revisions, our GDP supposedly grew at another anemic pace of 1.7%. For those wondering. 1.7%, especially now that they include the revisions, is horrible for the US. Other nations could almost thrive on 1.7% increase, but, the US can not. This is preliminary, they’ll release the more official rate at the end of August, but, that too will be revised, later.
1.7% growth will not…
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