About That 4% GDP Increase in 2Q14 July 31, 2014Posted by geoff in News.
So the GDP dropped by 2.1% in the first quarter of this year, and then increased by 4% in the second quarter (at least on a very preliminary basis). What does that really mean?
It means that so far in 2014, we’re averaging about 2% annual growth. The CBO uses an estimate of 2.3% growth for its deficit projections, which are already very high.