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Our Worrisome GDP April 28, 2022

Posted by geoff in News.
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The sad GDP numbers came out today, with a 1.4% drop from last quarter (on an annual basis). I don’t like that way of reporting things, because it gives you a meaningless snapshot of the GDP. I prefer looking at this:

[This is a screencap of the inflation-adjusted GDP from the Saint Louis Fed]

You can see the steady growth since the last recession, with an uptick in growth when Trump was elected. Then came COVID-19, with the economy rebounding after Q2 2020. But the rebound slows down quite a bit after Q2 2021. Must be Russia.

Obviously next quarter will be critical – if the GDP shrinks again, there will be grounds for saying our economy’s in recession.

Comments»

1. Jimbro - April 28, 2022

I read the title as “Our Worrisome GOP”. With the GDP tanking only the Failure Party could manage to bollox the reaction to it


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