| Online: | |
| Visits: | |
| Stories: |
| Story Views | |
| Now: | |
| Last Hour: | |
| Last 24 Hours: | |
| Total: | |
How the Weakfish Recovery Just Got Even Worse
wallstreetexaminer.com / by Alan Tonelson •
Although it’s been almost totally overlooked in the excitement over a possible deal to end the Greece debt crisis (or maybe kick the can down the road further), it’s hardly bupkus that the U.S. government has just told us that an historically weak recovery has been even weaker than we’ve thought.
The Commerce Department this morning just came out with its annual report on the economic performance of each of the 50 states, and as usual, it contained a figure for the American economy overall. What was less usual is that the inflation-adjusted growth till now recorded for 2011, 2012, and 2013 was revised – down.
According to Commerce’s Bureau of Economic Analysis (BEA), real GDP in 2011 grew only by 1.40 percent, not 1.60 percent. After-inflation growth for 2012 was 2.10 percent, not 2.50 percent. The only bright spot was 2013 – during which the real increase in the gross domestic product (GDP) was revised up from 1.80 percent to a still drecky 1.90 percent. And maybe we can add to the good news list the 2.20 percent improvement in real GDP growth estimated preliminarily by BEA for last year.
The post How the Weakfish Recovery Just Got Even Worse appeared first on Silver For The People.
Source: http://silveristhenew.com/2015/06/11/how-the-weakfish-recovery-just-got-even-worse/
