Thursday, July 31, 2008

Q2 GDP Up 1.9%

GDP is not one of our favorite pieces of data. It's too much of an aggregation, with lots of points where the acquiring of data is subject to the potential for significant errors, that said, the Commerce Department reported today that GDP increased at an annual rate of 1.9 percent in the April-to-June period.

Do with this number what you will, but the number certainly doesn't indicate any recession in the economy.

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