‘t Help
Economy Looking Weak, Data Revisions Don’t Help The economy is certainly weak. The latest report on GDP showed sub-par growth in the second quarter. Revisions to past data, which occur every summer, showed that the first quarter was even worse than we previously thought. Here’s a comparison of GDP growth rates, with “old” indicating the official data as released prior to today, and “revised” indicating the new view. I’ve highlighted the significant differences. Looking at past history, the recession was worse than we previously thought–not a surprise, really, when you think about the sharp decline in employment at the time. … Read more