60 days, 60 stats - #16
Yesterday we began our focus on the economy series with a look at GDP. While that's an interesting measure and one that most economists use, it's actually the GROWTH (or decline) in GDP that is an indicator of the direction the economy is heading.
Today's chart is the % change in GDP, and do note the zero line on the "y" axis here - anything above it is positive growth in the economy, anything below it means the economy is shrinking.
GDP growth has also been frustratingly slow. This is better than four years ago, though, when GDP was tanking. The real GDP growth rate for the past three years, moreover, is similar to the most of the growth years of the Bush administration, and today it's growing at just about 2%. More importantly, the positive trend would be interpreted by most economists to say that the economy is better off today than it was 4 years ago.
Today's chart is the % change in GDP, and do note the zero line on the "y" axis here - anything above it is positive growth in the economy, anything below it means the economy is shrinking.
GDP growth has also been frustratingly slow. This is better than four years ago, though, when GDP was tanking. The real GDP growth rate for the past three years, moreover, is similar to the most of the growth years of the Bush administration, and today it's growing at just about 2%. More importantly, the positive trend would be interpreted by most economists to say that the economy is better off today than it was 4 years ago.
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