Monday, August 3, 2009

Real GDP: Declines from Peak

GDP is now 3.9% below the recent peak. In terms of declines in real GDP, the current recession is the worst since quarterly records have been kept (starting in 1947).

It will be interesting to see how long it takes for real GDP to reach the pre-recession peak. With a a sluggish recovery, and assuming no more cliff diving, it could take until sometime in 2011.


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