Sunday, January 30, 2011

Economic Recovery

In the fourth quarter, economic output reached a $13.38 trillion seasonally adjusted annual rate, measured in 2005 dollars, inching 0.14% above the final quarter of 2007, when the recession began.

In the summer of 2009, the recession's official end, output plunged 4.14% below pre-crisis levels to a $12.81 trillion seasonally adjusted annual rate.

It took 12 quarters to recoup the losses and, on a per-capita basis, the economy is still not as large as it was before the recession took hold. Such a prolonged recovery is unusual: It took eight quarters to bounce back from the deep recession of the early 1970s.


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