Fourth quarter 2009 GDP revised downward, uh oh!
Take away inventory replacement, and growth’s actually an anemic 1.7%.
That’s not enough to do a damn thing about unemployment, and it’s certainly not a recovery from recession, when measured by previous historical standards, as Mark Thoma illustrates:
Gorilla says: “Going nowhere is the new arriving!”
Tags: GDP, Mark Thoma, unemployment, US Economy