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2007 Business Review -- GDP

Notwithstanding the loud and shrill protestations of the liberal media, the U.S. economy in 2007 continued to expand:

4.9% - inflation-adjusted GDP growth, Q3 07
3.8% - inflation-adjusted GDP growth, Q2 07
0.6% - inflation-adjusted GDP growth, Q1 07

At the completion of Q3 the economy had expanded in real terms over the course of 24 consecutive quarters. That's six years.

Regarding 2008, most professional economists expect an annual real growth rate in the range of 2.0% - 2.75%. Not spectacular. But certainly not bad for a mature economy seven years into a growth cycle.

Lastly, keep in mind that when it comes to national partisan politics it's all about the stupidity, economy....


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Comments (4)

Net jobs under Bush:<... (Below threshold)
shrillprotestationsliberalmedia:

Net jobs under Bush:

ZERO.

"Lastly, keep in mind t... (Below threshold)
Rovin Author Profile Page:

"Lastly, keep in mind that when it comes to national partisan politics it's all about the stupidity, economy...."

Nice play on words JJ. You're going to have your hands (on the keyboard) full in the months ahead just exposing the fabrications that the mainstream media will be publishing claiming we are in a full fledged recession. The comparison will be like the "civil war" in Iraq meme, or the global warming fanaticism.

Good Luck my friend.

SPLM(?)So i looked... (Below threshold)
ke_future:

SPLM(?)

So i looked at your link. That's the unemployment rate, dingbat, not numbers of jobs. Unemployment went from just over 5% down to just under 4% during the internet bubble. And then when that bubble burst and we went into a recession, it drove up to a max of 6.3%. Oh my god! The lowest max unemployment rate during any recession that I have ever read of.

Oh, and then Bush's tax cuts went into effect and we saw the economy start to recover, and now the unemployment rate is hovering in the mid 4% range. Still a historically great rate.

Let me let you in on a little secret. Economists say that an unemployment rate of 4-5% is the HEALTHY rate. More unemployment and you have a surplus of workers, which drives down wages and increases the need for government subsidies (welfare). A lower unemployment rate and you have a shortage of workers, which drives up wages, and with it inflation. A 4-5% rate shows movement in the workforce, without there being a shortage of workers.

So go peddle your implications somewhere else.

Hooverville!... (Below threshold)

Hooverville!




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