« Skynet Meets Caesar From Planet Of The Apes |
Main
|
California Gay Marriage Fallout In NY »
May 29, 2008
Economy Grew 0.9% in First Quarter
The second but still not final revision to the 1st Q GDP number is in, and it's not exactly helpful to the media's drumbeat for recession. 0.9% isn't good -- 1.6% or so seems to be the minimum level for decent if not stellar expansion -- but it's a hell of a way off from a contraction.
The federal government said the economy grew 0.9% in the first quarter in its second estimate of gross domestic product, a slight increase from its first read and in line with expectations.
The growth outpaced the 0.6% the Bureau of Economic Analysis reported last month in its advance estimate. Economists had forecast 0.9% growth.
Chris Matthews' leg declined comment on this story.
Thanks to dri.