Thursday, May 29, 2003

Sure, US GDP went up 1.9% in 2003:I, but it looks like the yo-yo swings which provided at least some growth in 2002 are now over. Come, gentle reader, and step back in time with me to the recession of 2001, in which GDP fell three consecutive quarters (2001:I to 2001:III). Since then, GDP growth has zigged into significantly positive territory (e.g. 2002:I, 2002:III) and zagged into sluggish growth (e.g. 2002:II, 2002:IV). Now the US economy is coming off a significant zag (2002:IV) during which GDP grew just 1.37% annualized, but got no zig the following quarter as it had throughout 2002. And 1.88% is good news?

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