GDP Falls Less Than Expected

By Megan McArdle

Woo-hoo!  GDP only fell at an annualized pace of 1% in the second quarter!  Pop the champagne!

Thoughts:

  • Happiness is relative
  • This number will be revised, probably downward
  • Consumer saving continues to rise, and probably will for a while
  • Employment isn't going to recover for quite some time

This article available online at:

http://www.theatlantic.com/business/archive/2009/07/gdp-falls-less-than-expected/22492/