Free Exchange puts the one percent decline in context:
[It's] worth remembering that output declined at a 2.7% pace in the third quarter of last year, a 5.4% pace in the fourth, and a 6.4% pace in the first quarter of this year. That 3.9% year-over-year decline is the worst showing for the American economy since records began in 1947. Considering all of that, this number is a great big green shoot.
We want to hear what you think about this article. Submit a letter to the editor or write to firstname.lastname@example.org.
2006-2011 archives for The Daily Dish, featuring Andrew Sullivan