Weak first quarter of 2011 GDP numbers

Data available here.
The new 1.8% GDP growth numbers are very weak. But, unfortunately, the growth for this recovery has been very weak. Seven quarters into the Obama recovery, GDP growth has averaged an annual rate of only 2.8%. In contrast, since 1970, the first seven quarters of previous recoveries averaged 4.6%. The poor growth rate is especially surprising since the preceding recession was so severe, there should have been ample room for high growth as the unemployed returned to work. For example, the Reagan recovery followed a similarly high unemployment rate and saw the economy grow at an average annual growth rate of 7 percent.



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