US GDP growth falling farther and farther behind trend as the Obama recovery continues
With the final measure of GDP growth during the first quarter of 2013 just being released (2.6%), I thought that I would graph out how GDP growth has preformed during the Obama "recovery." As economists know, during previous recoveries GDP growth grows much faster than the trend growth rate until GDP growth catches back up to trend. This is the first recovery where that isn't the case. As you can see from the above figure, GDP growth in the current recovery keeps growing more slowly than the trend rate.
Real GDP increased by only a paltry 1.9 percent in 2013. It was down from the already weak 2.8 percent in 2012.