Thursday, January 30, 2025

On the surface today's report of real gross domestic product is actually pretty good


 

 The first estimate of real GDP for 4Q2024 and for annual 2024 has been reported here, 2.3% and 2.8% respectively.

On a big picture basis, the compound annual growth rate for real annual GDP 2020-2024 came in at 3.55% per annum, which compares very favorably with 1929-2007 at 3.45% per annum.

Unfortunately 2007-2024 is still wallowing at 1.957% per annum.

The country got over the Great Depression, but we're still working on the Great Recession.