Q1 GDP Revised Down to 1.9%

Thursday, May 31st, 2012 and is filed under Economy, News

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According to the latest data from the Bureau of Economic Analysis, GDP grew at a dismal rate of 1.9% in the first quarter of 2012 as opposed to the 2.2% that was initially reported.  This would be a mediocre number during a regular time in the business cycle.  It is an unmitigated disaster this far into the “recovery” from such a deep recession.  This is the sort of growth that European countries have experienced in recent years.