Heterodox
Q2 2021 GDP: goodbye recession, hasta la vista recovery, hello expansion Nominal GDP before inflation increased 3.1%, while real GDP for the 2nd Quarter increased 1.6%. The real annual rate of growth was thus 6.5%. Real GDP is now 0.8% higher than its last quarter before the onset of the pandemic: The recession is over, as was declared by the NBER last week. In fact, so is the recovery, if one measures by GDP, since once all of the...
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