Did we have a double dip in 2014?

On Friday, the Bureau of Economic Analysis (wait don’t click away this is important) will release it benchmark revisions to the nation’s Gross Domestic Product figures going back to 2013.

These are the eggheads in the Commerce Department that call a recession if we get two consecutive quarters of negative growth.

There is a slight chance that we will see that there was a recession in the US after QE3 finished in early 2014.

What does that mean to you and I, not much, but it does matter. It will explain why we never had a 3% annual growth in GDP under the Obama administration (the only president not to achieve that level of economic prosperity).

It will also point to the flawed economic thought that the Democrats are running as Obama 3.0 with Hillary Clinton as president.

Even if we don’t have two quarters of negative growth, I don’t believe any of the numbers will be revised up. But I will be looking at the late numbers of 2014 to see if they juice those numbers to get the annual rate over 3%. Legacy is important to Obama.

Advertisements

One thought on “Did we have a double dip in 2014?

  1. Pingback: Markets ignoring yen weakness | GRAY'S ECONOMY

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s