Is The COVID-19 Recession Over?
GDP Will Hit a New High Next Quarter Real GDP is poised to hit a new high next quarter. Is that a sufficient? GDP Reporting Confusion Reporting adds to the GDP confusion. Economists like to present GDP at a Seasonally-Adjusted Annualized Rate (SAAR). In the first quarter of 2021 GDP was up a reported 6.4% annualized. Actually, quarter-over-quarter GDP was up 1.6%. From the above chart one would be hard pressed to know the numbers I presented in the lead chart. The 33.4% rise did not come close to wiping out the 31.4% decline. It takes a 45.8% rise to wipe out a 31.4% decline. GDP did no...
Source: zerohedge.com