The Little GDP that Could (and Finally Did)

Posted by Patrick James

gdpgrowth2After four quarters of decline, the U.S. Gross Domestic Product finally saw a quarter of growth. The upswing from negative 6.4 percent to positive 3.5 (that's a change of 9.9 percentage points for you non-mathematicians) since Barack Obama took office is the largest rate of increase over two-quarters since 1980.Like Megan McArdle, I've always been a little skeptical of looking at GDP growth as the be-all end-all barometer of our national health. Then again, Andrew Sullivan writes that while the growth might not be sustainable, and although jobs are still in the pits, "this is a real and tangible gain, given the very real likelihood of total meltdown only a few months ago." I'd have to agree.