Thursday, August 27, 2009

GDP Contracts 4 Qtrs in Row, Press Encouraged

The GDP has contracted for four straight quarters -- the first time that has happened since the Commerce Department began tracking that measure in 1947.

But the most recent quarterly decline is the smallest since the second quarter of 2008, giving the press a chance to run headlines proclaiming that the recession is at or nearing an end.

Graphic from none other than CNN.


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