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Economic Growth

United States

Latest GDP Figures Show Economy Is Years from Recovery

Last week, the Bureau of Economic Analysis (BEA) released its GDP report for the second quarter of 2015. The BEA’s findings were generally positive: it reported that the economy grew at an annualized 2.30 percent rate between the first and second quarters of 2015, and it revised its first-quarter growth estimate upwards by 0.8 percentage points. Over the past year, real GDP grew 2.32 percent, in line with the second-quarter growth rate. This is 0.21 percentage points better than the average growth rate of 2.11 percent since the second quarter of 2009, when GDP hit its end-of-recession trough.

CEPR and / August 10, 2015