Recovery is not always smooth
There has been huge media attention about the 2011 Q2 UK GDP growth figures released today. The estimate of 0.2 per cent shows only very weak growth. It is bound to be revised either up or down as more information comes to light. But at the moment, recovery looks very weak, after more rapid growth […]
The economic recession: where are we now, and how bad has it been?
The world economy as a whole is roaring away. The 5 per cent real GDP growth on 2010 is almost the highest annual growth rate seen over the past 20 years. And even in 2009, world output fell by only 0.5 per cent. The problems have been almost exclusively in the developed world. Looking at […]
was there a double dip in the 1930s?
There is a lot of comment at the moment about the risks of a ‘double-dip’ recession, citing evidence from America in the 1930s. Well, here is the annual growth rate of real GDP in the United States in the 1930s: 1930 -8.9 1931 -7.7 1932 -13.2 1933 -2.11 1934 +7.6 1935 +7.7 1936 +14.2 1937 […]
