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January 31, 2013

The Onion On 4Q GDP Contraction

January 31, 2013

The Onion On 4Q GDP Contraction

The first of three 4Q GDP yesterday showed that economic growth contracted 0.1% (report/chart), which was well below already weak expectations for 1.1% growth. Lots of official reactions and analysis (links below) but most entertaining reactions are from The Onion’s American Voices series. Here’s my favorite (click image for more)…


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Reference:
American’s React To Economy Shrinking (The Onion)

The Only Chart You Need On GDP (WashingtonPost WONKBLOG)

Why Did Economists Get 4Q GDP Wrong? (WSJ)

A great summary of 4Q GDP and outlook from here (Bill McBride, CalculatedRisk)