Great GDP News
GDP dipped by just 1 percent in the second quarter. This is extremely good news as it indicates that the recession is easing.
I have to say that I am somewhat surprised. We will have to see what happens, but we may actually get growth this quarter. I thought that we would see things flatten and perhaps just a slight 0.5 percent increase in GDP in Q4. Given how severe the recession was in Q4 of 2008, I have not expected to see growth until 2010. Now it looks like things are far better than I thought.
Unemployment is still a lagging economic indicator, and I expect 10 percent unemployment this year. However, with the GDP figure for Q2, the improving real estate market, and the remarkable bull run on Wall Street over the last couple of months, it certainly looks like we are making progress.