Saturday May 25, 2013
| Last update: Friday at 11:43 PM
Drop in GDP at the end of 2012 is a warning on austerity
BY Masao Suzuki | San José, CA | 2/11/13
On Jan. 30, the Commerce Department reported that Gross Domestic Product, or GDP, fell by a very small amount (0.1% at an annual rate) in the last three months of 2012.
austerity, GDP, Gross Domestic Product
Cuts in government spending push economy to edge of another downturn
BY Masao Suzuki | San Jose, CA | 8/01/11
On July 29, the Commerce Department released its report on Gross Domestic Product or GDP for the Second Quarter (April to June) of 2011. GDP, which measures the value of goods and services produced in the United States, rose at only a 1.3% annual rate, much slower than most mainstream economists expected. Even worse, the First Quarter (January to March) economic growth was cut from an earlier estimate of 1.9% to just 0.4%.
Capitalism, double dip recession, economy, GDP, recession, Unemployment
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