North Korea isn’t just dark. If you look at the nation’s per capita income, it’s clear that the economic situation has gotten darker. Over at the Washington Post Wonkblog, Brad Plumer crunches the data on per capita income in South and North Korea since the 1970s. Stunning divergence: Note that Kim Jong Il took power [...]
Posts Tagged ‘GDP’
North Korea’s Economic Failure in a Second Picture
Posted in International, tagged GDP, North Korea, South Korea on December 19, 2011 | 1 Comment »
A Synchronized Slowdown in Developed Economies
Posted in Economy, International, Macroeconomics, tagged GDP, International, Macroeconomics on August 17, 2011 | 1 Comment »
Which of the following nations recorded the strongest economic growth in the second quarter? France, Germany, Italy, Japan, or the United States? This nice chart from today’s Wall Street Journal provides the answer (click for larger version): The U.S. expanded at a tepid 1.3% annual pace in Q2, but that was still better than many other [...]
What Would We Need for Persistent 5% Growth?
Posted in Macroeconomics, Politics, tagged GDP, Growth, Macroeconomics on June 15, 2011 | 9 Comments »
Last week, I argued that Governor Tim Pawlenty’s aspiration for 5% economic growth over a full decade is implausible since the United States has achieved such steady growth only once since World War II. Over at Economics One, Stanford economics professor John Taylor offers a more positive take, defending the goal and offering a recipe for [...]
How Ambitious is Pawlenty’s Growth Goal?
Posted in Economy, Politics, tagged Economy, GDP, Politics on June 10, 2011 | 1 Comment »
Plenty. In his economic speech on Tuesday, presidential candidate Tim Pawlenty set out an ambitious goal for economic growth: Let’s grow the economy by 5%, instead of the anemic 2% currently envisioned. Such a national economic growth target will set our sights on a positive future. And inspire the actions needed to reach it. By [...]
A Tepid Quarter for GDP
Posted in Data, Economy, Macroeconomics, tagged Data, Economy, GDP on April 28, 2011 | 3 Comments »
Thursday morning brought the first official look at GDP growth in the first quarter. Headline growth was a disappointing, if not surprising, 1.8%. Here’s my usual graph of how various components of the economy contributed to overall growth: Consumers continued to spend at a moderate pace; their spending grew at a 2.7% rate, thus adding [...]
Another Tepid Quarter for GDP
Posted in Data, Economy, Macroeconomics, tagged Data, Economy, GDP on October 30, 2010 | 5 Comments »
BEA released its first estimates for third-quarter GDP yesterday. Headline growth was a disappointing, if not surprising, 2.0%. Here’s my usual graph of how various components of the economy contributed to overall growth: Housing fell back into the red, while non-residential structures eked out a small gain. Consumers continued to spend at a moderate pace [...]
Further Signs of a Slowdown
Posted in Data, Economy, Macroeconomics, tagged Data, Economy, GDP, Macroeconomics on August 27, 2010 | 2 Comments »
As expected, BEA’s second stab at GDP growth for the second quarter was even less inspiring than the first. Headline growth was a tepid 1.6%, down from the 2.4% previously reported. Consumer spending and business spending on equipment and software were actually stronger than earlier estimates, but business structures, inventories, and exports all weakened, while [...]
We’re Still #1 (Unfortunately)
Posted in Economy, Health, Macroeconomics, tagged Data, GDP, Macroeconomics, Recession on August 2, 2010 | 2 Comments »
The Bureau of Economic Analysis rewrote history on Friday. Along with GDP data for the second quarter, BEA also published revisions to its GDP estimates since the start of 2007. Bottom line: The recession was worse than originally thought. The economy contracted by 4.1% from peak to trough (Q2 2008 to Q2 2009), up from [...]
A Silver Lining in Second Quarter GDP?
Posted in Data, Economy, Macroeconomics, tagged Data, Economy, GDP, Macroeconomics on August 1, 2010 | 9 Comments »
Last Friday the Bureau of Economic Analysis released its first look at GDP growth in the second quarter. BEA estimates that the economy grew at a moderate 2.4% annual pace in the quarter, notably slower than the 3.7% pace in the first quarter and the 5.0% pace in the fourth quarter of 2009 (both those [...]
Consumer Spending is 60% of the Economy, not 70%
Posted in Data, Economy, Macroeconomics, tagged Consumers, Data, Economy, GDP, Macroeconomics on June 25, 2010 | 12 Comments »
Early Friday, the Bureau of Economic Analysis released its third look at economic growth in the first quarter. The results were disappointing: BEA now estimates that Q1 growth was only 2.7%, down from the prior estimate of 3.0%. A key reason: consumer spending was weaker than previously thought. As I noted in May, the monthly [...]
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