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August 2013

July 2013

Sluggish GDP Growth for First Quarter

Today, the Bureau of Economic Analysis released the third and final GDP estimate for the first quarter of 2013.  The estimate of real GDP growth is 1.78%, which is positive. However, it is still well below the 3% historical average (based on the past 50 years).

The first figure below shows the quarterly growth rates for real GDP since 2003.  Since the Great Recession, real GDP growth rates have been relatively low, especially considering the economy is technically in recovery mode.

Graph1

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