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.
1.) Real GDP growth for first quarter of 2013: 1.78%
2.) This is well below the 3% historical average.
3.) The economic recovery from the Great Recession continues to be underwhelming.
Data for these graphics can be downloaded here.
PowerPoint files for registered instructors are available here.