Though Q1-2014 GDP was -1%, the Year-to-Year Trend Remains in the +2% Range
By Dr. Joe Webb
Published: May 29, 2014
The Bureau of Economic Analysis released the second revision of Q1-2014 US Gross Domestic Product (GDP), indicating a contraction of the US economy in the quarter. As reported in prior (“laughable and embarassing”) analysis, an inventory buildup in the last two quarters of 2013 distorted the underlying condition of the economy.