Apr
29

Good Growth

GDP grew at a pleasantly fast 6.4% annualized rate in 21Q1 and is now just 0.9% below its inflation-adjusted level on 12/31/19. It will surpass that level in mid-May 2020. By contrast, it took more than three years for real GDP to fully recover in the last recession. 21Q2 and 20Q3 GDP should easily exceed 21Q1’s 6.4%, and GDP growth in 2021 will, baring disaster, be the best since 1984.

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