A strong 2014Q2 GDP report came out today, registering in at 4% annualized real GDP growth. This is good news and could mean that soon Americans will have more means for reducing debt burdens, but it is worth looking at it in the context of the full recovery. Much of the recovery data was also revised, so we are updating our chart showing recoveries after every post WWII recession in the United States.
Here it is, including 2014q2:
The uptick at the end of the red line is today’s strong GDP report. But it is useful to put it into the context of the longer recovery, which has been the weakest in history (by far).