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Chart Of The Day Gdp Finally Shrinks

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by Zubin Jelveh
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Minimum Wage and the Retail Sector   Chances of More Negative GDP Readings

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Jul 31 2008 9:21am EDT

Chart of the Day: G.D.P. Finally Shrinks

For everyone who was worried that the NBER will have to declare a recession even without a negative reading on G.D.P., you can rest a little easier now. This morning provided more evidence that if and when the NBER's cycle dating group gets around to it, a recession will probably be marked as starting right around the turn of the year.

The government reported that the economy grew 1.9 percent in the second quarter, but a revised reading of the fourth quarter of 2007 reveals that the economy contracted 0.2 percent:

08Q2GDP.gif

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