A Bad Sign

Posted: April 28, 2011 in Technology and Business
Tags: , , ,

I feel like I’m Mr. Gloomy. That’s what high oil prices will do to me. Obviously it’s done it to the economy, too… from the BusinessInsider:

“We learned this morning that the economy grew at a pathetic 1.8% in Q1. That’s way below the 3%-4% rate that most economists consider normal. And it’s miles below the 5%-7% growth that normally follows a recession as sharp and severe as the one we just had.”

The one revision in this morning’s report is that, while GDP will be lower, employment will be a bit higher in 2011.

If prices continue to rise… and people stop spending… and corporate profits begin to get affected… I wonder how long that forecast will last… ?

Advertisements

Comments are closed.