Octubre 30, 2003
The economy is better (and don't blame 9-11 for the downturn)
CNN has a story about howGDP growth posts strongest growth in nearly 20 years - Oct. 30, 2003, which is interesting, but what is really interesting about the story is the chart that shows the GDP growth for the last three years. We entered the recession in the first quarter of 2001, and the recession ended in the fourth quarter of 2001--since then, we have had eight straight quarters of positive economic growth. People have placed the blame for the economy partly on 9-11, but that really can't be the case since the quarter immediately following the attacks was the first quarter that things started turning around.
The figures for the third quarter of 2003 show a 7.2 percent GDP increase, the largest since 1984. Hopefully, the figures will help increase consumer confidence in the economy and further bolster growth.
