Liveblogging World War II: December 22, 1941
Paul Krugman: The Meaning of the Mercury Regulation

Yes, the Mid-2011 U.S. Economy Was Barely Growing at All...


News Release: Gross Domestic Product: Real gross domestic product -- the output of goods and services produced by labor and property located in the United States -- increased at an annual rate of 1.8 percent in the third quarter of 2011 (that is, from the second quarter to the third quarter), according to the "third" estimate released by the Bureau of Economic Analysis. In the second quarter, real GDP increased 1.3 percent.

The GDP estimate released today is based on more complete source data than were available for the "second" estimate issued last month. In the second estimate, the increase in real GDP was 2.0 percent (see "Revisions" on page 3)…

The fourth quarter looks better. The first quarter depends on whether the Federal Reserve builds a firewall between the U.S. and Europe right now