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The GDP Offers No Comfort

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The GDP Offers No Comfort
A file photo of U.S. currency. Luis Robayo/AFP via Getty Images
Milton Ezrati
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Commentary

After two quarters of decline earlier this year, the nation’s real gross domestic product (GDP) ticked up in the summer quarter. Political needs will point to the news in predictable ways, but practically speaking, the modest 2.6 percent annualized growth changes nothing in the underlying economic picture.

Milton Ezrati
Milton Ezrati
Author
Milton Ezrati is a contributing editor at The National Interest, an affiliate of the Center for the Study of Human Capital at the University at Buffalo (SUNY), and chief economist for Vested, a New York-based communications firm. Before joining Vested, he served as chief market strategist and economist for Lord, Abbett & Co. He also writes frequently for City Journal and blogs regularly for Forbes. His latest book is "Thirty Tomorrows: The Next Three Decades of Globalization, Demographics, and How We Will Live."
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