Lousy Economic Recovery? Doesn't Feel Like It
The 1.7 percent increase in gross domestic product for the second quarter shows a U.S. economy that’s plodding along. The job market looks much stronger, so there’s obviously a disconnect. Many economists are betting the labor figures right now are more accurate, while gross domestic product is understated for a host of reasons and will eventually catch up. “The employment numbers are closer to the true picture,” says Harm Bandholz, chief U.S. economist at UniCredit Group and the top payroll forecaster in the past two years, according to data compiled by Bloomberg. “I’m confident GDP growth will pick up in the second half and even more in 2014.”
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