Economics One: Despite claims, data continue to show small impact of stimulus:
"The table shows the latest Department of Commerce estimates of the contributions of consumption, investment, net exports, and government spending to the improvement in GDP growth from the first to second quarter. Growth improved by 5.7 percent (from -6.4 percent to -0.7 percent). Private investment was by far the major source. Government spending contributed 1.9 percentage points, but more than half of that was defense spending which was not part of the stimulus."
No, growth improved by 5.7 percentage points. Nevermind whether or not using percentages as ending and beginning values to calculate a percentage return is a proper way to express improvements.
Monday, October 26, 2009
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