Economía marxista para el Siglo XXI

Michael Roberts Blog

The first estimates for US real GDP growth for Q2’2013 were released today.  They show that the US economy grew at an annual rate of 1.7% in the last quarter of this year.  Also, significant was that real GDP growth for the first quarter of 2013 was revised down to a 1.1% annualised rate.  Assuming these figures are not subsequently revised significantly, and they often are, then they suggest the US economy grew at around a 1.4% real rate in the first half of 2013.  This is clearly below the historic trend rate of around 2.5% a year since 2000 and well below the average rate since 1929 of 3.3% a year.  Most important, the rate is still below the necessary ‘recovery’ rate for getting unemployment down to pre-crisis levels any time soon.  However, most mainstream economic forecasters think this slower rate compared to the 2.8% (revised) rate achieved in…

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