>Yesterday's NYT reports that GDP rose 1.1%, a revision
>to the previous figure of 2.2%. The report goes on to
>say it is the lowest GDP growth since 1995.
>
>In the same edition, in the World Business section, the
>NYT reports that Canada's just released figure for GDP is
>2.6%. But it also warns that Canada's real GDP growth
>is 0.6%.
>
>There is no mention of the US's "real" GDP, so what am
>I supposed to think? That our GDP is nominal, unadjusted
>for inflation? If so, doesn't that make our real GDP
>negative -- in other words, a recession?
>
>Am I right in guessing that the NYT omitted a necessary
>caveat in reporting our GDP?
The U.S. figure is real not nominal. The nominal quarter-to-quarter figure, annualized, is 3.0%. I have no idea what the Canada item is about.
Doug