What is the Current State of the Economic Recovery? Congressional Research Service, Library of Congress. CRS Insights. Craig K. Elwell. December 1, 2014.
The U.S. economy’s recovery from the 2007-2009 recession has been steady but historically slow. From the recession’s end in mid-2009 through the third quarter of 2014, as measured by real GDP growth (i.e., gross domestic product adjusted for inflation), the economy’s average annual rate of growth has been about 2.2%, compared to the 4.5% pace typical of previous post-WWII recoveries. After a temporary setback in the first quarter of 2014, growth rebounded above the recovery’s slow average pace over the next two quarters with gains of 4.2% and 3.9%, respectively.
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