Economic Insights – March 2015

GDP estimates for the fourth quarter of 2014 confirm that six years into the recovery, the economy remains slow, but steady.

After a weather-related plunge in the first quarter of last year, real GDP growth roared back at a 4.8 percent annual rate in the middle two quarters of 2014.

But with real growth at a 2.6 percent annual rate in the fourth quarter, we're right back near the trend, which includes a 2.5 percent growth rate in 2014 and a 2.3 percent rate since the recovery started in mid-2009.

The big systemic problem .....