3.0 percent and 4.5 percent
GDP growth in the first quarter of this year = 4.5 percent. (Yes, Virginia, it was revised . . . upwards!)
Preliminary GDP growth estimate for Q2 of this year = 3.0 percent.
Average annual rate of GDP growth during Clinton’s first term = 3.22 percent.
Median quarterly rate of GDP growth during Clinton’s first term = 3.15 percent.
We report, you decide.
Note: Regarding the data from 1993-1996, the links provided above seem to be acting out. You also can peruse this table for those numbers.
UPDATE: You know, it just dawned on me that I forgot to say something about the drop in reported GDP growth from Q1 of this year to Q2. Yep, I’m sure the nervous right and the brain dead left both are preoccupied with the “slowing economy,” huh? Um, GDP does not go onwards and upwards in a nice, straight line. It fluctuates. It can rise sharply one quarter, but then plunge in the very next one. It can fall sharply in one quarter, but then soar the following one. And not only can GDP do that, it actually does it . . . all the time.
Here’s some more data to chew on:
The largest sequential decrease in quarterly GDP growth during Clinton’s first term was 77 percent (!) (Q4-1994 – Q1-1995). The second largest such decrease was 56 percent (Q2-1994 – Q3-1994). The next largest decrease was 49 percent (Q2-1996 – Q3-1996).
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