Today the Bureau of Economic Analysis announced that second quarter GDP grew at an annualized rate of 1.5 percent. This news confirms again that this is the worst economic recovery in history.
The chart below shows the history of U.S. economic recoveries in simple terms -- how much inflation-adjusted GDP grew in the 12 quarters following recessions since World War II. President Obama has led the worst U.S. economic recovery since we began calculating quarterly economic data.
Overall Real GDP Growth in 12 Quarters Following a Recession
(For each time period, the last quarter of negative growth is listed first)
Source: Bureau of Economic Analysis (tables 1.1.6 and 1.1.6A-D), RPC staff calculations.