THE ENERGY ECONOMIST
Three-and-a-half years into the recovery from the worst recession since the Great Depression, general economic progress has been tangible. But there are still gaps in industrial production, consumer confidence, the stock market, employment, home sales, and home prices. Even gross domestic product (GDP) has grown at the tepid average annual rate of about 2 percent in the last few years. Typically, as it comes out of recession, the U.S. economy has grown quickly—on average, at about 4.5 percent—to get back to where it would have been.
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