These people are playing games with the data mate and you are falling for it, as usual.
GDP growth in the United States is always reported as an annual rate. This means that if the economy grew 0.5 percent from the first quarter to the second quarter, it would be universally reported as 2.0 percent growth (in this case 2.4%), with reporters always giving the annual rate. This is basically four times the quarterly rate. (It’s actually the first quarter’s growth rate taken to the fourth power, but this will be the same for small numbers.)
The 0.8% quarterly growth figure that you have seen them talking about in these articles translates to a 3.2% annual growth figure. Certainly below their 5% target but it is well above western counterparts, and let’s not forget that the financial year isn’t over and a lot can change in 3 quarters.
These people are playing games with the data mate and you are falling for it, as usual.
GDP growth in the United States is always reported as an annual rate. This means that if the economy grew 0.5 percent from the first quarter to the second quarter, it would be universally reported as 2.0 percent growth (in this case 2.4%), with reporters always giving the annual rate. This is basically four times the quarterly rate. (It’s actually the first quarter’s growth rate taken to the fourth power, but this will be the same for small numbers.)
The 0.8% quarterly growth figure that you have seen them talking about in these articles translates to a 3.2% annual growth figure. Certainly below their 5% target but it is well above western counterparts, and let’s not forget that the financial year isn’t over and a lot can change in 3 quarters.