The economic recovery from the financial crisis has been terrible.
This chart, which comes to us from Deutsche Bank’s Peter Hooper, shows just how far below average this recovery has been compared to the last 5 post-recession bounce-backs.
And in the first quarter, the economy grew just 0.2%, well below expectations.
Since that report, subsequent revisions have seen Wall Street take its Q1 GDP estimates into negative territory, with the Street now forecasting the economy contracted 0.8% in the first quarter.
And following some disappointing economic data last week, Wall Street has come right up to the edge of saying “recession” as second quarter GDP expectations have now taken a hit. (A recession is defined as two consecutive quarters of negative growth.)
A long road back from the financial crisis.