As I expected

Here is the final GDP trendline: Q4 2011: 4.1%; Q1 2012: 2.0%; Q2 2012: 1.25%.

I have been writing for some time that the economy can grow only at close to 1.5%. Why? Because our productivity growth is very disappointing, up 1.1% y/y. And the economy cannot much faster than productivity growth.

George Dagnino, PhD Editor,
The Peter Dag Portfolio.
Since 1977
2009 Market Timer of the Year by Timer Digest
Portfolio manager

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