Thursday, May 5, 2011

In Case You Were Wondering...

Current dollar spending per person in the United States is still below its pre-crisis peak.  In 2008:Q2 domestic spending per capita was $50,081.  In 2011:Q1 it reached 49,808.  So 11 quarters later, the U.S. economy has yet to even return to its pre-crisis peak, let alone get anywhere near a reasonable pre-crisis trend. Time to adopt a nominal GDP level target.

Source: Fred Data

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