The end of the year is always a time to take stock of what has transpired during the past year and what is likely to happen in the one about to begin. Let’s do so by considering several key economic measures.
Economic expansion limped along for another year. Gross Domestic Product (GDP), adjusted for inflation, is the best measure of the economy’s total output. It increased this year, but not nearly as fast as many would hope, especially three years out form the end of the Great Recession.