Economic Prediction? Might as Well Forecast the Weather

by Anirban Basu 23. April 2014
Recent Weak Data Largely Attributable to Atmospheric Conditions The global economy expanded by a below-average 3 percent last year. The U.S. economy expanded by less than 2 percent, though the latter half of the year was much better than the first. The U.S. economy expanded at a 4.1 percent annualized pace during the third quarter (more than a third of that was due to inventory accumulation) and then followed up that performance with 2.6 percent growth during the fourth. That means that durin... [More]

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