Negative GDP? Think instead, D.G.P. (Don’t Gotta Panic)
Usually when GDP growth unexpectedly drops below zero, economists and markets start screaming “recession!!” With today’s print of GDP (gross domestic product) showing a headline 0.1% contraction, I’d encourage you not to worry too much and think instead about shifting those letters to DGP and remember “Don’t Gotta Panic.”
Today’s initial estimate for fourth-quarter 2012 GDP wasn’t stellar, but it sure was a lot better than the headline 0.1% contraction suggested. Why don’t we have to panic? Read more
