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Home Publications Blogs Beat the Press U.S. Growth in 2010 is Projected to Be Worse Than Anemic

U.S. Growth in 2010 is Projected to Be Worse Than Anemic

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Thursday, 01 July 2010 08:19

That's what readers could infer from the NYT's description of the 2.9 percent projected growth for Japan as "anemic." Japan's population is decreasing at the rate of 0.2 percent annually. Therefore this growth rate translates into a projected per capita growth rate of 3.1 percent.

By contrast, most forecasts put U.S. GDP growth in the range of 2.0-3.0 percent. Since the population in the United States is growing at a rate of 0.9 percent annually, this translates into a per capita GDP growth rate of 1.1 to 2.1 percent. In other words, the United States is expected to have a per capita growth rate that is least a percentage point slower than the Japanese rate that was considered "anemic."

Comments (2)Add Comment
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written by jammu, July 01, 2010 2:00
I haven't heard any caterwauling on the tee vee about inflation for a while...that's a relief!
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written by izzatzo, July 01, 2010 3:00
This is wonderful news for the upcoming austerity programs that will replace stimulus spending and rescue the US economy. Use per capita measures of GDP instead of total measures.

Specifically, count only those employed with jobs for per capita GDP calculations since they're the only ones producing anything. Makes sense. That way, as unemployment grows higher, per capita GNP grows higher as well. As the austerity programs push the economy into a depression, per capita GDP will go higher than ever and the Teabaggers can call it a success.

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About Beat the Press

Dean Baker is co-director of the Center for Economic and Policy Research in Washington, D.C. He is the author of several books, his latest being The End of Loser Liberalism: Making Markets Progressive. Read more about Dean.

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