October 29, 2009 Chart of the Day — 3rd Quarter GDP Up
Gross domestic product (GDP) is up for the third quarter of 2009. Not only is GDP up, but it is the largest increase in 8 quarters. So are we out of this recession? The economy is looking much better, but there are still some concerning issues, especially the high rate of unemployment (9.8% nationally). And one reason the 3rd quarter GDP is up 3.5% is due to the cash for clunkers program…there is still a lot of uncertainty about what this means for the 4th quarter.