What Are Americans Spending The Little Money They Have On?

What Are Americans Spending The Little Money They Have On?

Processed vegetables up, eating out at Applebee’s down. [More]

US Economy Grew 2.5% In Third Quarter, Department of Commerce Report Says

US Economy Grew 2.5% In Third Quarter, Department of Commerce Report Says

Buoyed by brisker consumer and business spending, The American economy grew at an annualized rate of 2.5% in the third quarter, according to a report released this morning by the U.S. Department of Commerce, [More]

Twenty Cities That Are Doing Better Than The Rest Of The Country

Twenty Cities That Are Doing Better Than The Rest Of The Country

The Daily Beast has come up with a list slideshow of 20 “recession-proof” cities across the U.S. The 20 that made the list each showed growth since 2007 in three categories: overall employment, per capita personal income, and metropolitan area gross domestic product (GDP). [More]

Problem Solved! GDP Shows 3.5% Growth

Problem Solved! GDP Shows 3.5% Growth

No, just kidding. We know you still don’t have a job. The Commerce Department announced that the economy grew 3.5% in the third quarter — snapping the longest streak of economic contraction since 1947.

Economy: GDP Down 6.1% Worst Performance In 50 Years

Economy: GDP Down 6.1% Worst Performance In 50 Years

Hey, guess what? The economy really sucks. The GDP dropped 6.1% annually, after plunging more than expected in the past few months. How much more than expected? Well, it’s the worst six month drop since 1957-58.

http://consumerist.com/2009/02/27/the-gdp-dropped-62-in/

The GDP dropped 6.2% in the fourth quarter, the largest drop since 1982. Reuters says that a month ago the Commerce Department estimated that the economy shrank at a 3.8 percent pace in the October-December quarter. Whoopsies! [Reuters]

Money Can Apparently Buy Happiness

Money Can Apparently Buy Happiness

Feeling down? Money might help, according to Betsey Stevenson and Justin Wolfers. The Wharton economists released a paper arguing that countries with higher gross domestic products have happier citizens. The study shatters the conventional wisdom known as the Easterlin Paradox, which holds that GDP and happiness are largely unrelated.