- CNBC -
“Growth recession” is a term that means the economy actually is growing but not at a fast enough pace to head off rising unemployment, which is at 9.2 percent and trending higher.
The term was unleashed Friday by Deutsche Bank economist Joseph LaVorgna, who said the government’s latest reading on the economy showing just a 1.3 percent gain in gross domestic product in the second quarter is ominous in more ways than one.
“The disappointing Q2 GDP results and downward revisions to the prior three quarters lead us to believe that this (growth recession) indeed is the case,” LaVorgna wrote in an analysis.
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