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And usually only when coming off a recession, when it's relatively easy to achieve high growth rates simply by putting people back to work. The last time the U
by nostrademons 2y ago
And usually only when coming off a recession, when it's relatively easy to achieve high growth rates simply by putting people back to work. The last time the U.S. grew more than 5.5% YoY and it wasn't a recession recovery was 1978. More typical averages have been 2-3%.
It's almost unheard of for a developed economy to consistently grow at 5%+. To get those sort of growth rates you need robust productivity increases fueled by technology and innovation, and productivity increases have been hard to come by recently.