Business Investment Drought Worsens
May 27, 2011 at 10:42 AM EDT
To me, the big news in the first quarter GDP data is that the business investment drought has worsened. I compare the actual level of real business investment with the long-term trend level (assuming that the ten-year growth rate as of 2007IV had continued). Here’s what we see: As of the first quarter, real nonresidential investment is [...]