Written by: Beck
From the Senate's
Joint Economic Committee:
The Bureau of Economic Analysis (BEA) reported today that real gross domestic product (GDP) grew at an estimated 3.0% annual rate in the 2nd quarter of 2004, the 11th straight quarter of economic growth. The moderation of growth from an upwardly revised 4.5% growth in the 1st quarter was due largely to a pause in consumer spending. The BEA also released annual revisions to past data to incorporate more complete data than previously available. Average quarterly growth between the 2nd quarter of 2003 and the 1st quarter of 2004 was revised up to 5.1% from 4.8%. After adjusting for inflation, GDP has increased at a robust 4.8% pace over the past year. The annual revisions suggest that growth over the past year has been steadier than initially estimated.
Question: has any incumbent president ever lost an election with an economy this strong?
