by Calculated Risk on 2/05/2020 05:04:00 PM

Five years ago I wrote Demographics and GDP: 2% is the new 4%.

I started that post with an excerpt from a WSJ opinion piece:

"The fourth quarter report means that growth for all of 2014 clocked in at 2.4%, which is the best since 2.5% in 2010. It also means another year, an astonishing ninth in a row, in which the economy did not grow by 3%."

I noted that it wasn't "astonishing" if you paid attention to demographics!

The WSJ could update that piece today and note that growth for all of 2019 clocked in at 2.3%. And finish with "It also means another year, an astonishing fourteenth in a row, in which the economy did not grow by 3%."

Although it is still not "astonishing".