Thursday, February 28, 2008

Globalization is saving our a**es

Link HT: Econopundit

The trade deficit narrowed to an annualized $506.8 billion, adding 0.9 percentage point to GDP.

Excluding the improvement in trade, the economy would have shrunk at a 0.3 percent annual pace, the first decline since 2001, when the U.S. was last in a recession.