Chart of the Day: GDP Growth in Q2

The US economy grew 4.1 percent in the second quarter:

That’s a big number, but it might be an outlier. GDP is a little unusual in being routinely reported as growth from the previous quarter, rather than the more normal growth over the previous year. Year-over-year growth is less noisy and is therefore a better guide to what’s really going on, so I’ve included both in my chart this time around. As you can see, YOY growth was 2.8 percent in Q2, and this number has been growing steadily since early 2016. This is a positive sign, and who knows? Maybe we’ll hit 3 percent by the end of the year.

Either way, though, I think 2.8 percent—which is a perfectly strong number—is most likely the best indicator of actual economic growth right now. Time will tell how long we can keep this up.

DOES IT FEEL LIKE POLITICS IS AT A BREAKING POINT?

Headshot of Editor in Chief of Mother Jones, Clara Jeffery

It sure feels that way to me, and here at Mother Jones, we’ve been thinking a lot about what journalism needs to do differently, and how we can have the biggest impact.

We kept coming back to one word: corruption. Democracy and the rule of law being undermined by those with wealth and power for their own gain. So we're launching an ambitious Mother Jones Corruption Project to do deep, time-intensive reporting on systemic corruption, and asking the MoJo community to help crowdfund it.

We aim to hire, build a team, and give them the time and space needed to understand how we got here and how we might get out. We want to dig into the forces and decisions that have allowed massive conflicts of interest, influence peddling, and win-at-all-costs politics to flourish.

It's unlike anything we've done, and we have seed funding to get started, but we're looking to raise $500,000 from readers by July when we'll be making key budgeting decisions—and the more resources we have by then, the deeper we can dig. If our plan sounds good to you, please help kickstart it with a tax-deductible donation today.

Thanks for reading—whether or not you can pitch in today, or ever, I'm glad you're with us.

Signed by Clara Jeffery

Clara Jeffery, Editor-in-Chief

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