Comparing Recessions 4
GDP was down at a 6.2% annualized rate in the last quarter of 2008 (revised figure). Earlier I criticized the Minneapolis Fed for a peculiar way of presenting data comparing recessions. I've been impressed, however, with how they have responded since I (and others) raised this issue. First, they quickly clarified what they were doing. Second, today they have added a very nice javascript which lets you compare output and employment during this recession to as many others as you like with a few clicks. Check it out.