New estimates released today by the U.S. Bureau of Economic Analysis show that economic growth slowed in most states and regions of the U.S. in 2007. Real GDP growth slowed in 36 states, with declines in construction and finance and insurance restraining growth in many states.1 Nationally, real economic growth slowed from 3.1 percent in 2006 to 2.0 percent in 2007, one percentage point below the average growth of 3.0 percent for 2002–2006. Read more.

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U.S. STATE ECONOMIC GROWTH SLOWED IN 2007

Posted on 06.06.08 to BEA, Economics. Subscribe to follow comments on this post. No comments yet. Add your thoughts or trackback from your own site.

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    A…powerful tendency operates within the modern corporate enterprise. Personal prestige and position in any organization turns in substantial measure on the number of one’s subordinates. And one’s comfort and contentment are notably improved by the availability of subordinates to whom tedious thought and duty can be passed. Therefore the first instinct of anyone appointed to a corporate post at any level above the lowest is to acquire the assistants who are so serviceable to both prestige and ease of effort. From this, in turn, comes the powerful dynamic of bureaucratic expansion.

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