US In Second Slowest Post Recession Recovery Since WWII: 1980-81 Recovery Slower

From The Wall Street Journal Real Time Economics, "Current Recovery Second Slowest Postwar Rebound" by Eric Morath and Sarah Portlock:

From the second quarter of 2009, when the recession ended, through 2011, the economy grew a total of 5.8%, a downward revision from a 6.2% gain, the recasting of the past three years’ gross domestic product figures found. Only the brief 4-quarter recovery in 1980 and 1981, when the economy grew a total of 4.4%, was weaker in the past 60 years.

Growth in the early part of 2010 wasn’t nearly as strong as previously thought, with GDP advancing 2.3% and 2.2% in the first and second quarter, respectively. That’s down from prior readings of near 4.0% annualized growth. Business investments in the first half of 2010 are now seen as being much weaker.

Conversely, the data showed the most recent recession was milder than prior readings – though still the largest downturn since the Great Depression. During the recession, which began in the fourth quarter of 2007, GDP declined 4.7%, compared to a previous reading of down 5.1%.