The new GDP numbers came out today and the last quarter grew at a 4% rate. I do not believe the number is accurate. 4% would indicate that the economy is doing well and I don’t see it. In my area (southwest Riverside County CA.) stores, restaurants, movie theaters, and even McDonald's are empty. Traffic is still lighter than what I remember it being before the great recession. Yes, foreclosures have decreased substantially and layoffs are down, but things are not getting better. It’s as if we have hit a plateau. 4% would mean that businesses are hiring and sales are up, but I don’t see it. Maybe things are better someplace else, but here in Southern California, things are not improving. Maybe the number is an optimistic estimation that will be revised lower over the coming months? It’s not like that has not happened before. I just don’t see a recovery anyplace I look.
What do you think?