If We're In A Recession, Why Does GDP Keep Growing?

Posted on August 28, 2008 by LCT Magazine

BUT, BUT, BUT . . . CATASTROPHE IS IMMINENT? We're starting to think the search for a recession resembles the search for WMDs in Iraq. From global meltdowns, to credit crunches, to soaring gas prices, to housing plunges. . . GDP still managed to grow a stunning 3.3 percent in the second quarter, IN SPITE OF, all the oracles of doom. Story here. Where is the beckoning precipice to economic misery? Could everyone be cutting back on spending because, well, "everyone else is doing it?" One thing we can say for sure: No matter how much or how little the economy grows, economists will always predict it's precarious. So now, economically, we have made it through June 30, 2008 without a GDP contraction. A recession qualifies as TWO consecutive quarters of negative GDP growth. Although the chauffeured transportation industry has contracted by 4% of all operators, is that really because of economic reality on the ground, or clients cutting back because we all BELIEVE there is a recession? -- M.R.

View comments or post a comment on this story. (0 Comments)

More LCT Blog Blog Posts

March 8, 2017

Immigration Issues Can Hit Limo Operators

Illegal or not, immigrants in one California region spend hard-earned money on renting stretch limousines.

March 1, 2017

Did The Dent Fairy Come To Visit You?

Unlike the tooth fairy and baby teeth, the dent fairy never runs out of vehicles.

February 15, 2017

My Unofficial International LCT Show Agenda

The suite parties, charity fundraisers, and off-the-grid get togethers round out a complete global industry trade show.

February 14, 2017

How To Practice Common Sense Customer Service

It's one of the most important and difficult qualities to hire for, since it emerges in unexpected situations on the job.

February 1, 2017

3 Big Fouls From My First Uber Rides

Operators don't have much to worry about if TNC drivers keep acting like this.

See More

Facebook Comments ()

Comments (0)

Post a Comment



See More

LCT Store

LCT Magazine - May 2017 $12.95 Post International LCT Show Issue COVER STORY: * Best Operators of 2017: Their Winning Secrets Revealed * *


Experience the three annual industry events for networking for business, showcasing vehicles and products, and getting the tools for success.

Read About Your Region

What’s Happening Near You?
Click on any state to see the latest industry news and events in that region.

More From The World's Largest Fleet Publisher

Automotive Fleet

The Car and truck fleet and leasing management magazine

Business Fleet

managing 10-50 company vehicles

Fleet Financials

Executive vehicle management

Government Fleet

managing public sector vehicles & equipment



Work Truck Magazine

The number 1 resource for vocational truck fleets

Metro Magazine

Serving the bus and passenger rail industries for more than a century

Schoolbus Fleet

Serving school transportation professionals in the U.S. and Canada

Please sign in or register to .    Close