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From the Archive: How Inflation Works
Ones and Tooze
Is the Supply Side of the Pandemic Related?
Consumer spending grew annualized rate of 12 % in the second quarter of 20 21. That's april to june. The crucial thing to understand about these kind of numbers is that american statisticians annualize growth rates. So it's not that it will actually grow 12 % over the course of the whole year, but if the rate of growth in that second quarter were to continue over a year, hypothetically, it would add up to a 12%.
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