We haven't been through anything this bad in a while. The last time the economy shrank faster than 3% was in the first quarter of 1982, when GDP dropped at a 6.4% annual rate. Full Story »
Posted by Derek Hawkins
While so many reporters seem to try to get to the bottom of how far the economy will fall, Time's Justin Fox looks instead at how forecasters come up with their numbers. I'm not sure that's where he intended the story to go, because it isn't the only thing covered and the lede promises to try predict how far and how fast the economy will fall, but I was happy to see it look at predictors, not just predictions.
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