3rd quarter GDP revised.. downward.. (9/11, economy, percent, news)

[pghquest]

Recovery's Pace Slower Than First Thought | 89.3 KPCC

The economy in the third quarter grew at a slower pace than first thought, the Commerce Department said Tuesday in a report that pegged expansion in the July-September period at 2.8 percent.


3.5 percent annualized growth reported a month ago and reflect weaker consumer spending and commercial construction as well as a larger trade deficit.

[GOPATTA2D]

Some of that velocity Saggy is always talking about.

[sanrene]

And.....revised downward some more.

Hot Air » Blog Archive » Q3 GDP revised sharply downward — again

Assuming that to still have contributed at least 1.5% of the final GDP, that leaves a rather pathetic 0.7% growth in Q3 without it. It’s barely a recovery at that level.

Commerce revised some other base numbers. Business investment, a key indicator of recovery, fell 5.9% instead of the previously reported 4.1%.

[cleanhouse]

Originally Posted by GOPATTA2D

Some of that velocity Saggy is always talking about.

Hopefully we see a post from saggy on here. It will provide quite the comical entertainment.

The US will not see 3% annual GDP growth until after 2010. When we have gridlock.