Wednesday, November 25, 2009

GDP Revised Down-Now There’s a Surprise (Not)

The nation's economy didn't grow as fast as first believed, hinting that the economic recovery still has a ways to go.

Go figure.

I think a recent blog post of mine was suspicious of the GDP number. GDP = Gross Deception Picture

The Commerce Department said third-quarter U.S. gross domestic product grew at an annual rate of 2.8% in the third quarter. That compares to its initial GDP reading of 3.5% growth offered at the end of October.

Consumer spending grew at a 2.9% rate. Still, that's softer than the 3.4% rise estimated in the advance report.

Investing Lesson:

Things are not always as they appear.

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