GDP Q3 (final): +3.1% vs. +2.8% consensus, +2.7% previous estimate, 1.3% Q2.

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Tom Armistead Comments (4558)
 
I think ECRI's recession call is in a little bit of trouble here.
20 Dec 2012, 08:41 AM Reply Like

youngman442002 Comments (4978)
 
Actually most of it is inventory building and government...very little private investment
20 Dec 2012, 08:54 AM Reply Like

Sirvasq Comments (76)
 
Lol. Quality of GDP sniping. Now you know why the transports are hitting new highs and the world is and will be bidding up the dollar and US markets.
20 Dec 2012, 08:58 AM Reply Like

wigit5 Comments (2472)
 
Santa came early this season! Hope Q4 holds up... and hope congress and the POTUS can start to agree on something...
20 Dec 2012, 09:01 AM Reply Like

OptionManiac Comments (3064)
 
I echo your comments. Curious to see if they can act like real grown-ups.
20 Dec 2012, 09:11 AM Reply Like

djw231 Comment (1)
 
I prefer to just get nothing done and point fingers.
20 Dec 2012, 04:05 PM Reply Like

David Urban Comments (1034)
 
I think .9% of the original forecast was government priming ahead of the election.

It is ok but not the type of report that builds long-term growth. We need more private investment that leads to stronger job growth.

You cannot add ~170k a month in jobs when ~230-250k new entrants come into the workforce every month and expect strong growth.
20 Dec 2012, 09:11 AM Reply Like

David Urban Comments (1034)
 
A strong economy is not build on the Fed buying an estimated $980 billion in Treasury and MBS securities in 2013 and the government heavily intervening to push up GDP growth.

That is not a strong foundation for the future.

You need a clear and simplified tax policy (2012 tax code is over 73,000 pages) that supports capital formation and business investment.

http://bit.ly/RGatjk
20 Dec 2012, 09:14 AM Reply Like

Moon Kil Woong Comments (8817)
 
I agree, there are a lot of artificial forces here that are muddling the economic signals on purpose. I agree with those seeing looming weakness ahead in 2013 with or without a fiscal cliff solution. This will be the excuse for the fact that the economic up cycle was ruined by Federal Reserve QE and government wastage preventing any structural change such as the death of bloated inefficient cash hoarding TBTF banks and massive amounts of money going to keep bloated industries like construction alive at the cost of letting the economy find new business sectors to move into. In fact, the massive amount of unnecessary construction is keeping home prices down and extending the real estate glut into a new recession.
20 Dec 2012, 12:34 PM Reply Like

OptionManiac Comments (3064)
 
Huh? Lowest inventory of homes since 2005.
20 Dec 2012, 01:10 PM Reply Like

David Urban Comments (1034)
 
Since the banks quit doing foreclosures inventory levels have dropped.
20 Dec 2012, 02:58 PM Reply Like