GDP Q3 (2nd estimate): +2.7% vs. +2.8% consensus, +2% previous estimate, 1.3% Q2.
Nov 29 2012, 08:30 ET
vs. +2.8% consensus, +2% previous estimate, 1.3% Q2.
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Helps explain the improved job mkt for those of us that were cynical about the numbers. Interestingly this was one of the biggest revisions in a positive direction that we have had since the end of the recession - I was expecting the opposite.
Buying an election?:
"Real federal government consumption expenditures and gross investment increased 9.5 percent in the third quarter, in contrast to a decrease of 0.2 percent in the second. National defense increased 12.9 percent, in contrast to a decrease of 0.2 percent. Nondefense increased 3.0 percent, in contrast to a decrease of 0.4 percent. Real state and local government consumption expenditures and gross investment decreased 0.4 percent, compared with a decrease of 1.0 percent."
So much for govt restraint.
29 Nov 2012, 08:44 AM
Can't keep politics out of anything, can we? lol
29 Nov 2012, 08:49 AM
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