October's drop in consumer spending is a bad start to Q4 and sparks a round of cuts in Q4 GDP...


October's drop in consumer spending is a bad start to Q4 and sparks a round of cuts in Q4 GDP forecasts. But the real risk, as RBC sees it, is that superstorm Sandy had enough of an impact early in November to offset what seems to be an OK start to the holiday shopping season. If November spending comes in soft, the possibility of a negative sign in front of Q4 GDP is "non-trivial."
Comments (3)
  • untrusting investor
    , contributor
    Comments (9904) | Send Message
     
    Ok, we should see the numbers soon enough to see how non-trivial actually comes in.
    30 Nov 2012, 05:38 PM Reply Like
  • McOption
    , contributor
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    Sandy happened on the next to last day of October, yet everyone is blaming negative October reports on the hurricane.

     

    Next they will be blaming them on Bush.
    30 Nov 2012, 09:53 PM Reply Like
  • jhooper
    , contributor
    Comments (7184) | Send Message
     
    The Soviet Union blamed their poor agriculture production on the weather as well. Its a trademark of coercives aka socialist/communist/pr... Poor performance is always somebody else's fault. The scary thing about excuse making is there are always excuses to be made. The Soviets did it for 70 years. We've heard it for 4 years. It is just beginning.
    1 Dec 2012, 07:08 AM Reply Like
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