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Home3rd Qtr GDP Revised Up to 3.6%: Where’s the Beef?
Posted by Larry Doyle on December 5th, 2013 9:38 AM |
Not to indiscriminately throw any cold water on the just released upward revision to 3rd quarter GDP (revised from 2.8% to 3.6% . . . hmmmmm) but before we break out the pom-poms, let’s take a harder look at the data as released by the Bureau of Economic Analysis,
Real gross domestic product — the output of goods and services produced by labor and property located in the United States — increased at an annual rate of 3.6 percent in the third quarter of 2013 (that is, from the second quarter to the third quarter), according to the “second” estimate released by the Bureau of Economic Analysis. In the second quarter, real GDP increased 2.5 percent.
Are we to blindly trust the report? That’s not how we navigate in these parts. (more…)
