Saturday, October 30, 2010

Third quarter GDP growth lags again

Another disappointing (but not surprising) GDP report for the US in the 3rd quarter: up 2%, slightly better than 1.7% in the 2nd quarter but nowhere near the 3% plus rates needed to bring down unemployment.  WSJ reports that much of the growth came from businesses expanding inventories, investing in equipment and structures.  Household consumption grew 1.8 percent, the highest rate since 2006.  For more details, see the press release from the Bureau of Economic Analysis. 

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