Rocky Revision
12/05/2013 | | econ70, Economic forecasting, economist on radio, economist on TV, eisenberg and economics, Eisenberg and housing economics, Eisenberg and public speaking, Elliot eisenberg, funniest economist, funny housing economist, Graphsandlaughs, graphsandlaughs and eisenberg, housing sales, MLS, mortgage banking, Multiple listing service, No tapert talk, politics and economics, Public speaking economist, Second estimae of Q3 GDP, taper talk
While Q3 GDP was revised up from 2.8% to 3.6%, hold the applause. Inventory growth was raised by 0.85%, essentially responsible for the entire increase. Worse, household spending was revised down from a growth rate of 1.5% to 1.4%, and net exports were revised down by 0.24%. Despite the great headline, this was a weak report. Bernanke-Yellen are not talking December taper. The Grinch that stole low rates remains MIA.