Rocky Revision

By Econ70 | 12/05/2013

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…

Read More