U.S. Economy Growing at Fastest Pace of the Year - Bloomberg
The U.S. economy may end 2011 growing at its fastest clip in 18 months as analysts increase their forecasts for the fourth quarter just a few months after a slowdown raised concern among investors.
Economists at JPMorgan Chase & Co. (JPM) in New York now see gross domestic product rising 3 percent in the final quarter, up from a previous prediction of 2.5 percent. Macroeconomic Advisers in St. Louis increased its forecast to 3.2 percent from 2.9 percent at the start of November, while New York-based Morgan Stanley & Co. boosted its outlook to 3.5 percent from 3 percent.
“The incoming data on consumption, business spending and residential investment all point to GDP growth in the fourth quarter tracking 3.3 percent,” said John Herrmann, senior fixed-income strategist at State Street Global Markets in Boston.
My article is from the 22, yours is from 18
Shhh... Revised Q3 GDP Drops By 20% To 2.0%, Misses Expectations Of 2.5% By 2 Standard Deviations
So much for the miraculous inventory expansion. JPM's Michael Feroli was spot on: the strategist who predicted a significantly below par revised Q3 GDP print of 2.0%, was right on the dot. Advance GDP dropped from 2.5% to 2.0%, missing expectations of an unchanged print. The impact was entirely due to Inventories detracting from growth, with the Private Inventory number declining from -1.08% to -1.55%. And to those expecting a surge in Q4 GDP based on inventory restocking, which would be virtually all Wall Street economists who missed today's number by 2 standard deviations, we have one thing to say: it ain't happening. In fact, liquidations are coming first, fast and furious with Personal Consumption coming at 2.3%, and missing estimates. Needless to say futures, are not happy.
Truth is hard for the Left
In fact, it is there worst enemy