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February 09, 2010

That scorching GNP? It hit a brick wall in December

Wholesale inventories were down in December after going up the previous months.

Businesses slashed wholesale inventories sharply in December, a much weaker showing than expected and a troubling sign that companies are still too pessimistic about the economy to begin restocking shelves on a sustained basis...
It was a big slowdown in the pace of inventory reductions that contributed nearly two-thirds of the growth in the overall economy in the fourth quarter as measured by the gross domestic product.

The GDP shot up at an annual rate of 5.7 percent in the October-December period, the strongest showing in six years but the concern is that this boost from inventories will be temporary and GDP will slow significantly in coming quarters.

The good news is that your regularly scheduled recession/slowdowns will be back to normal by the end of this quarter, with a chance of depression by the new fall series pilots. Until then, continue your funemployment and dancing with the stars as usual. The sage wisdom and steady hand of Obama and Congress have everything under control.


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posted by Purp at 12:01 PM

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