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March 27, 2010

Scorching 4Q 5.9% GDP growth revised down to 5.6%

Old And Busted: "Unexpected"
The New Hotness: "Revised"

...The US economy expanded less vigorously than previously estimated in the final three months of 2009, but still showed its biggest rise in six years.

According to the US Commerce Department, the economy expanded 5.6 per cent between October and December, down from an earlier estimate of 5.9 per cent published last month.

The downward revision, slightly worse than the 5.7 per cent expected by economists, was driven by a decline in business investment and inventories. Consumer spending was also less than originally thought...

Clue: Unemployed people don't buy a lot of stuff.


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posted by Purp at 03:28 PM

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