Tuesday, November 22, 2011

Q3 GDP revised lower

The revision of Q3 GDP down to +2.0% from +2.5% isn't going to go over well with traders, but this is the view in the rearview mirror and says nothing about the current quarter (Q4) or beyond. Macroeconomic Advisers (MA) is still forecasting GDP growth of +3.2% in Q4. For the record, they had been forecasting +2.2% of Q3 GDP, which isn't that far off from the official number we got today.

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