Thursday, March 29, 2012

Q4 GDP Revised To 3%

Feeble. To get an idea of just how feeble, the 2011 Q4 GDP was 3.2%. And that was considered feeble. Considering that somewhere in the neighborhood of 10% of our economy is now budget deficits, the real economy is very negative.
Real gross domestic product — the output of goods and services produced by labor and property located in the United States — increased at an annual rate of 3.0 percent in the fourth quarter of 2011 (that is, from the third quarter to the fourth quarter), according to the “third” estimate released by the Bureau of Economic Analysis. In the third quarter, real GDP increased 1.8 percent.
The GDP estimate released today is based on more complete source data than were available for the “second” estimate issued last month. In the second estimate, the increase in real GDP was also 3.0 percent (see “Revisions” on page 3).
And on top of that, economists are crediting a mild winter for boosting economic statistics.

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