U.S. GDP revised down to 2.2% annual rate

[The Master]

The U.S. economy grew at the fastest pace in two years during the third quarter, but the revised annual growth rate of 2.2% was much slower than initially reported, the Commerce Department estimated Tuesday. U.S. real gross domestic product increased for the first time since the spring of 2008, boosted by higher consumer spending, a rebound in investments in homes, a slower pace of inventory reduction, more exports, and robust government spending. Economists surveyed by MarketWatch were expecting only a minor revision to 2.7% in the third estimate. The revisions to third-quarter GDP were in three major areas: Business investment, consumer spending, and inventories

[Source: Marketwatch]

[The Master]

There sure are a ton of revisions going on lately ... and they are all heading downhill. Coincidence? I think not.

[montec]

A quote

Quote:

All the solid, can't be debated economic numbers are over 20% down from 2007. The "estimates", "survey" and stock market show "growth"!

Check tax revenues, port of entry receipts, global freight movements, SNAP report, unemployment FILINGS, not the monthly SURVEY, petroleum distillates distribution, new home builds, and I could go ON AND ON!

ALL NUMBERS 20% DOWN FROM 2007. There is NO recovery, just a temporary settling at the bottom until it slides off another cliff.

[Politicus]

Got to make the sheep think things are getting better so what little wealth they have can be sucked from them, like sucking the marrow from bones is the final use of a meat animal.