Fourth Quarter GDP Revised Down to 2.2%

Published on:
28 February 2007 at 04:47 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00008536-fourth-quarter-gdp-revised-down-to-22/

It’s up, then down, then up again before heading <i>way</i> down, then middling for awhile before going either up or down again. It’s the U.S. economy: otherwise know as Chinatown.

Q4 numbers were given an artificial boost when first reported. Upon further reflection, government data now show that the economy has grown at a rate of less than 3 percent for three quarters in a row.

Consumer spending isn’t to blame. That’s remained healthy. What has slowed is the housing market. Add to that a decrease in investments into businesses and inventories and hello, downturn.

You can read MarketWatch’s full rundown of the story, including the government’s report, here.

Fourth Quarter GDP Revised Down to 2.2%

Unknown Author

Featured Resources

Webinars

Help Wanted: Predictive, Collaborative and Intelligent Contact Data

About