GDP growth tops estimates
Posted on October 29, 2009 at 7:44 amThe consensus from economists on third-quarter economic acticity had been growth of 3.3 percent. The Bureau of Economic Analysis says it was a little higher than that, with the auto industry — thanks to cash for clunkers — accounting for almost half of the growth.
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The dismal scientists grow more optimistic
Posted on September 2, 2009 at 2:24 pm
On the back of cash for clunkers and other encouraging economic stats, economists’ forecast of third-quarter GDP growth have nearly doubled since late July.
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GDP number suggests inventory bottom
Posted on April 29, 2009 at 8:22 amThe headline first-quarter GDP number looks bad, but companies’ push to slash inventories may mean a manufacturing bounce later in the year.
Companies trimmed stockpiles at a $103.7 billion annual rate last quarter, the biggest drop since records began in 1947. Excluding the reduction, the economy would have contracted at a 3.4 percent pace.
“This is the combination you want for a turn in the economy — better sales and an inventory correction,” John Silvia, chief economist at Wachovia Corp. in Charlotte, North Carolina, said before the report.
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‘A period of maximum stress’
Posted on February 23, 2009 at 1:24 pmThe National Association of Business Economics says the first quarter’s GDP number will be down 5 percent, which NPR says is more than three times its previous forecast.
“As the news on the economy has darkened, so, too, have the forecasts,” said Ken Mayland, president of ClearView Economics. “We are suffering a period of maximum stress on the economy.”
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