Wikinvest Wire

Cash for Clunkers distorts Q3 GDP?

Thursday, October 29, 2009

The folks at Clusterstock put together the graphic you see below as their "Chart of the Day" today and it tells quite a different story about third quarter economic growth than the one you've probably been hearing and reading over the last eight hours.
IMAGE They note, "According to the Bureau of Economic Analysis (BEA), motor vehicle output spiked a seasonally-adjusted 157.6% quarter on quarter. This is completely unprecedented. Vehicle output is clearly going off a cliff next quarter."

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