Friday, October 30, 2009
From a report at MarketWatch, here's a good run-down by Steve Ricchiuto on how yesterday's GDP number was not quite as good as the headline number implied.
Like a few other "glass half empty" types (including yours truly), it's not too difficult for Ricchiuto to take out a few of the obvious one-off factors during the third quarter to reveal a much smaller number right around zero.
Of course, by the looks of things in Washington, there is good reason to think that what was a one-off event in mid-2009 might just be "business as usual" in 2010. The U.S. economy may need permanent stimulus.