GDP Weaker than it Seems, Fed on Deck
Today's GDP release had some good points, but overall it looks weaker than the headline to me.
Real final sales, which is a measure of total current activity in the economy, rose just 1.2% on an annualized basis. That is down considerably vs. the 2.4% rise last quarter. Over the last year, that measure has risen just 1.87% vs. a long-term average of more like 3%, and a non-recessionary average that would be a couple ticks higher. So consumption is still far underperforming what it should be doing....438 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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