December 21, 2005

Steady growth



Well, they have tinkered a little more with the 3Q GDP numbers and revised inflation up a little, but the +4.1% figure is still amazing in light of the hurricanes. The chart looks pretty good: stable growth since let's see, what happened in 2003 that frequently spurs economic growth? The Wall Street Journal:
The Commerce Department said Wednesday that gross domestic product, the broadest measure of economic growth, expanded at a seasonally adjusted 4.1% annual rate in July through September. The report was the government's third and final reading on the economy's performance in the third quarter.

The revised growth rate was lower than the earlier estimated 4.3%, a figure issued a month ago, but better than the second quarter's 3.3% rate and first quarter's 3.8%. It was the strongest quarterly gain in GDP since the first three months of 2004, when GDP rose at a 4.3% rate.



UPDATE: Larry Kudlow has good stats on housing as well, Dosn't look like the "housing bubble" will destroy this economy. Although I cannot recommend investing in the $1.5 million studio apartment Lileks's links to.

Economics and Markets Posted by jk at December 21, 2005 10:59 AM