Friday, February 28, 2014

Big cut in US fourth-quarter GDP growth looms

CNBC reports:
The U.S. government is set to slash its estimate of fourth-quarter growth as exports and restocking by businesses were less robust than previously thought, leaving the economy on a more familiar path of modest expansion.

Gross domestic product growth will probably be lowered to a 2.5 percent annual rate, according to a Reuters poll of economists. That would be down sharply from the 3.2 percent pace reported last month and the 4.1 percent logged in the third quarter.
The Obama recovery is amazingly not much of a recovery.