Third-quarter GDP revised upward to 2.2%

[Roland99]

http://www.marketwatch.com/news/story/us-gdp-growth-revised-higher/story.aspx?guid=%7BD381BFDE%2DF57D%2D49AA%2D814C%2D4004D878071E%7D&siteId=

WASHINGTON (MarketWatch) -- The U.S. economy grew at a 2.2% annual pace in the third quarter, a bit faster than the 1.6% initially estimated, but down from the 2.6% in the previous quarter, the Commerce Department reported Wednesday in its first revision to the gross domestic product report.

Revisions came largely from greater building of inventories and lower imports than originally assumed. Business investment also grew more than first estimated, while consumer spending was slightly slower. Read the full government report.

...

However, others said the report did not provide the all-clear signal. "The upward revision does not signify greater strength in the economy," wrote Roger Kubarych, an economist for UniCredit Markets.

Because much of the upward revision was due to inventory growth, the implications for the fourth quarter's growth could be negative, wrote Joshua Shapiro, chief economist for MFR. "Growth in the fourth quarter looks to have gotten off to a soggy start."

[whistle]

1. Now they are counting the nuclear weapons sent to Israel

[Joanne98]

3. Amazing isn't it.

[aquart]

2. Is this still the economic model that doesn't include jobs?

[Roland99]

4. Quite. In fact, it includes the shedding of mfg jobs.