So it begins. The GDP shrank .3% in Q3, although some had feared it could drop by as much as .5%
Real gross domestic product — the output of goods and services produced by labour and property located in the United States — decreased at an annual rate of 0.3 per cent in the third quarter of 2008,
(that is, from the second quarter to the third quarter), according to advance estimates released by the Bureau of Economic Analysis
It’s be great to see some weekly numbers here, just to see how ugly those last few weeks of September were.
So besides the slight beat, what was the bright spot for the quarter?
Notable offsets were an upturn in inventory investment and an acceleration in federal government spending.
Government spending. Awesome.