November 29, 2006

YOU CAN LIFT THE PILLOW NOW, MR. BERNANKE:

US economic growth beats forecasts (Eoin Callan and Krishna Guha, November 29 2006, Financial Times)

The US economy grew at a rate of 2.2 per cent in the third quarter, faster than previously thought, while wage growth earlier this year was revised down on Wednesday, adding to evidence that the economy is on track for a soft landing.

This picture was reinforced by the latest Fed Beige Book survey of economic conditions, which offered little sign of a deterioration in the US economy during October and early November.

Posted by Orrin Judd at November 29, 2006 5:59 PM
Comments

I was amused this afternoon that NPR announced this upgrade as a "slight" increase. 1.6% to 2.2% is a 37.5% adjustment. Slight indeed.

Posted by: jim hamlen at November 29, 2006 10:55 PM

By the same token, new housing starts "fell sharply again" according to NPR.

Posted by: Jayson at November 29, 2006 11:49 PM
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