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Notes to myself, possibly of interest to others.
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Friday, August 27, 2010

Behind the 1.6% GDP report

Strip out the energy components, and consumer spending did not improve at all from the last Q2 report we were issued a month ago. In other words, if not for the fact that more of the household budget was diverted to the energy bill in Q2, consumer spending would have shown a 1.6% growth rate and GDP would have actually come in BELOW consensus, at +1.3%.
---Rosenberg, 8/27

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