U.S. Growth Rate Revised Downward
As expected … and as cautioned here:
The Commerce Department has revised downward its estimate of the U.S. growth rate from the third quarter of 2009, see this report.
Citing weaker consumer spending than originally estimated (discussed in an earlier post here) the annualized growth rate is now 2.8%, down from 3.5%, far too weak to make any progress on the employment front.
Paul Handover
