 |
|
| Second-Quarter 2005 GDP Data ("Advance" Estimate) #1 - Jul. 29, 2005 |
|
Summary
Today's release of second-quarter GDP data from the Commerce Department indicated real growth during the period of 3.4%, a bit lower than a consensus estimate that was looking for 3.5%. There were a few items in today's report I found to be somewhat "suspect."
_____
Earlier today, the Commerce Department released its initial ("advance") estimate of second-quarter gross domestic product. According to Commerce, real GDP grew at an annual rate of 3.4% during the quarter, versus a 3.8% rate during this year's March quarter.
The report indicated a sharp, unrealistic decline in inflation, as well as a significant contribution to reported growth from a decline in the trade deficit.
Today's release contained so-called "benchmark" revisions to a fair amount of prior data, so it will take a while to put together the historical numbers I use that include the revised data. However, I expect to have this completed and out next week.
Also on the drawing board for publication soon is an article containing some views -- negative ones -- on CAFTA, as well as a new edition of "Last Week in the Markets..."
_____
|
|
|
|
|
|