4th Quarter GDP Numbers Revised Down

 The economy's growth is not picking up at the pace the White House would like you to believe. Rather than growing at a tepid but respectable 3.2% the new numbers are painting a different picture. These figures come from the last quarter of last year which has the busy Christmas shopping season to boost it. They show just how fragile the economy is.

And it is likely to become more fragile as the forces of the gas prices get involved. But as for now the growth rate is estimated at 2.8%.

It didn't help the markets:

"A bit disappointing, but largely old news at this point that will take a back seat to fears about growth beyond the first quarter in the wake of both oil price hikes and a budget impasse that could cut into government spending," said Avery Shenfeld, an economist at CIBC World Markets in Toronto.
U.S. government debt prices pared losses on the data, while the dollar extended losses against the yen.

We need to do something-- maybe high speed rail! /sarc


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