GDP growth picks up in second quarter – Jul. 31, 2008
by Tom on July 31, 2008
in Market Musings
The gross domestic product, the broad measure of the nation’s economic activity, grew at an annual rate of 1.9% in the three months ended in June. That’s up from a revised 0.9% growth rate in the first quarter.
Even with much stronger growth, the reading was weaker than expected, as economists surveyed by Briefing.com had forecast growth of 2.3%.
GDP growth picks up in second quarter – Jul. 31, 2008.
How much of the increase was due to the stimulus checks? My gut feeling is that a LOT of it was. We’ll have to see how the third and fourth quarters play out with that…..
Also…..
So, going in to tomorrow’s jobs report we have the ADP report that was better than expected and we have these two reports that are weaker than expected.
Going to be interesting….
Call or e-mail me if you want to talk about it.
Tom Vanderwell
