Caveat City this morning with the release of 3rd Q GDP. The headline number was inline with expectations of 2%, but a cursory glance of the breakdown tells a tale of inventory build, imports and very weak final sales. It’s a not-so-great 2% under the hood, guys.
Some color from around the web:
All Systems Go for QE2 After Slightly Weak GDP Number (MarketBeat)
US Economy Grew at a 2% Rate in the 3rd Quarter (NYT)
Goldman on GDP. (Zero Hedge)
Why Inventory Effects Aren’t Always Bad. (Clusterstock)