Fourth Quarter GDP: It’s Just A Number
Okay, so the negative 0.1 percent real GDP number surprised me, even though I was expecting weakness. After arguing that recent GDP numbers were worse than the headline, primarily because of inventory accumulation, I’m happy to report the opposite this time around. Without inventory runoff, the number would have been up 1.1 percent, still [...]
Okay, so the negative 0.1 percent real GDP number surprised me, even though I was expecting weakness. After arguing that recent GDP numbers were worse than the headline, primarily because of inventory accumulation, I’m happy to report the opposite this time around. Without inventory runoff, the number would have been up 1.1 percent, still not good, but not negative.