The Corner

Gdp

The third quarter GDP growth numbers are in: 3.7 percent. This is below the consensus forecast of 4.3 percent, but up from the prior quarter which was 3.3 percent. Stock futures were inititally down on the news, but rose (according to Blooomberg) on the opinion that the pace of consumer spending was higher than expected for the third quarter. Consider this the last piece of big economic news before the election.