U.S. GDP view cut to 1.7% after durables data

[WallyWeaver]

This won't be good news for the Bamster if it turns out to be true (we'll know for sure tomorrow). Just another sign that an already anemic economy is slowing down even further.

WW.

Oct. 25, 2012, 10:41 a.m. EDT

U.S. GDP view cut to 1.7% after durables data

By Steve Goldstein WASHINGTON (MarketWatch) -- Ahead of Friday's release of gross domestic product data for the third quarter, a MarketWatch-compiled consensus of economist forecasts has dropped to 1.7% from 1.8%. J.P. Morgan, Morgan Stanley and Wells Fargo are among those who have cut their estimates. "It was in the core (nondefense, ex-aircraft) capital goods figures where the [durable-goods-orders] numbers fell short. Core capital goods orders were flat last month and core capital goods shipments were down 0.3%. These figures may not look so bad until you consider two factors; first, both numbers had been weak over the prior few months and some rebound was expected, and second, both numbers tend to be strong in the third month of the quarter. Topping it all off, both numbers were revised down a decent amount in August," said Michael Feroli of J.P. Morgan.

Link: http://www.marketwat...=MW_latest_news

[chara55]

And there you have Obamanomics!

God Bless

Goooooooo Rvvvvvvvvvvvv

[WallyWeaver]

And there you have Obamanomics!

God Bless

Goooooooo Rvvvvvvvvvvvv

Exactly right, chara55.

Thanks for the comment.

WW.