If you include the PCE Price Index, GDP was really up 1.2% according to the Commerce Department. For all of 2011 that was 1.7%.
While this is being called a disappointment, this was the final revision and it should be fully reflected into the markets by now as the data is nearly 90-days old and covers the period from 90 to 180 days ago.
It is impossible to call this impressive growth. Still, it is above the red-line and that keeps the recession mongers at bay for another couple of quarters at a minimum.
JON C. OGG
Contact [email protected] for any questions or corrections.
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