Q3 GDP Revised Lower
The third quarter’s GDP was revised to 2.0% from a consensus estimate of 2.3% and versus a 2.5% preliminary report a month ago. The drop was on lower than expected business investment and consumer spending. The good news is that…
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The third quarter’s GDP was revised to 2.0% from a consensus estimate of 2.3% and versus a 2.5% preliminary report a month ago. The drop was on lower than expected business investment and consumer spending. The good news is that this is not yet representative of a recession. The bad news is that it still feels like a recession to many.
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Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.
