Friday News Dump
Oct 27th, 2006 at 8:47 pm by Susie
Look what they released 5 p.m. today:
WASHINGTON - The economy has slowed to a snail’s pace, growing in the just-finished quarter at the slowest rate in more than three years and stirring fresh debate about the country’s financial health heading into the elections.
The Commerce Department reported Friday that economic growth during the July-to-September period clocked in at an annual rate of just 1.6 percent — a subpar performance that mostly reflected the deepening housing slump. Investment in homebuilding was cut by the largest amount in 15 years.
That “packed a wicked punch for the U.S. economy … but it was not a knockout blow,” said Stuart Hoffman, chief economist at PNC Financial Services Group.
The fresh reading on the economy, which fell short of the 2.1 percent pace analysts were forecasting, disappointed economists, rattled investors and gave Republicans and Democrats plenty to argue about.
Economic matters are expected to influence voters’ choices when they go to the polls Nov. 7.
[Via Corrente.]
Housing weakness bashes down GDP
A slumping housing sector helped slow economic growth in the third quarter to its weakest pace in mo
So is this friday news release eligible for
in-depth treatment in the Sunday paper?
Eligible? Yes!! Likely? No!
Then it will be “Historical”