U.S. GDP revised up to 1.6%

[swag]

http://www.marketwatch.com/News/Story/Story.aspx?guid=%7B8D8E2A51%2DE687%2D4A07%2DA713%2D9E7CF2BF142D%7D&siteid=mktw&dist=bnb

WASHINGTON (MarketWatch) - The U.S. economy grew at a 1.6% annual pace in the fourth quarter, a bit faster than previously thought, while core inflation was a touch lower, the Commerce Department said Tuesday.

In its second estimate of real seasonally adjusted gross domestic product, the government said inventory rebuilding accounted for all of the growth in the economy during the quarter. Final sales were flat, the weakest since the first quarter of 2002.

A month ago, the government had said GDP increased at a 1.1% annual pace, with final sales falling 0.3%.

The slowdown from 4.1% in the third quarter was largely due to weak auto sales, slower business investment, a rise in imports and a drop in federal spending.

. . . more

[swag]

1. I can never resist posting a GDP or CPI thread. It's too much fun

to see all of the very interesting replies.

[RawMaterials]

2. you should put it in the stock market watch thread

n/m

[swag]

3. Be my guest.

[area51]

4. "U.S. GDP revised up to 1.6%"

If this is a good figure, where are all the jobs? Yeah, I know, India, China, etc. :mad:

[Ben Ceremos]

5. According to Dutch financial analysis,

without housingstarts the US economy has just now recovered from negative 'growth' that marked the last 3 years. This is adjusted without construction of new homes, a factor that supposedly buoys the economy and accounted for the supposed big growth. Many of my stock and financial colleagues are claiming that the US is purposely releasing false figures to maintain the public perception of growth. Considering a real loss of 7 million jobs (since 2001) and no actual categorical manufacturing growth at all, the massive deficit and the seemingly endless blackhole of the Iraq fiasco, and the fact that Americans have the lowest savings rates since the crash of 1929 and are "maxed out" on credit and equity, the best judgment here is to avoid all and anything American. This from a group who have been holding out for the success of Bush's economic policies. When these rats (sorry jongens) flee the sinking US economy and label it an investment risk, chances are good that we should take their advice.
I remind anyone who thinks gov't figures are legitimate to consider that the strategy for controlling foreign credit and foreign investment in the US is to no longer issue M3 money supply figures. If you think this wise, then I have a bridge for you to buy.