The Second Estimate of 2010 Quarter 3 U.S. GDP

The BEA’s second estimate of United States third quarter economic growth was released this morning. The revision from the first estimate of 2.0 percent growth was an increase of half a percent to 2.5 percent growth. The revisions were primarily the result of upward revisions to personal consumption expenditures, exports, and state/local government spending. . . . → Read More: The Second Estimate of 2010 Quarter 3 U.S. GDP

Correct, for the Wrong Reasons

Daryl G. Jones has a piece in Fortune titled Why the housing bulls are wrong.  He’s correct about the housing bulls being wrong, but his reasons aren’t all that convincing to me.  Here’s the reason housing won’t see a robust recovery for a couple of years:



The home ownership rate (percentage of people who . . . → Read More: Correct, for the Wrong Reasons

Registration Information for Central Oregon Forecast

The Central Oregon Economic Forecast will be held January 18, 2012. Last year’s event drew 275 attendees. Click here for more information.

 

States GDP

The 2009 state-by-state real GDP growth rate estimates were released by the BEA this morning. Given that 2009 was a pivotal year in the Great Recession, we saw lots of variability. There were 38 state economies that experienced contractions, most led by the construction and durables goods manufacturing sectors.

The average across all 50 . . . → Read More: States GDP

Deflation, Equilibria, and QE2

The BLS provided the October Consumer Price Index release today.  The October core CPI year-on-year growth was 0.6 percent.  This is the lowest growth of this measure since 1957.  This rate of growth is low enough that the Fed is concerned that price growth is too low.  In an economy characterized by weak demand, . . . → Read More: Deflation, Equilibria, and QE2