The Justa and Lars Honors Bob Brinker Investment Club Thread Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Pastimes : The Justa and Lars Honors Bob Brinker Investment Club Thread

VTI 332.16

+1.1%

Nov 25 4:00 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Wally Mastroly who wrote (1606)	11/30/2001 8:46:43 AM
From: Wally Mastroly	Read Replies (1) of 10065

GDP Contraction Sharper Than Thought WASHINGTON (Reuters) - The U.S. economy shrank at a faster rate than first thought during the third quarter, contracting at the steepest pace in more than a decade as corporate profits tumbled for a fourth straight quarter, the Commerce Department reported on Friday. Gross domestic product (GDP), or total economic activity, decreased at a revised 1.1 percent rate -- nearly triple the 0.4 percent rate reported a month ago and worse than the 0.9 percent rate of contraction Wall street economists had forecast. It was the poorest quarterly GDP performance since economic output shrank 2 percent in the first quarter of 1991 amid the last recession. - Some detail: quote.bloomberg.com At the beginning of this week, the agency that officially dates U.S. business cycles confirmed the United States entered a recession in March. That is not yet reflected in GDP statistics that generally require two straight quarters of shrinking output to meet a commonly accepted definition of recession but private-sector analysts have no doubt that the economy will shrink again in the current fourth quarter. There were a few promising signs in the GDP report, including the fact that inventories were drawn down at a $60.1-billion rate during the third quarter, the sharpest for any quarter on record. That implies companies made significant progress in bleeding off bloated stocks of unsold goods. An overhang of such goods would hold up production gains once recession ends.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next