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To: Earlie who wrote (206985)	11/27/2002 9:09:58 AM
From: Haim R. Branisteanu	Read Replies (1) \| Respond to of 436258

It is very sad that again CNBS is trumpeting recovery and BUY stocks the state of the economy is very poor. The pool of unemploeyd is up 91,000 even with new claims down. Further spending is up income down - piling on debt - bankruptcies will follow and we will not recover. The translation of this is that once you receive the pink slip the chances are slim to get a new job. As to the GDP I like the trickery of annualizing - small changes just give bigger numbers as they are multiplied by 4 as they say the fine print what matters and it looks mot at all rosy Real gross domestic product grew at an annual rate of 4.0% in the third quarter, following revisions to the advance estimate of a 3.1% annualized increase. Upward revisions to residential investment expenditures (+2.1% vs. -0.8%), government outlays (+3.1% vs. +1.8%), a smaller trade deficit (-487.55 vs. -491.2), and an accumulation of inventories (15.5 vs. 1.9) led to a significant upward revision of real GDP during the third quarter. The upward revisions more than offset the downward revisions of consumer spending (4.1% vs. 4.2%) and nonresidential investment expenditures (-0.7% vs. +0.6%). The price deflators – GDP and personal consumption expenditure show marginal downward revisions. The upward revision of real GDP should raise third quarter productivity from the current estimate of 4.0%.