US Real GDP Growth - October 27, 2011
BCREA ECONOMICS NOW
US Real GDP Growth - October 27, 2011
A bit of relief this morning with both a potential resolution
to the Euro-crisis as well as news that the US economy grew 2.5 per cent in the
third quarter, thereby quieting some of the talk of a double-dip recession. US
real GDP growth was fairly broad based, with major contributions from consumer
spending (up 2.4 per cent), exports (up 4 per cent) and a big jump in business
investment. Even more impressive, the US managed to record decent growth while
consumer and business confidence was being battered by political and financial
market volatility.
Still, we will need to see both a sustained and higher rate of growth south of
the border before that economy, and ours, are securely out of the woods.
For now, today's news is a welcome change from the dire stream of data we have
unfortunately become accustom too, and may mean that the outlook for
economic growth in BC and Canada has become slightly brighter.
For more information, please contact:
Cameron Muir |
Brendon Ogmundson |
Chief Economist |
Economist |
Direct: 604.742.2780 |
Direct: 604.742.2796 |
Mobile: 778.229.1884 |
Mobile: 604.505.6793 |
Email: cmuir@bcrea.bc.ca |
Email: bogmundson@bcrea.bc.ca |
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