Gary's Blog

Thursday, October 1, 2009

Recovery for 4th Qtr. Estimate

Well, the Maui News would like you to think this is bad news. GDP growth for the 4th quarter is project to be around 2.5% in the U.S. Why is that bad news? I'll take 2.5% growth from here to forever, thank you very much. I'm sure Maui would rather see long-term sustainable growth, rather than the fits and starts we have seen over the past decade. These estimates, by the way, are according to analysts at IHS Global Insight, Moody's Economy.com and Wells Fargo.

In other positive economic news, the Standard and Poor's/Case-Shiller home price index of 20 major cities rose 1.2% from June to July. Though home prices are still 13.3% below July a year ago, the annual declines have slowed in all 20 cities for the sixth straight month.

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