U.S. Economy Rebound Not as Robust as First Thought

November 24th, 2009 categories: Lake Tahoe Real Estate

Associated PressIt’s not that anyone is over eager…, but… it’s still a rebound of a sort!

The Commerce Department’s new reading on gross domestic product wasn’t as energetic as the 3.5 percent growth rate for the July-September period estimated just a month ago.

The main factors behind the downgrade:

  • consumers didn’t spend as much,
  • commercial construction was weaker
  • the nation’s trade deficit was more of a drag on growth
  • businesses trimmed more of their stockpiles, another restraining factor

A few other bullet points from today’s Associated Press article:

  • The good news is that the economy finally started to grow again, after a record four straight losing quarters.
  • The bad new is that the rebound, now and in the months ahead, probably will be lethargic.
  • The worst recession since the 1930s is very likely over, but the economy’s return to good health will take time.

(full article here)

 

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