Economy weakest in three years

[applegrove]

Economy weakest in three years
GDP grew at a 1.6 percent rate in third quarter, down from 2.6 percent in the second; inflation gauge retreats.
By Chris Isidore, CNNMoney.com senior writer
October 27 2006: 12:33 PM EDT


NEW YORK (CNNMoney.com) -- Economic growth slowed to the weakest pace in more than three years in the third quarter, as the government's main gauge of the strength of the U.S. economy came in much lower than analysts had forecast.

Gross domestic product (GDP), the broadest measure of the nation's economy, grew at a 1.6 percent annual rate in the quarter, the Commerce Department said, down from the 2.6 percent rate in the second quarter.

While the slower than expected economic growth isn't a positive, some economists argued the economy appears poised to bounce back in the current quarter, helped by lower energy prices.

Moreover, the slower growth, and a price reading in the report that showed less inflation pressures than expected, raised hopes that the Federal Reserve could start to cut interest rates early next year, as the central bank tries to find the balance between economic growth and price stability.

.....SNIP"

http://money.cnn.com/2006/10/27/news/economy/gdp/index.htm?cnn=yes

[applegrove]

1. No wonder they wanted to repeal the death tax. They've been dumping

money into the markets and such for years. Not to mention spending on war. You can only put lipstick on a pig a few times before people see it as a bovine.

[Ezlivin]

2. I read this on my web browser in my Hummer while driving

The economy is doing just fine for those of us that make over $250K a year. I've got a couple of vacation homes and a couple more that I visit from time-to-time. Not a one of them is less than 5,000 square feet. And I've got several Hummers, a handful of Escalades (love those different colors) and dozens of servants (mostly illegals working for a song). My stocks are way up and the profits keep multiplying. My money increases every time we offshore another part of our company and get rid of those damned American workers and their demands for a so-called "living" wage, health benefits, a safe working environment, a 40 hour (hah!) work week and paid vacations.

[applegrove]

3. Used to be that everyone fought inflation together. Those were the days..

about 7 years ago.

[Skink]

4. The Republicans get credit for this right?

They'e been concerned lately that they aren't getting credit where credit is due.