Economic Statistics for 22 Nov 11
Today’s economic statistical releases:
3rd Quarter GDP took a downward bump on the Commerce Department’s first revision from 2.5% to 2%. Analysts had expected a revision to 2.4%, so today’s revision was well below that.
The Richmond Fed Index ended 4 months of contraction, coming in at 0, indicating no growth or contraction.
Corporate after-tax profits in the 3rd quarter rose 6.5%.
In weekly retail sales, ICSC-Goldman Store Sales were down -0.9% for the week, and only up 2.8% year-over year. Meanwhile, Redbook reports strong 3.7% sales growth over last year.