Business in The Beltway: Silver Linings In Employment Data
February 07, 2011
I've heard that Wagner's music is better than it sounds. In an earlier post, I claimed that the 3.2 percent growth in Real GDP understated the strength in the economy because inventory depletion (probably a sign of strength) took such a big chunk out of the number. Real Final Sales (Real GDP minus the inventory change) increased a whopping 7.1 percent. This strong number got little attention in the press.