Friday, August 29, 2008

The Economy Is Not Tanking - Stupid

More news that the economy is doing better than anticipated.

The timing could not be better for McCain. It should seriously blunt what Obama is going to say tonight!!!

I am betting that team McCain is getting the word out to every news org covering tonight's event.

From the WSJ:

Economy Grew 3.3% in 2nd Quarter, Much Higher Than Initial Reading

Gross domestic product rose at a seasonally adjusted 3.3% annual rate April through June, the Commerce Department said Thursday in a new, revised estimate of second-quarter GDP.

Originally, the government had estimated second-quarter 2008 GDP climbed 1.9%. First-quarter GDP increased 0.9%.

Net exports in the second quarter were stronger than first believed, Thursday's data showed -- another reason for the large upward revision to GDP. Exports rose 13.2% instead of 9.2% as reported originally. Imports fell 7.6% instead of 6.6% as first reported. So, trade contributed 3.10 percentage points to second-quarter GDP. Originally, trade was seen adding 2.42 percentage points. Surging exports have served as a lifeline to the soft U.S. economy

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