12/20/2012 10:22 AM – Higher Estimate for Q3 US Growth

Today we got the 3rd estimate from the Commerce Dept. on how fast the US economy grew last quarter. The last estimate was 2.7%. This estimate was 3.1%. That’s a pretty decent number and is much better than any country in Europe and much higher than Japan.

Excluding the effects of the rise and fall of business inventories, the estimate was 2.4%. That’s the number I prefer to look at and again, in this world economy that’s a pretty solid number.

The US stock and bond markets are up slightly to start the day. Gold is down 1.5%, oil and natgas are up.