U.S. Economy Grew at 2.7% Rate, More Than First Estimated – Bloomberg 11-29-12

Salient to Investors:

Chris Rupkey at Bank of Tokyo-Mitsubishi UFJ said the economy is growing moderately, and the disappointing pace of consumer spending is less worrisome as other sectors of the economy are doing better, like housing.

The median economist expects consumer spending to be at a 1.9 percent pace in Q3, and GDP to have grown at a 2.8 percent rate.

Two-thirds of global investors say the global economy is either stable or improving, the most since May 2011.

Jan Hatzius at Goldman Sachs said Sandy may trim as much as 0.5 percent from Q4 GDP, but reconstruction may add as much as 0.75 percent in Q1 2013.

Read the full article at http://www.bloomberg.com/news/2012-11-29/economy-in-u-s-grew-at-2-7-rate-more-than-first-estimated.html