Wednesday, February 29, 2012

GDP: Still Looking Good

The Lehmann Letter (SM)

This morning’s revision of the GDP (total output) numbers is more welcome news. The Commerce Department now estimates that GDP grew by 3.0% in 2011’s last quarter, a slight upward revision from its earlier estimate of 2.8%:

As this letter reported last month when the initial figure was released:

That's the best performance of any 2011 quarter, a year in which GDP growth accelerated.

The Commerce Department will publish another revision of the data on March 29. That announcement will contain the first release of corporate-earnings data for 2011’s fourth quarter. This figure should interest stock-market investors.

(To be fully informed visit

© 2012 Michael B. Lehmann

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