Gross domestic product rose at an annual rate of 3.3 percent ... beyond the government's initial estimate of 1.9 percent as well as economists' forecast of 2.7 percent .... [this growth] marked the economy's best performance since the third quarter of last year, when GDP rose at a 4.8 percent pace.Economists who have been sermonizing doom and gloom about the state of the economy were quick to dismiss these results as a fluke or a "head fake," suggesting that the economy was still sluggish and would continue to be so for quite some time.
"This is just sort of data that trickles out that can be very positive one day and negative the next," one was quoted as saying. "We don't yet think it signals a trend." - but given the (false) claims of recession we've been hearing all year, one wonders exactly what data, if anything, the weathermen of our economy have been considering - if any at all.
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