Q3 GDP: Indian Summer now, but a darkening sky on the horizon

Real GDP for Q3 was reported this morning, and as I am sure you already know, it was the best in four quarters: This is, as I have said frequently over the last few months, Indian Summer.  The economy accelerated to a very decent, if not spectacular, rate of growth.  That’s the good news. The bad news is in those metrics that help tell us where the economy will be a year or more from now:  business profitability and housing investment. Real private residential investment is so important that Prof. Edward Leamer of UCLA considers it the single best long…

Source: XE news feed
Q3 GDP: Indian Summer now, but a darkening sky on the horizon