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Gauging Global Growth in 2013


Weekly Economic Commentary
October 22, 2012 - The broadest measure of the health of the U.S. economy is Gross Domestic Product (GDP). This Friday, October 26, 2012, the Bureau of Economic Analysis of the U.S. Department of Commerce will release its initial estimate of GDP for the third quarter of 2012. The consensus is looking for a 1.8% annualized increase in GDP between the second and third quarters, a slight acceleration in growth from the 1.3% pace in the second quarter. We continue to maintain our below-consensus forecast for 2.0% GDP growth for all of 2012. The consensus estimate for GDP growth in 2012 is now 2.1%. (We last wrote about the overall health of the U.S. economy and GDP in late July 2012, just after the release of second quarter 2012 GDP figures.)

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