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ymarkovECONOMIC REPORT
U.S. GDP revised up to 4.9% for third quarter
Corporate profits fall even excluding subprime write-downs
4.9% is a fantastic growth rate for a mature economy. However, since corporate profits are one of the best predictors of economic future, expect at least a serious slowdown, if not a recession. (Even if there is one next quarter, this will still be the second-longest - if not the longest - expansion in recorded US history.)
U.S. GDP revised up to 4.9% for third quarter
Corporate profits fall even excluding subprime write-downs
4.9% is a fantastic growth rate for a mature economy. However, since corporate profits are one of the best predictors of economic future, expect at least a serious slowdown, if not a recession. (Even if there is one next quarter, this will still be the second-longest - if not the longest - expansion in recorded US history.)
