(This post has been corrected).
Before the election, here, David "Rosie" Rosenberg actually predicted a negative GDP print in Q4 due to Hurricane Sandy. That GDP actually came in at a only slightly negative 0.1% is beside the point. In Q3 2012 the annualized rate of growth was reported as +3.1%. That means that during Q4 the annualized rate of growth hit a brick wall to decline by over 100%. If all it takes is a category 1 hurricane to send the greatest economy in the world negative, we are in sorry shape indeed.
Before the election, here, David "Rosie" Rosenberg actually predicted a negative GDP print in Q4 due to Hurricane Sandy. That GDP actually came in at a only slightly negative 0.1% is beside the point. In Q3 2012 the annualized rate of growth was reported as +3.1%. That means that during Q4 the annualized rate of growth hit a brick wall to decline by over 100%. If all it takes is a category 1 hurricane to send the greatest economy in the world negative, we are in sorry shape indeed.
Busted GDP. Busted Inaugural JumboTron. Busted Presidency. Busted Country.
