USA TODAY: Economists have significantly raised their estimates of third-quarter economic growth ahead of the government’s official report Thursday, easing near-term fears of another recession
A consensus of economists surveyed by Bloomberg News estimates the economy grew at a still-modest 2.5% annual pace last quarter, up from their 1.8% projection less than two weeks ago. The brighter picture follows better-than-expected data on retail sales, manufacturing, jobs and business investment.
Many experts say the third-quarter upturn was due to temporary factors, particularly the end of supply disruptions after the Japanese earthquake, and the decline in oil prices. The Commerce Department said last week that retail sales jumped 1.1% in September, partly because of a 3.6% rise in auto sales as Japanese bottlenecks eased… (more)
EDITOR: Hotel and apartment complex operations over three states suggests a slight increase in business travel and a drop in rental activities, leaving him somewhat puzzled. The latter seems to be a combination of tenants “doubling up” by moving home or finding housemates, on the negative side, and purchasing homes, on the positive side. Almost one percent of any increase would be offset by growing population.
