Market Review, December 2012

Publication Date: 

January 2013

Summary: 

U.S. third quarter real GDP grew at an annual rate of 3.1% according to the BEA’s third and final revision. The revision was a surprise, up from earlier estimates of 2.7% and 2%. The main drivers of third quarter growth were accelerating inventory buildup and government spending, which are likely not sustainable. The National Association for Business Economics released a prediction for 2013 GDP growth of 2.1%, based on the consensus view of the organization’s members in an annual year-end survey.