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U.S. Growth Decline Unexpected?

Ok, i don't follow the economy and all it's ups and downs and ridiculous predictions or anything so far be it for me to pretend to know anything about it. All i'm saying is "Really? Unexpected?".

Growth in the US economy unexpectedly plummeted in the third quarter to the slowest rate for over three years, driven by a weakening housing market, official data showed today.

The Commerce Department said the economy expanded at an annualised rate of only 1.6% during the third quarter, down from 2.6% three months before. This was the weakest rate since the first quarter of 2003, when growth was 1.2%.

Wall Street economists had forecast growth of 2.2%, however a sharp tumble in housing activity contributed to a marked slowdown.

I mean, the housing market contributed to the slowdown and everyone's known for months that the housing market was on the decline. And you could see it coming for years before this. So, why exactly was it such a big surprise?

By min | October 27, 2006, 2:28 PM | Liberal Outrage


'Cause the Dow Jones is doing great!

i tell you these people take random data and warp it to their needs and than act surprised when things aren't what they expected. that being said some more interest rate hikes would be nice.