Channeling Stocks

[sludgehound]

comments: tug of war for Year

CBS MARKETWATCH COMMENTARY Dr. Irwin Kellner
HEMPSTEAD, N.Y. (CBS.MW) -- Is the economy slowing down or speeding up? It's a close call.

Before trying to figure out where we're going, you have to agree on where we've been. And when it comes to the second quarter's gross domestic product, opinions are divided.

Some economists feel that economic growth picked up a tad during the second quarter. The CBS MarketWatch consensus thinks the GDP rose at an annual rate of 4.2 percent compared with 3.9 percent in the first. See Economic Forecasts.

I don't share this view. In my opinion, growth decelerated slightly in the second quarter, to an annual rate of 3.8 percent. Of course, we'll find out at the end of this month, when the Commerce Department releases its first look at the second quarter's GDP. <more>
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