1/29/10 - GDP makes big gains
There's nothing misleading about the 5.7% GDP increase. Certainly none of the following play a part in the most recent overestimation:

1. Inventories were at an extreme low and the slowdown in the rate of decline is counted as growth
2. Import reduction was likely overestimated because of an overestimate in the drop in oil consumption
3. Personal consumption expenditure (i.e. a significant part of the growth) was basically a loan for the government - transfer payments to the federal budget of $500 billion

We'll look forward to the revisions.

GDP surges 5.7% on inventory slowdown - MarketWatch

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