Posted originally on The Conservative tree House on October 29, 2020 by sundance
National Economic Council Director, Larry Kudlow, discusses the third-quarter economic GDP result and the indicators for the fourth quarter. Kudlow nails this one with a blend of empirical economic data and industrial manufacturing ground reports.
Keep in mind today’s excellent GDP growth result was despite a big part of the U.S. economy intentionally being kept closed by blue state politicians as part of a COVID weaponization strategy. Additionally, the travel, hotel and hospitality sector is severely hampered…. yet the overall economy is booming despite that. [See previous post]
The inventory factor is a big part of the predictive value for the fourth quarter, and hearkens back to my earlier notation about this holiday season being short of products to meet a retail consumer demand (buy early). Also, tip bigly those workers within the hospitality industry that are working; create an organic infusion of relief money.