Friday, September 26, 2008

Final GDP Print Down .5%, even with Puny 1.1% GDP Deflator

As the world is ending (Nasdaq futures down ~50), we get a .5% reduced final GDP print (2.8% from 3.3%) that is hugely inflated by a tiny 1.1% increase in the GDP Price Index (details of why this overstates GDP here).

The "inflated" charts: