September 2012 Market Commentary

The Economy: More of the Same

The U.S.

The U.S. economy continues along the path of too-slow growth. In September, we learned that Q2 GDP growth in the U.S. was revised downward to 1.3% from a previous estimate of 1.7%. While 1.7% growth was fairly abysmal to start with, the revision to 1.3% indicates a significant stalling of economic activity here at home. Though several one-time events (like the drought in the Midwest this summer) dragged down the data, Wall Street and Main Street alike cannot help but recognize that economic conditions are stagnant.  

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