Yesterday we received some good economic news just in time for holidays when the Commerce Department revised it's calculation of US GDP growth for the third quarter of this year to an increase of 5%. This is the best quarter the US economy has seen in a decade:
Now, I'm skeptical of most broad economic statistics, because it's a bit ridiculous to think that we can measure something so complex as the level of growth in the US economy with one number. In fact, my reading list includes this book, GDP: A Brief but Affectionate History, so I'll have more to say on this topic when I finish the book.
However, we're always happy to receive good news. Seeing strong economic growth, low oil prices, and better job growth, should help us all sleep a bit better this last week of 2014. Of course, that doesn't mean that everything will be rosy going forward. 2015 will certainly present us with a host of economic challenges. But for now, let's all enjoy some time with family and friends as we celebrate this joyous time. Erica and I would like to wish all of you a warm and wonderful holiday season! ~FSB