Revision Lower Doesn T News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Growth for the third quarter is revised lower today. we get three readings on this. this is the first revision. gdp is growing at 2 percent. that s down from 2 1/2%. that was the first reading. the commerce department blames lower than expected restocking of store shelves as one of the reasons for the lack of activity or lower activity. higher unemployment, salaries not growing fast enough. tell me about it, right? it may also be a drag on the economy. the failure of the supercommittee is also not likely to help the economic outlook. when we started on the air today, jon, we weren t down this low. it moved lower as we were on the air, down nearly 100 points on the dow. jon: that s the number washington was bragging about, almost bragging about when they came out with it. jenna: which part, the gdp number. right. you want higher economic growth but the revision lower doesn t speak well for what s happening with the economy. steve more is a senior economics writer for the wall street jo ....

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