Nariman Behravesh Says Recovery on "Reasonably Solid Footing," Sees 4% GDP in Q4

The recovery is on "reasonably solid footing," says Nariman Behravesh, chief economist at IHS Global Insight, who says Tuesday's downward revision to third-quarter GDP to 2.2% -- from 2.8% previously and 3.5% originally - contained some positives. These include strong corporate profits and a 2.8% rise in what the government calls real personal consumption expenditures, i.e. consumer spending.

Full report (or forecast?) here

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