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Small bump expected in economic growth in Q3
Posted: 11.23.2010 at 6:36 AM
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(AP) -- WASHINGTON (AP) - A slight upward revision of third quarter economic performance expected Tuesday isn't likely to be enough to bring relief to millions of unemployed Americans.
Analysts predict the Commerce Department's second estimate for third-quarter growth will show a 2.3 percent expansion rate, compared to an initial 2 percent estimate.
Stronger U.S. exports and greater spending by businesses to replenish their stockpiles are the reasons analysts expect an upward revision.
Also Tuesday, the Fed is scheduled to release minutes of its closed-door deliberations on Nov. 3 and updated economic projections. Those minutes could reveal greater tension over policymakers' decision to buy $600 billion worth of government bonds to boost the economy.
No one - including Fed Chairman Ben Bernanke - thinks the program will make a big dent in the unemployment rate.
(Copyright 2010 by The Associated Press. All Rights Reserved.)
(Copyright ©2010 by The Associated Press. All Rights Reserved.)