GDP Shows Sluggish Economy; Inventory Build-up Continues; Small Business Retreats

The headline real GDP for Q4-2013 of +3.2% was much better than the detailed report. Like much of the economic data in recent months, it shows a continuing erosion in economic conditions. Inventories are the essential number to watch; they played a big role in the +4.1% GDP report for Q3-2013, more than doubling from...

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