Friday, December 10, 2010
October exports are old news, but it's nice to see that they rose 3.2% for the month, much more than expected. Exports had slowed down over the summer, and that was potentially worrisome; now we know that it was just temporary. Over the past three months exports are up at a 15.6% annualized rate, and they are up 15% over the past twelve months. Double-digit export growth has resulted in an almost-complete recovery from pre-recession levels. At these growth rates, exports will likely make new highs by the end of this year, and will contribute significantly to Q4 GDP growth.
Posted by Scott Grannis at 1:12 PM