AmiSight 11/3: Did the GDP Grow by 2.6% in Q3

Last week, the government announced that the GDP rose by 2.6% in Q3. Seem suspicious? My friend @gregcrabtree tweeted, “I question the accuracy of the GDP Q3 number of 2.6%. It is very hard to measure output in a service-based economy. With continued rising wages and price increases to cover these costs, I think their GDP growth number is overstated. My estimate is flat.”