Friday, October 27, 2006

GDP +1.6% lower than expected

The economic growth rate in the US is the lowest in three years and was lower than expected by Wall Street economists. The median estimate of 25 economists was a 2.2% increase according to a survey by Dow Jones and CNBC. MSFT reported an 11% increase in profit but the revenue forecast was lower than expected. This may put pressure today on stocks and the index futures are down indicating a lower opening. We are also waiting for the Michigan index to come out after New York open.

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