Economic Insights – October 2013

The economy appears to be moving into the fourth quarter at the same slow pace we've seen since 2010.  Unfortunately, the positives of the expanding North American Energy Revolution and the other elements of the broader Digital Revolution are being offset by government policy. 

Second-quarter real economic growth was a moderate 2.5 percent.  Nominal GDP, which is real GDP growth plus inflation, grew at a 3.1 percent annual rate in the second quarter, and was up 3.1 percent from a year earlier. 

In the past two years, nominal GDP.....