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Thursday, October 30, 2003

7.2%

GDP growth in the 3rd quarter was, as expected, quite high. I'm still reading the release and maybe I'll have more later. I'm sure the White House will be talking this up today.

MORE: Interesting line from BEA release: "Current-dollar personal income increased $91.0 billion (4.0 percent)... Personal tax and nontax payments
decreased $100.0 billion (32.1 percent)." The lag in tax payment has a lot to do with this, but so do the tax cuts.