"Gross Domestic Product has been reported to be an unexpectedly high 3.5% in the third quarter (on an annual basis). However the growth was led by a “surprisingly” high increase in defense spending and a reduction in the trade deficit (which accounts for 2% of the 3.5%). The last time defense spending had a surprising increase was the third quarter of 2012 (also a quarter leading up to an election) there was a sharp fall off in defense spending the next quarter. The GDP deflator was 1.3% for the quarter on an annual basis."Phony. Phony. The trade deficit reduction was probably weapons sales to the Saudis.
France, the fifth biggest economy in the world, joins the PIIGS in debt crisis. We need a new acronym.
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