From a small northwestern observatory…

Neat article in CNN Money this morning titled “Economists a Bit More Optimistic”.  To read in its entirety, click here.

In short, economists are a bit surprised — pleasantly so, I might add — at economic results thus-far in the 4th quarter.  CNN’s survey of 20 economic forecasters finds a consensus sentiment of GDP growth at 3.3% this quarter, substantially higher than where it’s been thus-far in the past several quarters, and with perhaps some momentum to carry forward into 2012.

Now, 3.3% isn’t quite as good as we’d like to see — 4% would be even better.  However, as I’ve been noting for some months, GDP growth in the 2% – 3% range would barely be enough to keep us at status-quo, much less get job growth to the levels needed to cure unemployment problems.  Hence, if this survey and forecast are correct, it is indeed very good news for the holidays.