More Bad Macro Outcomes
Slow economic growth continues to put upward pressure on unemployment:
Non-residential investment grew at a 16.3 percent annual rate in the third quarter, accounting for 1.54 percentage points of the 2.5 percent GDP growth in the quarter. Consumption growth was weak at 2.4 percent, but considerably better than the 0.7 percent rate reported for second quarter...
Note the strength of nonresidential investment--exactly what we would not see if business "uncertainty" about regulatory policy were holding back the recovery.
