John McDevitt on the Economy
December 5, 2005—John McDevitt, former 3M Corporate Economist discusses the 4.3% GDP growth in the third quarter and his expectations for fourth quarter and year-end GDP growth and the affects the Gulf hurricanes had on GDP. McDevitt also evaluates last week’s unemployment and jobs creation report and also discusses his views on poll data reflecting consumer’s somewhat downbeat view of the current economy. Also discussed, the housing market, his housing forecast for the fourth quarter and next year as well as his thoughts on consumer confidence numbers, retail spending and the manufacturing sector.