From Economic Policy Journal:
While much focus was put on the curious improvement in unemployment data in early October, which resulted in speculation that the BLS may have manipulated the data for the benefit of the President and his re-election campaign, perhaps more focus should have centered on an even more curious data point released on October 26, 2012, the Gross Domestic Product: Third Quarter 2012 (advance estimate).
The release read:
Real gross domestic product – the output of goods and services produced by labor and property located in the United States – increased at an annual rate of 2.0 percent in the third quarter of 2012 (that is, from the second quarter to the third quarter), according to the “advance” estimate released by the Bureau of Economic Analysis.
This was a big swing upward from Q2. In the second quarter, real GDP increased 1.3 percent. Thus the 2.0 number implied that the economy was on an upswing.
Where did the improvement come from? The report went on to inform:
The acceleration in real GDP in the third quarter primarily reflected…