macroeconomic Advisers believes the economy will expand at a 2.5 percent annual rate in the first quarter of 2013.
The growing share of income dedicated to rent, however, is a product of the times, with two macroeconomic factors at play here.
The pace of fourth quarter growth is nowhere near as torrid – about 2.3 percent according to macroeconomic Advisers.
Also, the biggest impact of the cuts seems likely to be macroeconomic.
Indeed, macroeconomic Advisers believes the economy grew at a 3.6 percent annual rate in the just-completed first quarter.
On macroeconomic policy, I think Alan was unfairly criticized.
It is growing at about a 2.4 percent annual rate this quarter, according to macroeconomic Advisers.
macroeconomic Advisers maintains a real-time model that estimates the performance of the economy in the current quarter.