Varney on New GDP Figures: Two Percent Won't Get You a Lot More Jobs, and Figure 'Will Likely Be Revised Downward After Election Day'
Earlier, the Commerce Department announced that the U.S. economy grew 2% in the third quarter, better than the 1.3% rise in the second quarter. The rate of growth so far for 2012 is 1.74%, lower than the 1.8% growth seen in 2011.
Stuart Varney, host of Varney & Co. on Fox Business Network, joined Bill Hemmer on America's Newsroom this morning to talk about what the numbers mean, especially to the presidential election.
"There is an improvement. But two percent growth, that's nothing to write home about, that's still a slow economy. It's still the worst recovery from a major recession. It still is not going to get you a lot more jobs. And that number, two percent growth, is very likely to be revised downward after the election," Varney explained.
Watch Varney's comments, including why he believes the numbers may be "juiced":