The government doesn’t release its initial estimate on third quarter real GDP for another nine days, but at this point we have enough facts and figures to make an educated guess that it’ll come in at right around a 1.8% annual rate, maybe a little higher, maybe a little lower.

Given that the economy grew at a tepid 2.0% annual rate in Q2, we’re sure you’ll hear plenty of angst about slow growth. But we don’t believe these past quarters represent a permanent shift to slower growth….