How expectations change. When AP conducted a survey among economists about GDP growth in 2012, the consensus was about 2.4%. In the go-go 1990s, that would have brought down world stock exchanges to their knees. Now, hey we're thrilled.
POLITICO, of course, is reporting on this number because it has everything to do with who will be sitting in the White House in 2013. Should the upward trajectory continue, the incumbent will keep his job. Unlike their usual disciplined pragmatic selves, the GOP is at each other's throats rather than collectively decimating the president.