The Economy Just Grew Much Faster Than It Was Expected To

SWFL_F1sh0nSWFL_F1sh0n Posts: 17,248 Officer
WASHINGTON, July 30 (Reuters) - U.S. economic growth accelerated more than expected in the second quarter and the decline in output in the prior period was less steep than previously reported, which could bolster views for a stronger performance in the last six months of the year.

Gross domestic product expanded at a 4.0 percent annual rate as activity picked up broadly after shrinking at a revised 2.1 percent pace in the first quarter, the Commerce Department said on Wednesday.

That pushed GDP above the economy's potential growth trend, which analysts put somewhere between a 2 percent and 2.5 percent pace. Economists polled by Reuters had forecast the economy growing at a 3.0 percent rate in the second quarter after a previously reported 2.9 percent contraction.

Now we will hear from those on the right as to how this is not good news . . .


  • HomerSimpsonHomerSimpson Posts: 6,573 Admiral
    the first thread on this wasn't good enough?
  • SWFL_F1sh0nSWFL_F1sh0n Posts: 17,248 Officer
    the first thread on this wasn't good enough?

    Missed it . . or didn't you know . . it is a vast Left conspiracy to flood the forum with positive news . . or at least it used to be back when we were all getting paid.
  • JBondJBond Posts: 5,039 Officer
    I hope things start to get better, but as you know, the initial numbers released under Obama have been very flawed.

    By Jeffry Bartash

    WASHINGTON (MarketWatch) - The U.S. economy grew a touch slower from 2011 to 2013, according to newly revised government figures. The increase in gross domestic product in 2011 was lowered to 1.6% from 1.8% and it was trimmed to 2.3% from 2.8% for 2012. Growth in 2013 was raised a bit to 2.2% from 1.9% to partly offset those downward revisions. As a result of the changes, the economy expanded at a 2.0% rate from 2011 to 2013 instead of 2.2% as previously reported. The annual revisions also showed that the economy declined by 2.1% in the first quarter of 2014, down the prior estimate of a 2.9% drop. The government revises GDP every year to include new and more comprehensive information not available when the reports are originally published.
    When plunder becomes a way of life for a group of men living together in society, they create for themselves in the course of time a legal system that authorizes it and a moral code that glorifies it.

    - Frederic Bastiat
  • dstockwelldstockwell Posts: 13,799 AG
    No worry, number will be revised down.
    It is not the responsibility of the United States to solve the problems of other countries.
  • snooknomoresnooknomore Posts: 708 Officer
    they are trying to slow down the stock market, lets hope it does and we get a 10% correction.
  • Big BatteryBig Battery Posts: 19,435 AG
    They? Who is they?
  • NewberryJeffNewberryJeff Posts: 7,423 Admiral
  • HomerSimpsonHomerSimpson Posts: 6,573 Admiral
    positive is good. Or at least not entirely bad. But YTD we are down compared to this time last year. doesn't take as much growth to look good as an % change when the previous quarter was a tank.
  • SAENoleSAENole Posts: 10,558 AG
    You can tell that election season is right around the corner.
    Warning Level 2
  • White DogWhite Dog Posts: 5,343 Officer
    It will be revised downward......all have been.
    The news makes the up's grandiose and the down quiet.....even if it's Waaaayyy down.
    The White Dog.........R.I.P..........1996 - June 2nd, 2011
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