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The Economy Just Grew Much Faster Than It Was Expected To

SWFL_F1sh0nSWFL_F1sh0n Posts: 17,248 Officer
in Politics #1
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.
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Now we will hear from those on the right as to how this is not good news . . .
[SIGPIC][/SIGPIC]

Replies

  • HomerSimpsonHomerSimpson Posts: 6,573 Admiral
    #2
    the first thread on this wasn't good enough?
  • SWFL_F1sh0nSWFL_F1sh0n Posts: 17,248 Officer
    #3
    HomerSimpson wrote: »
    the first thread on this wasn't good enough?
    :rolleyes


    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.
    [SIGPIC][/SIGPIC]
  • JBondJBond Posts: 5,039 Officer
    #4
    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.

    http://www.marketwatch.com/story/us-economic-growth-from-2011-2013-trimmed-to-2-2014-07-30
    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: 13,781 AG
    #5
    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
    #6
    they are trying to slow down the stock market, lets hope it does and we get a 10% correction.
  • Big BatteryBig Battery Posts: 19,258 AG
    #7
    They? Who is they?
  • NewberryJeffNewberryJeff Posts: 7,270 Admiral
    #8
    U.S. economy to 'grow' 3% under new GDP calculation
    http://www.marketplace.org/topics/economy/us-economy-grow-3-under-new-gdp-calculation
  • HomerSimpsonHomerSimpson Posts: 6,573 Admiral
    #9
    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: 10,319 AG
    #10
    You can tell that election season is right around the corner.
    Warning Level 2
  • White DogWhite Dog Posts: 5,343 Officer
    #11
    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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