The Economy Just Grew Much Faster Than It Was Expected To
SWFL_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.
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Now we will hear from those on the right as to how this is not good news . . .
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
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.
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
- Frederic Bastiat
http://www.marketplace.org/topics/economy/us-economy-grow-3-under-new-gdp-calculation
The news makes the up's grandiose and the down quiet.....even if it's Waaaayyy down.