Posted on 06/29/2006 11:30:32 AM PDT by Smogger
WASHINGTON (AP) - The economy grew at its hottest pace in 2 1/2 years in the opening quarter of 2006 but signs suggest it has cooled since then.
The Commerce Department reported Thursday that economic activity expanded at a 5.6 percent annual rate in the January-to-March period. The revised reading on gross domestic product was an even stronger showing than the 5.3 percent pace estimated for the quarter a month ago.
The new estimate -- based on more complete information -- matched economists' forecasts.
The stronger GDP figure mostly reflected an improvement in the country's trade deficit, which was much less of a drag than previously estimated.
Gross domestic product measures the value of all goods and services produced within the United States and is considered the best barometer of the country's economic fitness.
Fresher barometers, however, suggest the economy is slowing.
(Excerpt) Read more at news.moneycentral.msn.com ...
Don't Americans understand the housing bubble also can explode any second now./s
In other words, I can say my sex life has taken a 25% drop. I had sex 100 times last week. This week I had sex only 75 times.
They said the same thing LAST month. "Oh sure it looks good now, but it's slowing down this time. Really. It is..."
French fries are hot right out of the oil, by MAY BE cooling.........
Economy Growth Boils, but Monkeys May Be Flying Out Of The Same Orifice We Extracted Our Warning.
Sounds like something Algore would say.
In other words, I can say my sex life has taken a 25% drop. I had sex 100 times last week. This week I had sex only 75 times.
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
How long have you been dead?
It's amazing...the Fed is raising rates they want to slow the economy (controlling inflation). But, the media never says the Fed is intenitionally slowing the economy.
Idiots.
"I had sex 100 times last week. This week I had sex only 75 times."
Slacker.
Pretty damn hilarious. The leftwingnuts at AP are still out there, proving their irrelevance.
Hold on, crawdad. With yourself doesn't count. ;-)
They're actually quite correct.
Remember that this is the final estimate of economic growth for the first quarter. It's almost July now. The economy was boiling and now is cooling. There's no chance of Q2 GDP growth coming anywhere close to 5.6%.
In the end, however, this is a good thing... as another quarter of near 6% growth would cause the Fed to take dramatic action. The 5.6% siply wasn't scary because it was largely an unwinding of the prior quarter's sub-par growth.
Up is Down (maybe).
Market's are up - I'm happy.
But...but...but the UNEMPLOYMENT RATE IS...uh...never mind.
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