Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Great news: Q4 GDP rises to +0.1%
hotair.com ^ | February 28, 2013 | Ed Morrissey

Posted on 02/28/2013 6:59:50 AM PST by John W

It beats contraction, which was the result of the initial estimate a month ago, but not by much. The Commerce Department’s estimate of fourth-quarter economic growth improved to 0.1%, a rise of only two-tenths of a point, in the routine second iteration.

Bear in mind that Q4 was the Christmas season, and one would expect consumer spending to perk up. This is still an indicator that the economy remains moribund, and one would expect that the final estimate won’t change much from here. The only bright spots — real final sales and consumer spending — are still in the 10-watt range.

(Excerpt) Read more at hotair.com ...


TOPICS: Business/Economy; News/Current Events
KEYWORDS:

1 posted on 02/28/2013 6:59:58 AM PST by John W
[ Post Reply | Private Reply | View Replies]

Comment #2 Removed by Moderator

To: John W
Does a single American actually believe this crap?

I don't believe any GDP figures about this economy, since most are lies to create a positive outlook for this administration while sticking a knife in the back of the private sector.

Next week it will something different, who cares!

3 posted on 02/28/2013 7:06:16 AM PST by paratrooper82 (82nd ABN Div. 1/508th BN "Fury From the Sky")
[ Post Reply | Private Reply | To 1 | View Replies]

To: John W
"Great" news... one tenth of one percent...

My, how the mighty have fallen. (And the Left LOVES it)

4 posted on 02/28/2013 7:13:59 AM PST by Teacher317 ('Tis time to fear when tyrants seem to kiss.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: John W

Heckuvajob Odumbo!


5 posted on 02/28/2013 7:15:13 AM PST by Mr. Peabody
[ Post Reply | Private Reply | To 1 | View Replies]

To: John W

It will be “revised downward” when it is politically expedient to do so.


6 posted on 02/28/2013 7:18:49 AM PST by Ingtar (Everyone complains about the weather, but only Liberals try to legislate it.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: John W
It beats contraction, which was the result of the initial estimate a month ago

So, the initial "estimate" was a contraction; but, magically they were able to pull out a .1% increase. Really? And, I'm supposed to believe this number.

They had to have a positive number, because the last number was a contraction and two contractions in a row is the official definition of a recession. (BTW, I don't believe we ever got out of the last recession; but, that's just me.)

7 posted on 02/28/2013 7:18:49 AM PST by LibertarianLiz
[ Post Reply | Private Reply | To 1 | View Replies]

To: Ingtar
It will be “revised downward” when it is politically expedient to do so.

I don't think it will ever be "politically expedient" to do so. As I said in my response (#7), we had a contraction last time, and two contractions in a row is officially a recession. I don't think they want to go there.

8 posted on 02/28/2013 7:21:25 AM PST by LibertarianLiz
[ Post Reply | Private Reply | To 6 | View Replies]

To: paratrooper82

.2% less would have certified the recession.


9 posted on 02/28/2013 7:22:53 AM PST by AU72
[ Post Reply | Private Reply | To 3 | View Replies]

To: AU72
“.2% less would have certified the recession.” Exactly! This is why I don't believe anything that comes out of these propagandist who purport to tell the American people what the real GDP is!

The economy is in a free-fall, not a single socialist in this Nation has the guts to tell the truth,less they become extinct in 2014!

10 posted on 02/28/2013 7:29:17 AM PST by paratrooper82 (82nd ABN Div. 1/508th BN "Fury From the Sky")
[ Post Reply | Private Reply | To 9 | View Replies]

To: LibertarianLiz
They had to have a positive number, because the last number was a contraction and two contractions in a row is the official definition of a recession.

This is a replacement of the -0.1% fourth quarter 2012 estimate. The third quarter 2012 had an official result of +3.1%.

One big problem is that the "real" GDP is calculated from the nominal GDP minus the inflation rate, and the official inflation rate seems to have absolutely no connection to reality of prices on the street.

11 posted on 02/28/2013 7:36:08 AM PST by KarlInOhio (Choose one: the yellow and black flag of the Tea Party or the white flag of the Republican Party.)
[ Post Reply | Private Reply | To 7 | View Replies]

To: LibertarianLiz

The thing to take away from this is that the economy is flatlining. Last month was the “advance” estimate of Q4 GDP, this month is the “preliminary” estimate and next month is the “final” estimate of GDP which will probably come in at between +\- 0.5%. The last digit is not that statistically significant.


12 posted on 02/28/2013 7:39:18 AM PST by garbanzo (It's the end of the world as we know it and I feel fine)
[ Post Reply | Private Reply | To 7 | View Replies]

To: John W
BUT "personal consumption growth, which clocked in at 2.2 percent in the initial estimate and was expected to rise to 2.3 percent in today's release, actually slowed to 2.1 percent."
13 posted on 02/28/2013 7:57:10 AM PST by harpu ( "...it's better to be hated for who you are than loved for someone you're not!")
[ Post Reply | Private Reply | To 1 | View Replies]

To: John W
Double Plus Good!


14 posted on 02/28/2013 7:58:07 AM PST by PLMerite (Shut the Beyotch Down! Burn, baby, burn!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: LibertarianLiz

“They had to have a positive number, because the last number was a contraction and two contractions in a row is the official definition of a recession. (BTW, I don’t believe we ever got out of the last recession; but, that’s just me.) “

BINGO!!!


15 posted on 02/28/2013 8:01:08 AM PST by MNGal
[ Post Reply | Private Reply | To 7 | View Replies]

To: paratrooper82

Went to the grocery store last night in our local strip mall around 8 p.m. Usually a pretty bustling place, even during mid-week. I was the only one in the grocery store plus one check-out person and two stockers. Two cars parked in front of Kohl’s, ten or so at the Target store. Ice cream and hamburger places had no one. Gas had ticked up another two cents a gallon and no one there. Rest of the stores had all closed early. Very eerie.


16 posted on 02/28/2013 8:10:14 AM PST by Grams A (The Sun will rise in the East in the morning and God is still on his throne.)
[ Post Reply | Private Reply | To 3 | View Replies]

To: paratrooper82

And chocolate rations have been increased from eighty grams to fifty grams per week...


17 posted on 02/28/2013 8:11:02 AM PST by MrB (The difference between a Humanist and a Satanist - the latter admits whom he's working for)
[ Post Reply | Private Reply | To 3 | View Replies]

To: LibertarianLiz

Look at the popular songs right now. We’re in the middle of a folk revival, and the number one song is a paean to Goodwill. This is no recession, it’s Depression Mark 2....


18 posted on 02/28/2013 8:19:28 AM PST by Eepsy
[ Post Reply | Private Reply | To 7 | View Replies]

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson