Skip to comments.U.S. final Q1 GDP revised down to 1.8% from 2.4% [Sharply Down: Obama Economy FAILING]
Posted on 06/26/2013 5:45:26 AM PDT by SoFloFreeper
The U.S. economy grew significantly less-than-expected in the first quarter of 2013, fuelling concerns over the U.S. economic outlook, official data showed on Wednesday.
In a report, the Bureau of Economic Analysis said gross domestic product increased at a seasonally adjusted annual rate of 1.8% in the three months to March, below expectations for a 2.4% gain.
(Excerpt) Read more at investing.com ...
The GDP price index rose by 1.3% in the first quarter, above expectations for a 1.2% gain.
All of the news today will be about the sodomites and the Supreme Court...but this is important.
How many more quarters are the administration and their media stooges gonna be allowed to pull this crap?
Well, ain’t that a kick-in-the-pants to all the Mary Sunshine’s at CNBC and Bloomberg who were singing the praises of the ever-illusive “recovery.” Apparently, those who lie every day for a living finally believe it.
That's a 25% error! Man, wish I had a job where I could get away with that level of slop.
Good thing is, we probably aren't paying them what they are worth in the private sector.
Or a 33% error, depending on how you look at it.
Obama’s policies are only a failure to market based economics, those who believe in organic growth. Obamanomics is a success for ‘Progressives’. Command and Control works this way every time.
Looks like the Fed will be ‘justified’ to ramp up QE again.
Exactly who are these IDJUTS who were "expecting" higher growth?? Why would ANYone with half a brain be surprised by this?
Post of the day
Tell me about it. I've worked in the financial services industry for 25 years and was just laid off for the third time. I am told however, that in spite of my credentials I am "unqualified" to work for the Federal government because I lack a PhD. If I had one, it seems I could get away with making predictive errors in excess of 6 standard deviations.
This, from CNBC’s U.S. Markets Overview:
“The 1.8 percent GDP is particularly alarming...If this is the best we can do, even after income bumps and an aggressive QE program, the domestic economy is even more fragile than what we already believed,” said Todd Schoenberger, managing partner at LandColt Capital. “There is a clear disconnect from what the Fed is reviewing and Main Street is living. The pathetic part of it all is Wall Street will see this as good news as stocks will most likely rally on hopes of an extended period for more bond buying.”
More evidence the recent economic “growth” has as its foundation the soon-to-end sugar high of QE.
Obamanomics: massive, utter failure. Moving along nicely as planned. In order to bring about change he needs to rid himself of the capitolist system
0bama cooked the books?
Say it ain’t so!
Even in Left World there are only 4 distinguishable deviations: heterosexual, white, judeo-christian and Conservative.
As I've said all along - There never has been a "RECOVERY", only propaganda and newspeak from the state controlled media.
“You’re gonna want more cowbell!”