Posted on 07/30/2013 10:31:42 AM PDT by Perdogg
Tomorrow, we get the first official look at Q2 U.S. GDP figures.
Market economists predict on average that the U.S. economy grew 1.0% at an annualized pace in the second quarter after posting 1.8% growth in Q1. Personal consumption is expected to have risen 1.6% after a 2.6% advance in Q1.
(Excerpt) Read more at businessinsider.com ...
ping
With petroleum products on the upswing, new cars being produced and a small bump in home building, I would not be surprised to see the 1% exceeded. Of course, el dumbo will take credit for something he had nothing to do with. Oh, I think the production of baseless currency is also on the upswing.
Nobody has a job but the stock market is soaring.
Initial GDP estimates are always high under Obama, the revised figure that comes out a couple of months later is lower. The previous quarter came in at 2.4% initially I think, and was revised down to 1.8%. I’m going with 1.6%, which will generate headlines saying “GDP better than expected”, and then will get revised down later when few people will notice.
Which means it will be covered as little as possible.
makes me wonder where we’d be without the energy boom
GDP growth of at least 2% is needed just to stay even. And even high growth doesn’t tend to reduce unemployment by more than 1% a year.
FactSet Consensus is 1.0%
Anything below 2.0% is very weak growth. It will be blamed on sequestration. People who want cuts in government spending have to realize it impacts GDP growth given the regulatory and tax environment which is decidedly anti-growth.
Personally I regard this movement by fast food workers and other minimum-wage workers to unionize as a symptom of such anemic growth.
They feel stuck. They despair of ever having rungs on the ladder to climb for something better. So they dig in and fight for all they can get where they are.
In other words, Europe.
Raise the import tariffs and put Americans back to work.
Raise the import tariffs and put Americans back to work.
Great line, LOL. note to self - buy more metal.
The margin of error would put a possibility of negative growth,
but the MSM will NEVER let a negative growth number be reported.
The fed pump is fueling growth in Asia, the Philippines 2nd qrt number came in at 7.5%.
I guess we get an ADP number tomorrow as well.
Yep. Consensus is +180K. Looking ahead to Friday, NFP consensus is +183K and UE3 is 7.5%
fed pumping is omnipotent
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