Skip to comments.2Qrt US GDP: 2.5% - 2.2% expected
Posted on 08/29/2013 5:30:44 AM PDT by Perdogg
GDP 2.5%, Exp. 2.2%— zerohedge (@zerohedge) August 29, 2013
There is no more trust in the US gov’t.
Everyone know these numbers are made up wholesale.
States, like CA?, with problems are simply left out
from the new Soviet-America fake-date to improve
the numbers for the Tyrant and his corrupt administration
of czars, terrorists, and Communists.
Initial Claims 331K, Exp. 332K— zerohedge (@zerohedge) August 29, 2013
The real numbers we should count is how many of our immediate family and friends are unemployed or underemployed. That’s what makes these Big Gubmint numbers so phony.
Both Personal Consumption and Fixed Investment were revised lower— zerohedge (@zerohedge) August 29, 2013
About as a reliable number as the national debt remaining frozen for 100 days.
U6 is the apples to apples comparison for the Great Depression unemployment numbers.
I’ll give this number some serious thought when we get the *revised* value in a couple of months (gee, I wonder if it will get revised up or down?)
revised upward on trade gap and higher inventories. Personal consumption and fixed investment revised down.
Why is US’ new method of calculating GDP making headlines
New York Times Aug 1, 2013, 01.49PM IST
That would be before they adjust it back down again when the third quarter comes out—with another inflated figure before they adjust it back down when the fourth quarter...
the increase and inventories and decrease in PCE are worrisome.
I'll bet the Gallup UE numbers are closer to the action on the ground. Current UE based on their figures sits at 8.8%
Next Thursday the ADP numbers are out followed by NFP on Friday.
IIRC, Team BO changed the way GDP was calculated....just a couple months ago.....
Anyway, the buttlicking media will likely sing the praises of the Clown over this tepid number....
This morning’s revised Q2 GDP report also came with a preliminary estimate of Q2 corporate profits.
Profits climbed 3.9% quarter-over-quarter, after having gone negative in Q1.
“Second-quarter corporate profits rebounded by 3.9% q/q (unannualised), after falling by 1.3% in the first,” said Capital Economics’ Paul Ashworth.
The GDP methodology is frequently updated and when they do they revise back to 1929 for a consistent view.
GDP is actually negative when you subtract Federal deficit spending. Probably negative 4 or 5 percent.
Both state and federal spending declined YOY subtracting 0.06% and 0.12% from GDP this quarter.
In other news B.B. raises choco rations to 20 grammes a week !
Ok do really think the GDP numbers are unaffected by the 400 billion in deficit i.e printed money spending? Really? You think that?
GDP is affected by trillions of dollars of spending from all kinds of sources. I was merely pointing out the fact that government spending declined from last year and was a drag on GDP.