Posted on 02/28/2014 8:27:11 PM PST by BenLurkin
The Commerce Department sharply reduced its estimate of fourth-quarter growth to a moderate 2.4% annual rate. Friday's revision downsized big gains in consumer spending and exports from its initial estimate of 3.2% in January.
The updated figures on total economic output, known as gross domestic product, indicated the economy entered this year with less momentum than analysts had anticipated.
And the lower rate added to concerns that recent lackluster economic data could signal even weaker growth in the weather-battered first quarter.
"The dividing line between an escape-velocity economy and a so-so, ho-hum economy is right at 3%," said Chris Rupkey, chief financial economist at Bank of Tokyo-Mitsubishi in New York.
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(Excerpt) Read more at latimes.com ...
Commie pink fag occupies the WH.
This very phrase is a homerun waiting to happen. All campaigners on the right just have to repeat over and over:
Obama is a proven liar and we are in a depression.
Yep.
Also IIRC, the unemployment figures, even though misleading on account of their basis, have been occassionally adjusted/corrected to lower values as the actual data became available.
Just like the weekly UE numbers, they report generously then revise it downward later. All lie!
That’s a very good point. I had forgotten about that. This means that every report is a lie.
I heard that adolescent kids in MA picture Elizabeth Warren to keep from getting wood in class.
Warren or another guy?
I won’t post which one I’d choose...
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