Posted on 07/29/2016 6:15:51 AM PDT by Red in Blue PA
The American economy barely rebounded last quarter from its winter doldrums as weak spending by businesses overwhelmed an otherwise healthy consumer sector.
Besides the drop in corporate investment, weaker government spending also held back growth, reinforcing a trend that has hobbled the recovery in recent years. The number was well below the 2 percent pace of expansion that economists had been looking for, highlighting the economy’s continued ability to disappoint experts who have been confident that better times are around the corner.
(Excerpt) Read more at nytimes.com ...
2% ? That got GHWBush unelected.
Last quarter revised DOWN to .8%
first quarter was also revised down to .8% so the last 3 quarters we have averaged 1%....pathetic
Dig into the boilerplate and discover that they are blaming....
THE VERIZON STRIKE!!
A strike that did little more than slow the rate of new FIOS installs. My brother’s buddy was on strike. Little did he know he had such power!
We’ll find out how bad it really is when they are forced to tell the truth quietly and it is “reported” on page 28C of the NYTs. UGH! don’t you just hate these lies?
If you subtract out deficit spending the economy is shrinking.
Well now this would go against what that old hag Fed Reserve Chair Yellen said just two days ago. (and surely had advance info of todays GDP No.) That everything was looking up. Gee one was almost left with the impression that she was talking up the economy just in time for the election.
Less than 2% for three consecutive quarters.
The entire economy evidently rests on people getting triple play deals, buying lottery tickets, and smartphone apps.
Thank you, President Obama, for your service.
For these brain dead keynesians, its all about aggregate demand.
Nothing about the USA’s massive pile of debt, or our overbearing, rapacious government.
The CBs want $hillary to win.
FIFY
No, that is flat out wrong. Economists were looking for a 2.6% increase. You have to question anything the NYT says.
Like the last 2 years, the Q3 will look much better and the Q4 will be weak again. The Dems will crow about the Q3 number right through to the election and the market will most likely rise in September and October.
But it won’t work.
In other words, the actual performance was 40% less than what had been reported. 1.2% and 2.0% does not seem like much of a difference, but it is a 40% miss....
Obama’s Fault!
That my FRiend is exactly how the game is played. People who produce “studies” that say things the government doesn’t want to hear don’t get anymore new contracts. You will not be on their solicitation list if you’re experts produce data, conclusions or recommendations that is contrary to the party line. Most contractors learn this political reality quickly or they don’t stay contractors very long.
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