Posted on 08/28/2014 8:30:21 AM PDT by SeekAndFind
On Thursday, the Bureau of Economic Analysis released its second estimate of real gross domestic product for the second quarter of 2014 — covering April, May and June of this year. The release showed output in the U.S. increasing at an annual rate of 4.2%. This is relative to the first quarter when real GDP declined a sharp 2.1%.
The revision is up marginally from BEA’s 4% advance estimate released last month. The revision, BEA said in a release, was largely due to a larger than previously estimated increase in nonresidential fixed investment. However, the increase in private inventory investment was smaller than previously estimated. Of the revision the BEA wrote, “The general picture of economic growth remains the same” as when it released the advance estimate.
The 4.2% growth in real GDP reflected growing personal consumption, private inventory investment, exports, both residential and nonresidential fixed investment, as well as local government spending. The gains were partially offset by an increase in imports, which negatively impact GDP, and a 0.9% decline in federal government expenditures.
(Excerpt) Read more at forbes.com ...
GDP is up because inflation is up.
Have you been to the grocery store lately?
Of course in a month or so from now they will quietly announce revised figures showing about a half point growth.
I call bullshit.
All downward revisions on hold until December. Pass it on... CBO memo team.
Right, and how much of that growth is caused by the real inflation that's going on but being kept secret?
See when you say it's "non-partisan" that means its not political, you know unlike everything else in dc it stands above politics.
Orders aren’t included in GDP. Shipments are.
To be honest, there is very slow growth from the 4th quarter of last year until now.
The real question is this: how much more is the GDP now than it was at the end of last year?
Is it 4.2% more? Nope. It’s Not even 2% more. Why? Because it was revised so far down that any increase would look monumental.
Let’s say that something goes down 4.2% one quarter. That would be awful, right? But then if it goes up 4.2% the next quarter, should you be crowing about how great your growth has been? Nope. All you’ve done is catch back up. You’ve not really GROWN at all.
LIARS
The market is up 7.5% in the last six months, which is a nice gain considering all the international turmoil.
In the economy, wages are stagnant, and work force participation is way down, but there is plenty of welfare available to all comers, and the GDP has grown slowly in almost every quarter since 2010.
I don't think the Republicans have much to work with in those two areas.
And, since the Republican leadership gave up trying to repeal ObamaCare, since they gave up on the budget, since they gave up on debt increases, since they refuse to vigorously defend Israel, and since they search for every opportunity to betray us on immigration, I can't think of any other issues we can run on.
ISIS, maybe?
Last year, I predicted the GOP would win 4 Senate seats, 2 seats short of a majority.
Since the GOP stands for nothing, I'm sticking with that number.
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