Posted on 05/15/2015 8:44:52 AM PDT by Theoria
The U.S. economy had a really bad March, the worst since the financial crisis. But dont panic.
The broadest gauge of U.S. economic output, from the Commerce Department, tracks the economy on a quarterly basis. The private forecasting firm Macroeconomic Advisers provides a measure to track gross domestic product on a monthly basis, highlighting some of the volatility that gets smoothed out in the official quarterly figures.
Macroeconomic Advisers on Thursday said its monthly estimate showed GDP fell an inflation-adjusted 1% in March, the largest drop since December 2008, when the U.S. economy was in the throes of recession, the firm said. Monthly GDP had climbed 0.3% in February and ticked up 0.1% in January after falling 0.4% in December, the firm said.
The key reason not to worry too much: The contraction reflected a drop in net exports related to the resolution of a labor dispute at West Coast ports, the firm said.
Because the decline in monthly GDP was driven by a surge in imports that was probably unrelated to current production, we are suspicious of it and believe it overstates the underlying weakness in the economy, Macroeconomic Advisers said in a note to clients.
The Commerce Departments initial estimate of first-quarter GDP pegged growth at a 0.2% seasonally adjusted annual pace. An updated figure due out May 29 is expected to show the economy actually contracted.
(Excerpt) Read more at blogs.wsj.com ...
We had tariffs greater than 20% all during the roaring 20's. And the Smoot-Hawley tariff wasn't passed until we were a year and a half into the Great Depression. Not only that, but back then imports were equal to 5% of our GNP. Imports just weren't big enough to account for the Great Depression.
Looks like predicting recessions that never occur. Should be having the fourth one by now using that chart. The data is very noisy. I do not understand how they can replicate the Commerce Department survey(s).
Bonehead and McTurtle could learn something.
Zero and Liawatha, not eaven a hope.
The US has taken longer and longer to recover after each recession.
Half way expecting a real life 10-289 directive.
But it is! Obama just gave a speech a few days ago, saying the nation is growing and prospering, and the recession is long over! /s
doing a great job there obammy,
ya marxist dumbass.
Most people are not seeing REALITY.
Here’s what Bill Holter of Miles Franklin has to say:
https://www.youtube.com/watch?v=60sA0iDQtLI
“That didnt take long did it? I of course am speaking of the second overnight and global meltdown of the credit markets in the last four business days! Before getting into this topic which I believe will soon be seen in retrospect and by historians far into the future as THE trigger event.” (sic) http://blog.milesfranklin.com/a-foundation-of-bad-credit-is-no-foundation-at-all
Pray ... and prepare!
And Eastasia has always been at war with Oceania
I don’t think so. All the most popular video games involve trading and earning.
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