Stock index futures are solid @ +0.31% this AM while metals are off -0.12%. U.S. Stock Futures Gain Before Economic Data Amid Greek Talks OK, so over all markets continue to be flat....
Posted on 06/25/2015 4:46:03 AM PDT by expat_panama
The U.S. economy contracted in the first three months of the year, just not as much as previously estimated. More recent data show that the weakness was largely temporary, with a rebound in the works for the April-June quarter.
The economy, as measured by the gross domestic product, shrank at a seasonally adjusted annual rate of 0.2 percent from January through March, the Commerce Department said Wednesday. That's better than last month's estimate of a 0.7 percent decrease.
Harsh winter weather slowed spending by keeping consumers away from shopping malls and auto dealerships. The trade deficit ballooned, slicing growth by the most since 1985 as exports fell and imports rose.
Yet consumers stepped up their spending in May, and home sales are climbing — signs that the economy is back on track. In addition, many of the headwinds the economy faced in the first quarter — from an increase in the dollar's value to spending cutbacks by oil drillers — are fading.
"Growth should remain near 3 percent in the second half of the year as the dampening effects of a strong dollar and oil industry slump fade," Sal Guatieri, an economist at BMO Capital Markets, said in a note to clients.
Forecasting firm Macroeconomic Advisors predicts growth will reach 2.7 percent in the second quarter. And many economists agree with Guatieri that growth should reach 3 percent in the second half of the year.
Still, that would leave growth in the first half at a weak 1.2 percent annual rate. The economy appears to be on track for another year of modest 2 percent to 2.5 percent growth.
That's far below the optimism at the beginning of the year, when lower oil prices and healthy hiring led many economists to forecast growth above 3 percent...
(Excerpt) Read more at finance.townhall.com ...
I wonder what this article would have looked like if a republican was the president at this time
AP economy under Obama has contracted for three months in a row which does normally mean the US economy is in a recession, is reported as just fine!
AP economy under a Republican is in a recession when the unemployment rates was 4.5%
stop listening to the AP and all other old media propagandist news outlets
Lies, damn lies and statistics!
Stock index futures are solid @ +0.31% this AM while metals are off -0.12%. U.S. Stock Futures Gain Before Economic Data Amid Greek Talks OK, so over all markets continue to be flat....
This Obama economy has had more rebounds than Kareem Abdul-Jabbar.
Translation, we fired the guy who did the first quarter numbers.
Speak fer yerselves guys, I'm having a great time!
I guess if you consider the last 7 years temporary.....
You’re welcome.
That's true. The press is shallow, biased, and sensational so we use it as merely a starting point to get to what's happening. I did well in '04-'08 knowing the econ was actually great, and I've also done well to know better since then. The point is that there's more to running a business than which side we're on.
Just more of the usual and customary BULLSH!T, LIES, and COOKING THE BOOKS!! Nothing from the Washington, D.C. manipulators can be believed.
lol!!! You can’t be saying I made a bundle because I swiped yours —you’re not one of the “you didn’t build that” people are you?
Well, it’s good to know the “rebound” is at least coming
after only 7 years...or is it?
EVERYTHING IS AWESOME! /s
Just more AP unicorn economics. I was recently going through seeds for the garden. I frequently save unused seeds and occasionally buy more while I still have a few. I have two packs of Habanero peppers. Both Burpee’s, one from 2012, one from 2014. One was $1.00 the other $2.25.
Thank God there is no inflation.
I hate to say it, but things must be improving a little bit. My work has been crazy lately, but that’s just anecdotal, and it is summer after all.
I don’t think Pravda was this bad under Stalin.
It may be cause you are still employed doing the work formerly done by several. I remarked to a guy who had been a machinist that I, too, had been once. He said during the depression he had a job that required him to start the drill and then go to the lathe and start a cut and then run to the mill to start another. When I expressed dismay he said he was dang happy for the work.
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