Posted on 01/27/2022 9:40:48 AM PST by semimojo
The U.S. economy grew at a much better-than-expected pace to end 2021 from sizeable boosts in inventories and consumer spending, and despite signs that the acceleration likely tailed off toward the end of the year.
Gross domestic product, the sum of all goods and services produced during the October-through-December period, increased at a 6.9% annualized pace, the Commerce Department reported Thursday. Economists surveyed by Dow Jones had been looking for a gain of 5.5%...
The quarter brought an end to a 2021 that saw a 5.7% increase in annualized GDP, the strongest pace since 1984 as the U.S. tried to pull away from the unprecedented drop in activity during the early days of the coronavirus pandemic.
(Excerpt) Read more at cnbc.com ...
Is that real growth? Or did it just keep up with inflation?
And what business sectors were left out to get to that number?
Great question. This runs counter to everything we have been hearing and witnessing.
The fourth-quarter data reflected those price pressures as well, with the price index for gross domestic purchases up 6.9% in the fourth quarter and 3.9% for the full year.
Are they saying that prices are up 6.9%?
And also saying that GDP is up 6.9%?
Can these dots be connected?
Hi.
The GDP is not reported in inflation adjusted numbers.
Plus, the current GDP growth will be adjusted, up or down in two weeks.
The numbers are in the ballpark given the pent up demand.
5.56mm
Best President since Reagan!!!
LMAO...right.......
This was the old Jimmah Carter trick.
GDP growth 5%—inflation rate 10%—real growth rate negative five percent.
They didn’t fool anybody with that garbage.
Growth was better than expected, unemployment was better than expected, inflation was through the roof. Which of those three do you think voters are going to remember in November?
“Plus, the current GDP growth will be adjusted, up or down in two weeks.
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During the obama “adminsitration” they would post fantastic unemployment stats then a few days later, revise the numbers.
Looks like the Dems are up to their usual methods.
Yep. Inflation hits home, especially when unemployment's low and people aren't worried about getting a job.
If actual inflation is 15% but the official narrative is that inflation is (only!) 7%, would the increased spending to just to tread water be seen as 8% growth?
That’s the big question. If it is the total dollar amount of goods and services produced then inflation is a large factor. If so, these numbers are lower than inflation and we actually have a decrease in economic output.
They can tell us all they want about "better than expected" numbers, but families filling up their cars with gas and buying groceries at inflated prices know different.
Happy Days Are Here Again!
This means little. The number is over the big cut backs from last year’s COVID. Remember the no Christmas Christmas. We did 6.9% better when we had a Christmas. Remember these numbers are an increase over the same quarter from last year.
So going back to pre-COVID we are doing just OK. But considering the massive cash thrown at people, we are doing very badly. And now we have to sop up that extra cash before it starts making every price go higher. My children have huge salaries, it will be interesting what becomes of those. I have a 24 year old who got a 40% raise. All of the kids got massive raises, most switched jobs to get them. That inflation is not coming out of the system too easily.
Opa!
“Is that real growth? Or did it just keep up with inflation?”
In three weeks the number will quietly be adjusted to 1.2%.
GDP calculations include government spending.
6.9 percent GDP increase…. 7 percent inflation…. Biden is the best ever. Common core math says so.
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