Posted on 06/29/2023 6:53:09 AM PDT by ChicagoConservative27
The U.S. economy was much stronger in the first quarter of 2023 than it initially seemed, according to data released Thursday by the Commerce Department.
U.S. gross domestic product (GDP) grew at an annualized rate of 2 percent in the first quarter, according to revised data released Thursday, far faster than the 1.3 percent annualized growth rate estimated by government officials earlier this year.
The first-quarter growth rate has been revised substantially higher from the 1.1 percent annualized rate first reported by the Bureau of Economic Analysis earlier this year.
The revision is much bigger than what is normally announced by the BEA.
The BEA makes three estimates of economic growth for each quarter, but revisions are usually far smaller than the 0.7-percentage point boost seen Thursday.
(Excerpt) Read more at thehill.com ...
Get ready for Mr. Mush For Brains to take a victory lap today and brag about all the jobs he created in Ukraine, er, Iraq, er, China.
Economy hasn’t improved for me.
LOL! The Brandon administration is such a wonderful source of good news. I guess this is the Ass. Press way to kickoff the Let’s Go Brandon “Bidenskyyyyynomics” World Tour and Victory Lap.
The Shill keeps shilling.
From the Hill of Crap
That was not growth that was inflation.
Inflation is probably about 20% based upon costs of everyday items.
If the economy growth is less than inflation, the economy is actually shrinking......
That’s what I am seeing, and I think that is what people are feeling.
Sure it did. LOL
must mean cost of living?
SYLVAN LANE
AI story
Revised economy. Revised votes.
It’s true.
When everything is taken into consideration. If everything out there became more expensive during the last 2 years because of inflation, then, all computations for economic growth have to consider the inflation rate, and so, we end up with ‘inflated economic growth’. Without the inflation rated, the economy would be in recession. ;)
Everything I buy, costs more, but, all of those things add up to be being richer. For example, if I bought a house 2 years ago, I’m 30% richer then I was 2 years ago, because home prices have gone up 30% in the last 2 years. Inflation is my best friend. Biden should be touting the benefits of inflation. ;)
Folks don’t comprehend the amount of money the world has. That money flows into areas. The US is/was a area for investment and parking money. That money has to do something, via real estate, equities, and other places. The The US was flooded with covid cash from Trump and Biden, it will take time for that money to settle down, and also not being as lock down prone as other countries invites investment.
Given how much the government lies why would anyone believe these numbers? This is fabricated nonsense designed to help Biden and gaslight the public.
All lies and jest.
But a man hears what he wants to hear,
And disregards the rest.
(The Boxer, 1969, Simon and Garfunkel)
Sure it is, and the harvest is at record numbers.
BIDEN SHILL.
We all know there is a booming economy in disinformation supression and public service deepstate party line propogandizing, perhaps medical administration or regulatory services. What about things that matter to people, like food, clothing, REALENERGY TM, and manufacturing of things necessary for happiness and well-being. We all know that true journalism has shriveled up and is almost dead.
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