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Second estimate of US Q3 GDP up 3.3%, vs 3.2% expected

By MrMagic following x   2017 Nov 29, 7:51am 1,140 views   11 comments   watch   sfw   quote     share    


WINNING!!

The U.S. economy grew faster than initially thought in the third quarter, notching its quickest pace in three years, as increases in business investment in inventories and equipment offset a moderation in consumer spending.

Gross domestic product expanded at a 3.3 percent annual rate in the third quarter also boosted by a rebound in government spending, the Commerce Department said in its second estimate on Wednesday. That was the fastest pace since the third quarter of 2014 and a pickup from the second quarter's 3.1 percent rate.

The economy was previously reported to have grown at a 3.0 percent pace in the July-September period. It was the first time since 2014 that the economy experienced growth of 3 percent or more for two straight quarters.


https://www.cnbc.com/2017/11/29/second-estimate-of-q3-2017-us-gdp.html


#economics
1   HEYYOU   ignore (16)   2017 Nov 29, 11:19am   ↑ like (1)   ↓ dislike (1)   quote        

A big number makes everyone rich.

323,000,000 x 14.1%=45,543,000 HAPPY! poor peoples.
Maybe they won't get UNHAPPY!
.https://poverty.ucdavis.edu/faq/what-current-poverty-rate-united-states
MAGA! WINNING!
https://www.thedailybeast.com/trump-is-selling-new-merchandise-made-in-china-and-bangladesh
You are not going to learn today,because stupid.
2   MrMagic   ignore (11)   2017 Nov 29, 11:49am   ↑ like (3)   ↓ dislike (1)   quote        

Don't tell anyone, but the DOW is in record territory.... AGAIN..
3   MrMagic   ignore (11)   2017 Nov 29, 4:23pm   ↑ like (2)   ↓ dislike (0)   quote        

Solid growth from domestic demand combined with accelerating growth overseas has helped push U.S. corporate profits to a new record high. For the economy in aggregate, after-tax corporate profits excluding inventory-valuation adjustments and capital-consumption adjustments — both used in national income accounting — hit an all-time high of $1.86 trillion at a seasonally adjusted annual rate in the third quarter .

That represents a 10.0 percent gain from the third quarter of 2016. These economy-wide measures corroborate public companies’ reports — followed closely by market analysts — of generally strong corporate earnings. Strong profits gains combined with solid growth in demand, low cost of capital, and generally healthy balance sheets for the corporate sector suggest a positive outlook for future business fixed investment.

Overall, economic data suggest an economic environment with solid growth and slow price increases that is likely to continue well into 2018.

https://www.aier.org/blog/third-quarter-real-gdp-revised-higher-profits-hit-record
4   Booger   ignore (1)   2018 Feb 1, 2:58pm   ↑ like (3)   ↓ dislike (0)   quote        

https://www.cnbc.com/2018/02/01/economy-to-grow-at-5-point-4-percent-rate-in-first-quarter-atlanta-fed-tracker-shows.html.

Economy to grow at 5.4% rate in first quarter, Atlanta Fed tracker shows
5   anonymous   ignore (null)   2018 Feb 1, 3:20pm   ↑ like (0)   ↓ dislike (0)   quote        

Hate to inject a bit a truth into this narrative, but it followed that Q3 growth result with a 4Q number of.... 2.6%.
6   CovfefeButDeadly   ignore (4)   2018 Feb 1, 5:58pm   ↑ like (3)   ↓ dislike (0)   quote        

Using the cnn article to paint the worst possible description....other publications are far more critical of President Obama:

http://money.cnn.com/2016/10/05/news/economy/us-recovery-slowest-since-wwii/index.html
President Obama and his policies are responsible for the worst growth since wwii coming out of possibly the worst economic depression the US has experienced.

Much like an extremely obese person should lose weight rapidly on a diet...much more so than say someone who is 50lbs overweight, the economy recovering out of such a severe depression should have a boisterous recovery.

Instead we got growth of 2% rather than the expected 3%.
7   MrMagic   ignore (11)   2018 Feb 1, 6:33pm   ↑ like (3)   ↓ dislike (2)   quote        

anon_3b28c says
Hate to inject a bit a truth into this narrative, but it followed that Q3 growth result with a 4Q number of.... 2.6%.


I hate to add even more truth to the narrative, but 2017 GDP exceeded 2016 GDP (Obama's 7th year of recovery).

..."The economy grew 2.3 percent in 2017, an acceleration from the 1.5 percent logged in 2016. Economists expect annual GDP growth will hit the government's 3 percent target this year, spurred in part by a weak dollar, rising oil prices and strengthening global economy."
https://www.cnbc.com/2018/01/26/gdp-q4-2017-first-reading.html



Plus, we'll have to see what the revisions come in at.
8   Strategist   ignore (1)   2018 Feb 1, 7:35pm   ↑ like (0)   ↓ dislike (0)   quote        

Sniper says


Obama never achieved a GDP growth rate of 3% in any year. Businesses never trusted him.
Proof.

https://www.statista.com/statistics/188165/annual-gdp-growth-of-the-united-states-since-1990/
9   TwoScoopsOfWompWomp   ignore (2)   2018 Feb 1, 7:40pm   ↑ like (0)   ↓ dislike (0)   quote        

Higher energy than Soviet Space Disco!

10   anonymous   ignore (null)   2018 Feb 2, 6:48am   ↑ like (0)   ↓ dislike (0)   quote        

Strategist says


Obama never achieved a GDP growth rate of 3% in any year. Businesses never trusted him.
Proof.


And so far, Trump is 0 for his term as well. First year was 2.6%.
11   anonymous   ignore (null)   2018 Feb 2, 6:48am   ↑ like (0)   ↓ dislike (0)   quote        

Sorry--2.3%--my mistake.




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