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Posted on 02/28/2017 6:36:47 AM PST by Olog-hai
The U.S. economy grew at an anemic 1.9 percent rate in the fourth quarter, unchanged from an initial estimate, although consumers performed better than first thought.
The increase in the gross domestic product, the broadest measure of economic health, represented a significant slowdown from 3.5 percent growth recorded in the third quarter, the Commerce Department reported Tuesday.
The fourth quarter figure was unchanged from the first estimate a month ago, although some of the components were revised. The government found that consumer spending grew at a faster rate, but spending by state and local governments and businesses equipment purchases were weaker.
Growth for 2016 overall was just 1.6 percent, the poorest showing in five years. Since the recession ended in mid-2009, annual growth has averaged 2.1 percent, the worst performance for any recovery in the post-World War II period. …
(Excerpt) Read more at hosted.ap.org ...
In all fairness to PRESIDENT Trump, the Kenyan community agitator was still in office during the fourth quarter.
Clearly Trump’s xenophobic, racist chickens coming home to roost.
‘although some of the components were revised’
I guess they are ‘revised’ to reflect whether or not it is an evil Republican or wonderful Democrat in charge?
This can’t be right. More “Fake News?” All we have been hearing from the MEDIA is how wonderful the economy was zipping along under the brilliance of the former administration.
It appears that to find the “TRUTH” one must read/listen to the MSM, then accept the OPPOSITE as the reality.
Most of the 4th quarter was under the policies of President Zero-growth-bama. Trump’s announcements of forthcoming tax breaks and removal of Federal regulations actually had an uptick effect on the economy near the end of the 4th quarter, I believe.
Notice the word “weak” used in the headline. Even though the “weak” quarter was under Obama, AP knows that many readers will take this to mean that Trump’s economy is “weak.”
They rarely, if ever, described the low GDP numbers as “weak” when Obama was in office.
I’m shocked that they admitted to the weak overall 2016 growth, which is 1.6 percent. Without mentioning Obama, of course.
All of it was under the policies of Obama. There were no Trump policies in effect in the 4th quarter no matter how powerful his Office Of The President Elect was perceived to have been. He’s only been President five weeks.
Remember, Obama’s economic policies were still in place between October and December 2016. Policies which were dragging down the US economy. I expect once the business regulation reform and tax reforms from Trump come into place, the US growth rate will be in the 4 to 5 percent range.
As epected, after shamelessly pumping up equally bad economic data under Obama as “a strengthening economy” the poltical whores at AP now change the spin to “bad news for the economy”.
You got the real numbers for once AP, instead of the poltiized air brushed nonsense the 0 regime was putting out with much hype, and then quietly revising downward later.
Very true -- although, was Obama's name even mentioned in the article? I'm pretty sure they want you to think that it was Trump's failure. I believe that Obama is the first POTUS to not have one quarter of 3% or more growth in his presidency.
Good afternoon.
“I believe that Obama is the first POTUS to not have one quarter of 3% or more growth in his presidency”
Nor one year of growth of 3%. And remember, GDP was calculated differently than the past 50 years. 0bamacare, patents, copyrights, and other intellectual property were added to GDP during the 0bama regime.
From the birth certificate to economic metrics, the 0bama regime has been a monumental fraud.
5.56mm
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