Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

GDP: Economy Grew at Sluggish 1.5% Rate in 2Q
AP via The Chicago Tribune ^ | Friday, July 27, 2012

Posted on 07/27/2012 6:16:55 AM PDT by kristinn

The U.S. economy grew at an annual rate of just 1.5 percent from April through June, as Americans cut back sharply on spending. The slowdown in growth adds to worries that the economy could be stalling three years after the recession ended.

The Commerce Department also said Friday that the economy grew a little better than previously thought in the January-March quarter. It raised its estimate to a 2 percent rate, up from 1.9 percent.

Growth at or below 2 percent isn't enough to lower the unemployment rate, which was 8.2 percent last month. And most economists don't expect growth to pick up much in the second half of the year. Europe's financial crisis and a looming budget crisis in the U.S. are expected to slow business investment further.

SNIP

The Commerce Department also revised its growth estimates for the past three years. Those revisions showed that the economy contracted 3.1 percent in 2009, slightly less than the 3.5 percent previously reported. Growth in 2010 was put at 2.4 percent, down from 3 percent, with growth in 2011 at 1.8 percent instead of 1.7 percent.

The U.S. economy has never been so sluggish this long into a recovery. The Great Recession officially ended in June 2009.

(Excerpt) Read more at chicagotribune.com ...


TOPICS: Breaking News; Business/Economy; News/Current Events
KEYWORDS: economy; gdp; growth; hopeandchange; obama; obamanomics; recovery; stimulus
Navigation: use the links below to view more comments.
first 1-2021-4041-48 next last

1 posted on 07/27/2012 6:17:04 AM PDT by kristinn
[ Post Reply | Private Reply | View Replies]

To: kristinn

We tried our way, and it worked! The private sector is being destroyed just as we planned.


2 posted on 07/27/2012 6:21:01 AM PDT by nobamanomore
[ Post Reply | Private Reply | To 1 | View Replies]

To: kristinn
three years after the recession ended.

My name is Inigo Montoya ... they keep using that phrase. I do not think it means what they think it means.

3 posted on 07/27/2012 6:21:37 AM PDT by ClearCase_guy (Roger Taney? Not a bad Chief Justice. John Roberts? A really awful Chief Justice.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: kristinn

I read that the growth in June was just above 0.


4 posted on 07/27/2012 6:21:55 AM PDT by AU72
[ Post Reply | Private Reply | To 1 | View Replies]

To: kristinn

Katie bar the door - this’ll be all over the news today.


5 posted on 07/27/2012 6:23:12 AM PDT by skeeter
[ Post Reply | Private Reply | To 1 | View Replies]

To: kristinn

I watched the headlines at 9am on Fox CNN and Msnbc. Fox top story was the GDP, CNN and MSNBC went with Romney blunders in London. CNN never mentioned the GDP at any point that I could see.

UpChuck Todd on MSNBC did not have it on his list at all as far as I could see, speaking of the GDP. His headline was Romney gives gift to Obama in Britain


6 posted on 07/27/2012 6:24:22 AM PDT by Friendofgeorge (SARAH PALIN 2012 OR BUST)
[ Post Reply | Private Reply | To 1 | View Replies]

To: kristinn

Over at WaPo, the O’Vomit kool-aid drinkers are busy defending their feckless, I mean FEARLESS leader. Wow, yep, all we need is four more years of this.

And he;s claiming in campaign speeches that his plan was tried and it worked.

A jobless recovery, and now a skidding recovery. The WaPo article even says in as many words, that “the US economy has never been this sluggish this far in to a recovery”.

Seriously, I’m poppin’ popcorn and inviting friends over one week from this morning at 8:30 eastern to watch the unemployment reports and the spin the community organizer will put on it.

Hey, that’s it...he just needs to organize the business community and convince them to hire people—at least until the election.


7 posted on 07/27/2012 6:24:35 AM PDT by VideoPaul
[ Post Reply | Private Reply | To 1 | View Replies]

To: nobamanomore

Some of the commercials are beating the snot out of the Communist thug.

It Worked and You didn’t build that.

Hopefully Romney has not peaked. I want 57 states.


8 posted on 07/27/2012 6:30:49 AM PDT by PA-RIVER
[ Post Reply | Private Reply | To 2 | View Replies]

To: VideoPaul

I think the rest of the jobs reports, and even the Thursday numbers will be totally fixed by the democrat labor dept career employees/appointees the rest of the way. They have been lying for some time.

I suspect some of these months that they claim anywhere from 0-90,000 jobs, are in fact really losses


9 posted on 07/27/2012 6:30:49 AM PDT by Friendofgeorge (SARAH PALIN 2012 OR BUST)
[ Post Reply | Private Reply | To 7 | View Replies]

To: Friendofgeorge

What happened to “My plan worked!”?


10 posted on 07/27/2012 6:37:36 AM PDT by scooby321 (h tones)
[ Post Reply | Private Reply | To 9 | View Replies]

To: kristinn

It is amazing to me, that a country the size of the US, with its rich history, rich resources and capabilities seems to be constantly lagging when it comes to economic growth.

Obviously this is solely down to the circumstances created by successive governments and the Congress. It is almost as if they want the US to fail, in fact I can really see no other logical explanation.


11 posted on 07/27/2012 6:41:00 AM PDT by UKrepublican
[ Post Reply | Private Reply | To 1 | View Replies]

To: ClearCase_guy

12 posted on 07/27/2012 6:43:53 AM PDT by EEGator
[ Post Reply | Private Reply | To 3 | View Replies]

To: VideoPaul

Wow “never before been”....I guess one might call that....Unprecedented.


13 posted on 07/27/2012 6:44:42 AM PDT by rod1 (CTLY)
[ Post Reply | Private Reply | To 7 | View Replies]

To: nobamanomore

I guess nobody built it.


14 posted on 07/27/2012 6:52:17 AM PDT by Perdogg (Let's leave reading things in the Constitution that aren't there to liberals and Dems)
[ Post Reply | Private Reply | To 2 | View Replies]

To: skeeter

So far what I’ve seen is the upward revision of the previous quarter highlighted by “the news.”


15 posted on 07/27/2012 7:03:36 AM PDT by John W (Viva Cristo Rey!)
[ Post Reply | Private Reply | To 5 | View Replies]

To: scooby321
What happened to “My plan worked!”?

It DID work, just as he planned; fundamentally transforming America!

16 posted on 07/27/2012 7:03:51 AM PDT by NRA1995 (I'll cling to my religion, cigars and guns till they're pried from my cold dead fingers!)
[ Post Reply | Private Reply | To 10 | View Replies]

To: Perdogg; UKrepublican

You both hit the nail on the head. The point is that in a nation rich in resources, nobody is building anything. Our government refuses to let us use them whenever it can.

We have a treasure trove of oil, gas, and valuable metals just waiting for us to tap into them. There is no reason we could not return to our status as the economic, manufacturing and financial powerhouse of the world.

The only excuse for not doing so is a stupid electorate that keeps voting it’s own impoverishment.


17 posted on 07/27/2012 7:07:22 AM PDT by henkster (We're the slaves of the phony leaders...)
[ Post Reply | Private Reply | To 14 | View Replies]

To: henkster

“Wall Street rose on Friday following a report on economic growth which met expectations and on hopes for further stimulus from the Federal Reserve and the European Central Bank.”-Reuters


18 posted on 07/27/2012 7:09:14 AM PDT by John W (Viva Cristo Rey!)
[ Post Reply | Private Reply | To 17 | View Replies]

To: kristinn

This news is worth +400 on the Dow. Hey, the private sector is doing fine...


19 posted on 07/27/2012 7:11:29 AM PDT by Mashood
[ Post Reply | Private Reply | To 1 | View Replies]

To: kristinn
The blue line represents the GDP adjusted by an inflation rate that measures the cost of a set standard of living, not a declining standard of living.

Just image if government spending were removed!


20 posted on 07/27/2012 7:11:45 AM PDT by khelus
[ Post Reply | Private Reply | To 1 | View Replies]


Navigation: use the links below to view more comments.
first 1-2021-4041-48 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson