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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
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To: Sam Gamgee
Shadow statistics is a great site. I think the manipulation of the GDP figures by understating inflation began with Johnson.

Yes it is. Back to Johnson wouldn't surprise me at all.
41 posted on 07/27/2012 11:10:08 AM PDT by khelus
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To: khelus

Yeah Obama prints so much money that soon a gallon of milk will cost a million dollars and so then they’ll call this consumer spending growth(GDP) and say that we are growing so much and that we are all millionaires. Yeah when an apartment costs a billion $ to rent , bread costs a milion $ .so inflation is called growth. Amazing these liars get away with it.


42 posted on 07/27/2012 12:03:40 PM PDT by rurgan (Sunset all laws at 4 years.China is destroying U.S. ability to manufacture,makes everything)
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To: Sam Gamgee

” - - - began with Johnson.”

Johnson, Johnson - - - ? Do you mean “Great Society” Johnson?

THAT Johnson? The LB Johnson and renowned “Credibility Gap” Johnson?

The Johnson who sold America down the river with his creation of Medi”care?”

The Johnson who declared a “War On Poverty?”

BTW, I heard on Fox yesterday that after 15 TRILLION dollars have been spent on LBJ’s “War on Poverty” there are more people in poverty in the USA than before the War on Poverty began.

Yeah, I remember that Johnson - - - .


43 posted on 07/27/2012 12:42:52 PM PDT by Graewoulf ((Traitor John Roberts' Obama"care" violates Sherman Anti-Trust Law, AND the U.S. Constitution.))
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To: khelus

These charts/graphs are even better! Thanks!


44 posted on 07/27/2012 12:45:53 PM PDT by Graewoulf ((Traitor John Roberts' Obama"care" violates Sherman Anti-Trust Law, AND the U.S. Constitution.))
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To: kristinn
I see they wait until the final paragraph to mention that the 2009 GDP contraction (or what the libs call the near-economic collapse) wasn't as bad as initially reported.

I guess that means maybe Obama didn't really bring the U.S. economy from the brink after all! /s

45 posted on 07/27/2012 2:31:31 PM PDT by mellow velo (Oxymorons: jumbo shrimp, rap music, liberal think-tank)
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To: PA-RIVER

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.

Why stop at 57? :)


46 posted on 07/27/2012 3:46:38 PM PDT by 1035rep
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To: kristinn

Will continuing to follow the “We’re moving in the right direction” Obamaidiot-Cloward and Piven-failboat road lead to an America that lives in economic destructive hell? I see the real answer more and more each day, each, week, each month.....=.=


47 posted on 07/27/2012 8:37:23 PM PDT by cranked
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Comment #48 Removed by Moderator


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