Skip to comments.4th Quarter GDP Estimate Reduced to .8% from 1.5%
Posted on 01/14/2013 5:44:49 AM PST by KaslinEdited on 01/14/2013 5:46:08 AM PST by Admin Moderator. [history]
Holiday sales of electronics and toys plunged this past Christmas season. Also of note, JPMorgan lowered its annualized 4th quarter GDP estimates down to .8% from 1.5%. Nonetheless, analysts see a silver lining to the data. They always do.
Toys R Us reported a key sales figure declined in November and December, hurt by weak demand for videogames, electronics and toys and shoppers who pulled back because of Superstorm Sandy.
(Excerpt) Read more at finance.townhall.com ...
The media at all levels is pushing the BIG COMEBACK of 2013, yet the facts show something completely different. The reelection of Obama sent shockwaves into the tepid economy.
Your post of unexpected was unexpected.
The American news media is a parody of itself. They make soviet era TASS look trustworthy.
The cycle of hype for the next quarter, inflated initial numbers and unexpected downward revision continues. Rinse and repeat.
Is it Recovery Summer yet?
“....and shoppers who pulled back because of Superstorm Sandy.”
How do they keep a straight face when they write this stuff? Maybe they really do think the world is limited to the East Coast.
Do they factor in inflation when computing this .8% number?If they didn’t,then we’re into negative numbers.Almost sounds like a recession to me.
“””Do they factor in inflation when computing this .8% number?If they didnt,then were into negative numbers.Almost sounds like a recession to me.”””
Recession??? I don’t think so. Rainbows and unicorns, green lights and blue skies. Just watch the “news” and you will find out how great we are doing. /s
hurt by weak demand for videogames, electronics and toys and shoppers who pulled back because of Superstorm Sandy.****
It may not have been a hurricane but it sure did have super powers. Now it’s messin’ with the videogamers and kiddos who were so freaked out they won’t even play with their toys.
Maybe the storm just made kids think what was important in life, like getting the maximum score in "Super BloodFest VII" rather than whining that they will die if they don't get "Super BloodFest VIII" when the stores opens at midnight to sell it.
The economy is going to sink back into the toilet in 2013 and somehow it will be the Republicans’ fault.
Not until we get through Recovery Winter III and Recovery Spring III.
That is what the administration has been doing all along
Every friggin' year we're hearing this. Remember Biden the Slow's claims of a "Recovery Summer" a couple years ago?
Sandy...flu...what will be blamed next to distract from the real problem which is money being sucked out of the private sector to fund an ever expanding government behemoth.
I saw some on a “news” program last night complaining about robots. That’s why obama’s economic plans are failing: robots taking jobs. Low information voters indeed.