Posted on 11/16/2023 1:04:53 PM PST by central_va
POINTS
Gross domestic product, a measure of all goods and services produced in the U.S., rose at a 4.9% annualized pace in the third quarter, ahead of the 4.7% estimate.
The sharp increase came due to contributions from consumer spending, increased inventories, exports, residential investment and government spending.
While the report could give the Fed some impetus to keep policy tight, traders were still pricing in no chance of an interest rate hike when the central bank meets next week.
(Excerpt) Read more at cnbc.com ...
Not really. Excess Federal deficit spending has got to boost something.
BULL FREAKING CRAP.NO ONE BELIVES THIS,@
Oh yeah, that increased government spending part.
Inflation and wasteful government spending masking as productivity.
Me too. I bet this inflated GDP figure is just a talking point for Biden. It will be corrected and down graded in a foot note next month.
Since government spending is included in the number huge deficits are good news!
Welcome to clown world.
;-)
Government spending is very productive if I am getting paid.
It is only wasteful if they are paying you.
;-)
It’s on the backs of government deficient spending, and probably smaller thsn inflation…..
With 13% inflation that’s 7.9% loss in monetary equal products,
Biteme is killing it¿
They will roll it back next month and the correction will barely make the news.
I still have that bridge in Long Beach for sale, any takers?
Precisely. People know things are worse.
Wal-mart has already warned about a dead shopping season, so yeah . . .
Easy to believe when you account for Biden’s government deficit spending on contracts. Probably isn’t this high of a growth but there had better be some growth considering how he’s on his way to making the dollar irrelevant.
All of these things ARE going on:
“The sharp increase came due to contributions from consumer spending, increased inventories, exports, residential investment and government spending.”
The estimate was 4.7%, actual was 4.9%, the revision will be? No one knows. You have to get inside that paragraph and break it down. Consumer spending, yes it’s been good but it seems to be peaking and may well head down after Christmas. “Increased inventories” may look like value in the books, but could be bad news if consumption is about to fall from its peak. ‘Exports’, been steady. ‘Govt spending’, well duh, another shot of adrenaline, just part of the permanent landscape now. The other thing is, publicly traded companies are making decent earnings in general though again, most everything is peaking I think.
Yeah, yeah, yeah, and next month it will be quietly ‘revised’ downward to 1.9% for this month.
You shouldn't: the GDP figures include all that government deficit spending as "growth."
Audit any economic data from the Biden regime.
“You shouldn’t: the GDP figures include all that government deficit spending as “growth.”
Exactly, and that’s the correct way to show it.
GDP isn’t about what growth costs, only whether it happens, and injections of money cause growth. You can be going right down the drain with a positive GDP. Temporarily.
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