Posted on 05/15/2015 8:44:52 AM PDT by Theoria
The U.S. economy had a really bad March, the worst since the financial crisis. But don’t panic.
The broadest gauge of U.S. economic output, from the Commerce Department, tracks the economy on a quarterly basis. The private forecasting firm Macroeconomic Advisers provides a measure to track gross domestic product on a monthly basis, highlighting some of the volatility that gets smoothed out in the official quarterly figures.
Macroeconomic Advisers on Thursday said its monthly estimate showed GDP fell an inflation-adjusted 1% in March, the largest drop since December 2008, “when the U.S. economy was in the throes of recession,” the firm said. Monthly GDP had climbed 0.3% in February and ticked up 0.1% in January after falling 0.4% in December, the firm said.
The key reason not to worry too much: The contraction reflected a drop in net exports related to the resolution of a labor dispute at West Coast ports, the firm said.
“Because the decline in monthly GDP was driven by a surge in imports that was probably unrelated to current production, we are suspicious of it and believe it overstates the underlying weakness in the economy,” Macroeconomic Advisers said in a note to clients.
The Commerce Department’s initial estimate of first-quarter GDP pegged growth at a 0.2% seasonally adjusted annual pace. An updated figure due out May 29 is expected to show the economy actually contracted.
(Excerpt) Read more at blogs.wsj.com ...
Its change. Rejoice.
Was bad weather to blame?
Recovery Summer Vi.
I don’t listen to economic forecasts anymore. The “experts” always say the same thing, that this coming month is going to be better, more jobs, more cash flow, yada yada yada. Whatever. It’s like the climate change scientists always saying that the climate is going to get hotter.
Winston Smith
PS: The chocolate ration has been increased again.
I guess that’s why the media is pouring out those “Everything is looking up” stories.
Everything is fine. Do not adjust the horizontal. Do not adjust the vertical.
Relax, and for a time (countdown to Jan 2017), relax and enjoy the diversion into the......................Twilight Zone.
since?
Their goal is to get us to give up on the Capitalist system in general. Seems to be working with the young people.
Have they restored the import tariffs yet? No
Are imports still increasing? Yes
Are jobs still going overseas? Yes
Why am I not surprised?
Blaming on the port strike on the west coast. Yeah.
“The key reason not to worry too much: The contraction reflected a drop in net exports related to the resolution of a labor dispute at West Coast ports.”
It was the Snowstorm’s fault!!!
So, you prefer depression to recession.
Got it.
“The key reason not to worry too much: The contraction reflected a drop in net exports related to the resolution of a labor dispute at West Coast ports, the firm said.”
I have a real difficult time believing that our whole economy is based on a labor dispute at West Coast ports.
I think this guy is grubering us.
Sometimes I feel that I'm living in a Rand/Orwell novel.
5.56mm
I’m not worried:
Unemployment is way down - just read the reports from the Obama Administration.
The federal deficit is way down - just read the reports from the Obama Administration.
Health care is way better - just read the reports from the Obama Administration.
The world is full of unicorns and Skittles, and everything is perfect except for those bitter racist clingers.
He's definitely a Clymer, no doubt.
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.