Posted on 08/27/2015 9:53:55 AM PDT by lowbridge
The U.S. economy looks much more vigorous in the second quarter than previously thought, as a report released Thursday showed businesses got off the sidelines and spent some money.
The acceleration in business investment, if it’s sustained, could add to the economy’s momentum in the months ahead. The data show why the Federal Reserve is considering hiking interest rates at its next meeting in September.
The U.S. economy grew at a faster 3.7% annual pace in the second quarter, up from the initial estimate of growth at a 2.3% clip, the Commerce Department said Thursday.
Economists polled by MarketWatch forecast gross domestic product would be revised up to 3.3%, but business investment was stronger than expected. The government estimated last month that gross domestic product expanded at a seasonally adjusted 2.3% clip from April to June.
U.S. stocks, which have gyrated over the concerns about China’s economy, climbed on Thursday.
Consumer spending, the main driver of U.S. economic activity, led the way as usual. Outlays were revised up to 3.1% from 2.9% in the second quarter after a tepid 1.8% gain in the first three months of the year.
What’s more, newly revised figures from the Commerce Department show that businesses invested at an even faster rate.
Businesses increased investment by 3.2% increase of a drop of 0.6%, with spending on structures such as office buildings rising by 3.1% instead of a drop of 1.6%.
(Excerpt) Read more at marketwatch.com ...
What’s an upward revision .... creative bookkeeping ?
“How about a magic trick?” - the Joker
If the GDP is really growing at over 3% wouldn’t the Fed raise interest rates above 0? Yesterday the stock market was celebrating rumors that the Fed will not be raising interest rates. These are contradictory scenarios. Which one is correct. I bet the GDP growth number is phony, again.
Lies from the lying White House liars. Just imagine the real growth if the labor force participation rate wasn’t down 93 million.
The whole world economy is about to tank...
QUICK! revise the numbers!!!
Outta thin air. Just in time to stop the falling markets. Hmmm........
It’s another Obama miracle!
Ninety million able bodied U. S. Citizens raise their head for a moment, just long enough to let this sink in.
Then they lower them again, slowly shaking them from side to side.
What kind of a sick mind, would perpetrate this on their fellow citizens?
So, the FED doesn’t have to hike rates-what a shock!
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