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Keyword: gdp

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  • Michigan Has Third Largest GDP Growth Since Recession

    07/07/2015 9:09:08 AM PDT · by MichCapCon · 2 replies
    Michigan Capitol Confidential ^ | 7/5/2015 | Tom Gantert
    Michigan has achieved another economic milestone on the road to establishing a reputation as the comeback state. From 2009 to 2014, the state experienced the third-highest percentage increase in state gross domestic product (GDP). The state was surpassed by just two states, both with heavy exposure to a national oil drilling boom. A widely used measure of the size of an economy, GDP is defined as the monetary value of all the finished goods and services produced within a state or nation during a specific period of time. Michigan’s GDP has expanded 13.8 percent from 2009 to 2014. This far...
  • Politico Editor: Falling GDP Is Good

    06/26/2015 11:57:14 AM PDT · by PJ-Comix · 4 replies
    NewsBusters ^ | June 26, 2015 | P.J. Gladnick
    We have always been at war with Eastasia. ---Ministry of Truth, 1984. Falling GDP is good. It has always been good. And now that GDP has fallen in the first quarter and economic prospects don't look good for the near future, Politico's contributing editor, Zacary Karabell has discovered that falling GDP is good. In fact the title of this directive issued from the Politico Ministry of Truth flat out tells us that GDP’s Going Down? That’s Good!
  • Canada GDP unexpectedly shrinks in first quarter

    05/29/2015 7:43:46 AM PDT · by Oldeconomybuyer · 22 replies
    Market Watch ^ | May 29, 2015 | By Paul Vieira
    OTTAWA--The Canadian economy shrank in the first quarter, posting its worst three-month performance in the post-crisis era, as business investment plunged in response to the decline in crude prices. Canada's gross domestic product declined 0.6% on an annualized basis in the first quarter, to 1.762 trillion Canadian dollars ($1.416 trillion), Statistics Canada said Friday. Market expectations were for 0.3% advance in the January-to-March period, according to a report from Royal Bank of Canada.
  • US ECONOMY SHRANK AT 0.7 PERCENT RATE IN FIRST QUARTER

    05/29/2015 5:47:11 AM PDT · by tellw · 117 replies
    AP ^ | 5/29/2015 | MARTIN CRUTSINGER
    WASHINGTON (AP) -- The U.S. economy went into reverse in the first three months of this year as a severe winter and a widening trade deficit took a harsher toll than initially estimated. The Commerce Department says the overall economy as measured by the gross domestic product contracted at an annual rate of 0.7 percent in the January-March period. The revised figure, even weaker than the government's initial estimate of a 0.2 percent growth rate, reflects a bigger trade gap and slower consumer spending. It marked the first decline since a 2.1 percent contraction in the first three months of...
  • This Is How You "Boost" GDP: US Sells Over $4 Billion In Weapons To Israel, Iran And Saudi Arabia

    05/22/2015 8:42:03 AM PDT · by SeekAndFind · 11 replies
    Zero Hedge ^ | 05/22/2015 | Tyler Durden
    War, what's it good for? Aside from countless deaths of innocent civilians of course, it means a GDP boost for the biggest exporter of weapons on earth, the United States, and even more profits for the US military-industrial complex. Profits which mean the shareholders of America's arms manufacturers get even richer. Which is why following months of middle-eastern sabre ratling and numerous quasi-wars already raging in the region, moments ago the U.S. State Department approved the sale of 10 MH-60R Seahawk helicopters to Saudi Arabia for $1.9 billion, the first step in "a major multibillion-dollar modernization of the Saudi...
  • The US Is In Recession According To These 7 Charts

    05/13/2015 8:23:50 AM PDT · by SeekAndFind · 17 replies
    Zero Hedge ^ | 05/13/2015 | Tyler Durden
    The evidence continues to mount..."Most since Lehman" has become the new meme for macro-economic data in the US as day after day brings another lacklustre superlative to be dismissed with some excuse by the cognoscenti of sell-side economists...  Of course, that is aside from anything related to aggregate jobs that is spewed by the government's official ministries of truth... (do not look at this chart)*  *  *So here are seven charts that scream "recession" is here...Retail Sales are weak - extremely weak. Retail Sales have not dropped this much YoY outside of a recession... And if Retail Sales are weak, then...
  • Actually, the US economy just shrank [Negative growth]

    05/05/2015 7:22:27 AM PDT · by SeekAndFind · 26 replies
    Business Insider ^ | 05/05/2015 | AKIN OYEDELE
    It turns out the US economy may have contracted in the first quarter. Last week, we learned that gross domestic product grew by just 0.2% in the first quarter, far below the 1% economists had expected. Then on Tuesday, the Commerce Department reported that the trade deficit in March exploded to a six-year high, $51.4 billion. The surge in the deficit — the gap between imports and exports — has been largely blamed on the nine-month slowdown at West Coast ports, which has been resolved. The slowdown and strike over a labor dispute limited the flow of goods through some...
  • Illusions of Freedom

    05/01/2015 5:44:33 PM PDT · by Sean_Anthony
    Canada Free Press ^ | 05/01/15 | Sierra Rayne
    The notion that there is a threshold above which authoritarian nations would democratize is attractive, but our experience since the end of the Cold War suggests this view is too simplistic and results in a risky foreign policy stance for the West A narrative has dominated the West’s foreign policy since the end of the Cold War: if we increase per capita GDP in authoritarian nations, they will democratize. Most notably, this doctrine was applied to China, and yet China failed to move away from its authoritarian system. Russia has gotten wealthier and returned to authoritarianism. Both nations used the...
  • The people who nailed the horrific Q1 GDP number have bad news about Q2

    04/30/2015 11:13:21 AM PDT · by SeekAndFind · 21 replies
    Business Insider ^ | 04/30/2015 | AKIN OYEDELE
    The Atlanta Fed nailed US Gross Domestic Product in the first quarter. On Wednesday, we learned that the US economy grew by just 0.2%, far below the consensus forecast for 1% growth among economists. Of the 86 economists surveyed by Bloomberg, only four estimated that GDP growth would be 0.2% or lower. The Atlanta Fed had long forecast 0.2% growth before revising it down to 0.1% after last Friday's durable goods report. And just a day after the disappointing Q1 GDP release, the Atlanta Fed has news about Q2: the economy will grow by just 0.9%, according to their latest...
  • Once Again, Economists Promise Strong Growth After A Lousy Q1

    04/30/2015 3:41:23 AM PDT · by IBD editorial writer · 62 replies
    Investor's Business Daily ^ | 04/29/2015 | John Merline
    When the 0.2% GDP growth number came out on Wednesday, economists were quick to emphasize that it was just a temporary blip. [snip] Such words would be comforting indeed if it weren't the fifth April out of the past six that economists made almost the exact same claim
  • Why America Doesn’t Grow

    04/29/2015 11:09:25 AM PDT · by SeekAndFind · 22 replies
    Townhall ^ | 04/29/2015 | Peter Morici
    In this century, economic growth has averaged 1.9 percent per year—down from the 3.4 percent the prior two decades—and anemic growth is a major force squeezing wages, the middle class and working poor. Conservatives and liberals blame too much or too little government. Either way, getting policy right is critical to restoring opportunity for everyone. Here are four issues that will be tough to solve but warrant serious attention. 1. The Baby Drought The birth rate predictably fell during the recent recession but has not recovered. At 948 children per 1000 women, fertility is below what is necessary to maintain...
  • Slouching into stagnation – advance read of 1st-quarter GDP +0.2% [The usual suspects blamed]

    04/29/2015 10:16:22 AM PDT · by SeekAndFind · 17 replies
    Hotair ^ | 04/29/2015 | Steve Eggleston
    The economic experts had anticipated the slowdown of the US economy to continue in the first quarter of 2015, after the 5.0% annualized real GDP growth in the 3rd quarter of 2014 slipped to 2.2% growth in the 4th quarter, with the consensus being +1.0% growth this past quarter. The bad news – it slowed down to 0.2%: Real gross domestic product — the value of the production of goods and services in the United States, adjusted for price changes — increased at an annual rate of 0.2 percent in the first quarter of 2015, according to the “advance”...
  • Biggest Inventory Build In History Prevents Total Collapse Of The US Economy

    04/29/2015 8:22:01 AM PDT · by SeekAndFind · 36 replies
    Zero Hedge ^ | 04/29/2015 | Tyler Durden
    While we already observed that in Q1, US GDP rose by an appalling 0.2%, far, far below the consensus Wall Street estimate (in case you missed it, here again is the one thing every Wall Street economist desperately needs) and precisely in line with the Atlanta Fed forecast which we brought attention to in early March, confirming yet again that US stocks no longer reflect any fundamentals but merely Fed and global liquidity injections, there is something far more disturbing under the surface of today's GDP report. Inventories.Specifically, the $121.9 billion increase in private, mostly nonfarm, inventories in the...
  • Economists React to the Pathetic 2015 First-Quarter GDP Report: ‘That Was Pretty Ugly’

    04/29/2015 7:11:09 AM PDT · by SeekAndFind · 25 replies
    Wall Street Journal ^ | 04/29/2015 | Sarah Portlock
    The U.S. economy all but ground to a halt in the first quarter this year, with businesses cutting investment, consumers pulling back spending and exports falling. Gross domestic product, the broadest measure of goods and services produced across the economy, expanded at a 0.2% seasonally adjusted annual rate, well below economists’ expectations of 1%. Economists on Wednesday weighed in:“In an entirely unsurprising turn of events, first quarter GDP was weaker than expected, growing just 0.2% as compared to the 1.0% rate expected. To repeat a refrain of ours, weakness in the first-quarter GDP report is not exclusive to 2015; we’ve...
  • From 1st Quarter (zero GDP or what?) to Q2 (sell in May or buy?)--Investor Thread May 5, 2015

    04/04/2015 1:03:19 PM PDT · by expat_panama · 56 replies
    Weekly investment & finance thread ^ | April 5, 2015 | Freeper Investors
      YTD  --January, February, and March 2015:   Looking ahead  --April, May, and June 2015:    Hope everyone enjoyed their first quarter!  Not bad --not only have both gold and the S&P500 come out positive but the NASDAQ punched above 3% (annualized to more than 14%) but silver's come out 6% ahead -a 26% rate/year.  Market prices are great the way we can follow up-to-the-second reports, but for stats on the general economy we'll have to wait until the folks who're paid for being smarter than us are ready to make up their minds.  What we got so far is that...
  • Federal Reserve Branch Downgrades Projected GDP Growth to 0%

    04/02/2015 10:23:48 AM PDT · by therightliveswithus · 15 replies
    The Pundit Press ^ | 4/2/2015 | Thomas
    The Atlanta Federal Reserve Bank appears to be betting against the American economy. The branch believes that the national economic growth rate has fallen dramatically. Blaming the downgrade on issues such as harsh weather, the projected growth rate has been slashed several times already, now down to zero. First quarter growth has slipped from an already anemic near 2.0% continually down. This comes as Americans have more money to spend from falling gas prices. Many factors are going into the decision, which mirrors similar moves during previous winters. The Fed believes that much of the slowdown is due to the...
  • It's Official: Fed Sees 0.0% GDP Growth In The First Quarter (NO April fools Joke)

    04/01/2015 3:22:58 PM PDT · by Perdogg · 33 replies
    zero hedge ^ | 04.01.2015
    Following this morning's construction spending release from the U.S. Census Bureau, the nowcast for real residential investment growth increased from -1.1 percent to 1.8 percent. This was more than offset by declines in the nowcasts for real nonresidential structures investment growth (-19.3 percent to -22.5 percent) and real state and local government spending growth (0.3 percent to -0.8 percent).
  • Compare current president and past presidents using federal government economic data.

    03/08/2015 9:27:20 PM PDT · by WilliamofCarmichael · 18 replies
    Federal government agencies ^ | Marrch 8, 2015 | WilliamofCarmichael
    The table that I assembled is in response to vague references that we see and hear like "the BLS said", "the WSJ said", "radio/TV/Blog/column said" . . . the table has links directly to the original data. It's too large to post repeatedly on threads though I do hope to keep it current quarterly (with annualized data) until Election 2016. And change/add columns as needed.
  • Mongolia's rapid growth masks its vulnerability {grows at 17% in H1 2011}

    08/31/2011 3:16:55 AM PDT · by Cronos · 6 replies
    Finance Asia ^ | 30 Aug 2011 | Rupert Walker
    While fears have mounted about a double-dip recession in the US and Europe, Mongolia’s small, open economy grew a staggering 17.3% year-on-year during the first half of 2011, according to a World Bank report released late last week. The country’s booming copper and coal mining industry is driving the economy, but at the same time makes it vulnerable to a global downturn. Mining comprises 22% of overall GDP and the sector expanded 40% in 2010, despite continued political controversy about how best to exploit the natural riches held in the two vast mining complexes of Oyu Tolgoi (copper) and Tavan...
  • "NowCast" Shows GDP Crumbling

    03/01/2015 3:49:50 PM PST · by Kaslin · 29 replies
    Townhall.com ^ | March 1, 2015 | Mike Shedlock
    In the wake of existing home sales reports on Monday, and new home sales yesterday, GDP and residential investment forecasts came tumbling down. Check out the latest "GDP Nowcast" from the Atlanta Fed. "The GDPNow model forecast for real GDP growth (seasonally adjusted annual rate) in the first quarter of 2015 was 1.7 percent on February 26, down from 1.9 percent on February 18. The first-quarter nowcast for real residential investment growth fell from 11.1 percent to 2.3 percent following Monday's existing-home sales release from the National Association of Realtors and yesterday morning's releases on sales and construction costs of...
  • Another Recession is on the way

    02/28/2015 9:43:53 AM PST · by Kaslin · 22 replies
    Townhall.com ^ | February 28, 2015 | Mike Shedlock
    In 2006-2007 I called for a recession. We got a big one. I called for another one in 2011, as did the ECRI. That recession never happened. 50% is not a very good recession predicting track record except in comparison to consensus economic opinions that have never once in history predicted a recession. Consensus opinion is batting a perfect 0.00% Investigating the Record By the way, the ECRI was late in calling the recession of 2007. They still deny it. And questions regarding the 2001 recession and ECRI have still not been answered. I have talked about all of this...
  • Philippine GDP growth to outpace China's from 2016 as Asia's fastest growing economy

    02/27/2015 10:35:04 AM PST · by SeekAndFind · 5 replies
    Economic growth in the Philippines will overtake China's by 2016 as the former country continues to be an outperformer due to a strong domestic upswing in businesses and industry, growing foreign direct investments and record-high remittances from Filipinos working abroad, according to GDP forecasts in the recently released "2015 Annual Outlook" by Citibank. In turn, China, long time among the fastest growing countries in Asia and worldwide, is cooling down its economy to make GDP growth "more sustainable" as it is suffering from high public debt, reduced domestic consumption, over-investment in housing and infrastructure and regional economic imbalances. China will...
  • Q4 GDP Revised Down To 2.2% From 5.0%: Full Breakdown

    02/27/2015 9:04:29 AM PST · by Kartographer · 15 replies
    Zerohedge ^ | 2/27/15 | Tyler Durden
    There was much hope that when Q3 GDP soared to 5%, primarily on the back of Obamacare spending recalendarization and a massive consumption/personal saving data revision, that the US economy would finally enter lift-off mode. Those hopes were reduced by about 60% when moments ago the BEA announced that Q4 GDP was revised from the original 2.64% print to only 2.18%, which while better than expected, was the lowest economic growth rate since the "polar vortex."
  • This Is The Biggest Problem Facing The World Today: 9 Countries Have Debt-To-GDP Over 300%

    02/23/2015 10:38:43 AM PST · by Enlightened1 · 13 replies
    Zero Hedge ^ | 2/23/15 | Tyler Durden
    If anyone has stopped to ask just why global central banks are in such a rush to create inflation (but only controlled inflation, not runaway hyperinflation... of course when they fail with the "controlled" part the money paradrop is only a matter of time) over the past 5 years, and have printed over $12 trillion in credit-money since Lehman, the bulk of which has ended up in the stock market, and which for the first time ever are about to monetize all global sovereign debt issuance in 2015, the answer is simple, and can be seen on the chart below....
  • Economists Need Field Trip

    02/18/2015 8:38:21 AM PST · by Academiadotorg · 2 replies
    Accuracy in Academia ^ | February 14, 2015 | Malcolm A. Kline
    At least one economist gets off campus frequently enough to see what the real economy looks like and, naturally, he’s a free market type. Perhaps he should take his colleagues on a field trip. “American businesses spend almost $2 trillion per year (or roughly another 10 percent of GDP [Gross Domestic Product]) complying with regulations, including the 79,311 pages of the 2013 Federal Register,” Nikolai G. Wenzel, a visiting assistant professor of economics at Florida Gulf Coast University, said at a Fund for American Studies conference last November. “Think for a moment that the Declaration of Independence adds up to...
  • China's COSCO Dis-Assembles 8 Ships Amid Glut As Baltic Dry Hits Another Record Low

    02/16/2015 2:47:44 PM PST · by blam · 13 replies
    Zero Hedge ^ | 2-16-2015 | Tyler Durden
    Tyler Durden 02/16/2015 You know things are bad in the ship-building business when... amid considerably larger than expected losses, China's COSCO announced that it has dis-assembled 8 vessels in January alone (including 3 bulk carriers) and will be decommissioning and disposing of them as it awaits a "more conducive" environment. It appears that is not coming anytime soon, as The Baltic Dry Index just hit 522 - a new all-time low (down a stunning 53 of the last 55 days). As COSCO explains in its HKSE Statement:(snip)
  • Moody's Say's cheaper Oil WILL NOT boost global growth...

    02/12/2015 10:25:53 AM PST · by alexmark1917 · 25 replies
    Moody's Say's Cheaper Oil WILL NOT Boost Global Growth... What have I been saying all along... Someone should tell the morons at CNBC... Lower oil prices will fail to give a "significant boost" to global growth in the next two years, Moody's has said. The ratings agency said any boost from cheaper oil would be offset by the eurozone's economic woes as well as slowdowns in China, Japan and Russia. As a result, Moody's said it would not be revising its growth forecasts for the G20 countries. "For the G20 economies, we expect GDP growth of just under 3% each...
  • Defining Economic Failure Down: We’re coming to accept a weaker economy as the new normal.

    02/05/2015 8:42:10 AM PST · by SeekAndFind · 6 replies
    National Review ^ | 02/05/2015 | George Will
    Two phrases that Daniel Patrick Moynihan put into America’s political lexicon two decades ago are increasingly pertinent. They explain the insufficient dismay about recent economic numbers. Moynihan said that when deviant behaviors — e.g., violent crime, or births to unmarried women — reach a certain level, society soothes itself by “defining deviancy down.” It de-stigmatizes the behaviors by declaring them normal. And sometimes, Moynihan said, social problems are the result of “iatrogenic government.” In medicine, an iatrogenic ailment is inadvertently induced by a physician or medicine; in social policy, iatrogenic problems are caused by government. When the economy grew by...
  • US Economic Growth Slows in Q4, 2014 to 2.6%

    01/30/2015 12:33:51 PM PST · by SeekAndFind · 9 replies
    iStockAnalyst ^ | 01/30/2015
    US GDP growth fell short of expectations in last year's fourth quarter, the government reports. National output increased 2.6% in the final three months of 2014 vs. the previous quarter (seasonally adjusted annual rate). The consensus forecast was looking for something better—a 3.2% rise, according to Econoday.com's survey of economists. The soft number for headline growth in Q4 is a bit surprising when you look at the statistical elephant in the room, namely, consumer spending, which accounts for nearly 70% of GDP. Personal consumption expenditures accelerated to a 4.3% pace in the fourth quarter, a handsome improvement over Q3's...
  • December Jobs "Significantly Below 200,000", Q4 GDP Tumbles To 2%, Markit Warns

    01/06/2015 7:27:19 AM PST · by SeekAndFind · 14 replies
    Zero Hedge ^ | 01/06/2015 | Tyler Durden
    Markit's US Services PMI missed expectations of 53.7, priting at 53.3, its lowest since Feb 2014 (mid Polar Vortex). From record highs in June, PMI has plunged non-stop for six months leaving Markit noting Q4 growth is looking more like 2.0% than the 5.0% exuberance in Q3.US Services PMI plunges... and along with the tumble in manufacturing leaves the US Composite PMI at 14 month lows... It gets worse. From the report, via Chris Williamson, Chief Economist at Markit said:“The US economy lost significant growth momentum at the close of the year. Excluding the drop in activity caused by the October...
  • NYT Credits Big Government Spending for American Prosperity

    01/03/2015 8:18:51 AM PST · by Kaslin · 16 replies
    Townhall.com ^ | January 3, 2015 | Michael Schaus
    The folks over at the New York Times are keeping up their tradition of shilling for big government spending. In a recent column, the Times suggests that a recent uptick in government spending is creating prosperity, and boosting the economy. According to the Times: For a long stretch, government spending cutbacks at all levels were a substantial drag on economic growth. Now, finally, relief is in sight. For the first time since 2011, local, state and federal governments are providing a small but significant increase to prosperity.Yeah… Government is taking your money, spending it on redistributive welfare programs and special interest...
  • ABOUT THAT 5% GDP GROWTH RATE…

    12/26/2014 2:41:46 PM PST · by smoothsailing · 20 replies
    Power Line ^ | 12-26-2014 | John Hinderaker
    December 26, 2014 by John Hinderaker About that 5% GDP Growth Rate… Just before Christmas, the Commerce Department announced that third quarter GDP growth came in at an upwardly-revised 5% annual rate. Nearly everyone hailed this as wonderful economic news. The New York Times celebrated the apparent return to rapid growth: [H]ere, for the holidays, is the festive news: The economy roared ahead at a 5 percent annual growth rate in the July through September quarter, the fastest quarterly growth since 2003. …The biggest revision that boosted G.D.P. was in personal consumption spending, the biggest engine of overall economic activity,...
  • High GDP Numbers for Q3? We Can Thank Obamacare and Forced Consumer Spending

    12/25/2014 7:39:51 AM PST · by Son House · 25 replies
    Examiner.com ^ | December 23, 2014 | Kenneth Schortgen Jr
    The revision which helped create last quarters incredible growth was the forced mandatory costs incurred by the American people from the Affordable Care Act (Obamacare), which accounted for two-thirds of the entire boost in consumer spending. Consumer spending, as opposed to the recording of revenues from actual production and industry which used to be the primary components of economic growth in America, on average accounts for more than 70% of the entire Gross Domestic Product. And if you took out payments made by the American people towards mandatory government healthcare, GDP may have been in negative growth for last quarter,...
  • Obama Administration Tweaked the GDP Data [No, they wouldn't do that, would they?]

    12/25/2014 6:38:57 AM PST · by upchuck · 36 replies
    American Thinker ^ | Dec 25, 2014 | Howard Richman
    On December 23, the Bureau of Economic Analysis (BEA) of the Commerce Department issued its latest revision of U.S. economic growth for the third quarter period (July through September). According to the BEA, the U.S. economy grew at a 5.0% annual rate during that quarter. Unfortunately, the once honorable Bureau of Economic Analysis of the Census Bureau tweaked the quarterly GDP numbers in order to achieve the 5% growth rate. This tweaking was predicted by Tyler Durden of zerohedge.com.When Durden analyzed the final revision for the first quarter back on June 25 (Here's the reason for the total collapse in Q1...
  • US economy grows incredible 5%

    12/23/2014 11:57:30 AM PST · by SeekAndFind · 70 replies
    CNN Money ^ | 12/23/2014 | Matt Egan
    Evidence is mounting that the U.S. economy is kicking into high gear. Gross domestic product soared 5% on an annual basis in the third quarter, the government said on Tuesday. To put that in perspective, it's the strongest quarter of growth since 2003. "Other than the first quarter's weather-induced contraction, there's no doubt the economy has been great this year," said Dan Greenhaus, chief global strategist at BTIG. Investors cheered the news, sending the stock market to record highs with the Dow crossing 18,000 for the first time ever.
  • Here Is The Reason For The "Surge" In Q3 GDP (Obamacare)

    12/23/2014 11:51:20 AM PST · by GilGil · 22 replies
    ZeroHege ^ | 12/23/14 | Tyler Durden
    Fast forward to today when as every pundit is happy to report, the final estimate of Q3 GDP indeed rose by 5% (no really, just as we predicted), with a surge in personal consumption being the main driver of US growth in the June-September quarter. As noted before, between the second revision of the Q3 GDP number and its final print, Personal Consumption increased from 2.2% to 3.2% Q/Q, and ended up contributing 2.21% of the final 4.96% GDP amount, up from 1.51%. So what did Americans supposedly spend so much more on compared to the previous revision released one...
  • 5.0% GDP! (Happy Days)

    12/23/2014 6:43:10 AM PST · by blam · 53 replies
    BI ^ | 12-23-2014 | Sam Ro
    Sam Ro December 23, 2014America is just killing it. Q3 GDP growth was just revised up to 5.0% from last month's estimate of 3.9%. This is the fastest pace of growth since Q3 2003. This was also much stronger than the 4.3% expected by economists. "The increase in real GDP in the third quarter primarily reflected positive contributions from PCE, nonresidential fixed investment, federal government spending, exports, state and local government spending, and residential fixed investment. Imports, which are a subtraction in the calculation of GDP, decreased," the BEA said. Personal consumption growth was revised up to 3.2% from 2.2%....
  • China's Now The World Number One Economy And It Doesn't Matter A Darn

    12/08/2014 8:00:16 AM PST · by SeekAndFind · 17 replies
    Forbes ^ | 12/08/2014 | Tim Worstall
    There’s much worrywarting over the new figures from the IMF IMF telling us the fact that China is now the world’s number one economy in terms of size. The truth is though that, other than for collectors of statistical trivia, this really isn’t important. Perhaps on a par with wondering how Lady Gaga is going to dress next but no more than that. Because the whole idea of “an economy” as defined by the borders of a nation state is pretty arbitrary anyway and further, it matters a great deal more how many people that economy is spread over than...
  • China overtakes US to be world's #1 economy: First time since President Grant was in office

    12/05/2014 8:24:01 AM PST · by SeekAndFind · 19 replies
    American Thinker ^ | 12/05/2014 | Rick Moran
    According to figures published by the International Monetary Fund, China has surpassed the US in economic output of real goods and services - a measure widely accepted as a gauge of total economic activity. It's an esoteric measurement, but important because it ignores exchange rates: These calculations are based on a well-established and widely used economic measure known as purchasing-power parity (or PPP), which measures the actual output as opposed to fluctuations in exchange rates. So a Starbucks venti Frappucino served in Beijing counts the same as a venti Frappucino served in Minneapolis, regardless of what happens to be...
  • United States Government Debt to GDP 1940-2014 [dramatic increase under Obama]

    The United States recorded a Government Debt to GDP has risen dramatically and remains at peak levels since Obama took office. See chart in linked article. We have been running at roughly just over DOUBLE the GDP in debt.
  • Latin America Is Grinding To A Halt

    12/02/2014 9:06:50 PM PST · by blam · 28 replies
    BI ^ | 12-2-2014 | Paulina Abramovich
    Paulina Abramovich, AFP December 2, 2014Santiago (AFP) - Latin America's economies, hit by falling investment, will grow just 1.1 percent in 2014 -- their lowest level in five years, a UN commission on the region said Tuesday. The poor performance of several of Latin America's biggest economies dragged down growth across the region, found the United Nations Economic Commission for Latin America and the Caribbean (ECLAC). Argentina's economy will contract by 0.2 percent this year and Venezuela's by 3.0 percent, it said. Regional giant Brazil's will grow just 0.2 percent. The figures are the latest confirmation of the end of...
  • This Brilliant Map Renames Each US State With A Country Generating The Same GDP

    12/02/2014 12:40:50 PM PST · by SeekAndFind · 123 replies
    Business Insider ^ | February 12, 2014, 4:59 PM | STEVEN PERLBERG
    Here's a map from American Enterprise Institute's Mark Perry that puts America's $16 trillion economy in some global perspective. The map compares the GDP of U.S. states with other the national GDPs of other nations.
  • GOLDMAN: Here's The Worst-Case Scenario For Ebola (Business - Economy)

    10/17/2014 5:36:58 AM PDT · by blam · 10 replies
    BI ^ | 10-17-2014 | Sam Ro
    Sam Ro October 17, 2014The spread of the Ebola virus has been dominating headlines in recent weeks. While the ultimate death toll may be limited, the economic impact could potentially be significant. The "'fear factor' associated with Ebola appears more significant than in past instances of pandemic concern, in our view," Goldman Sachs' Kris Dawsey writes. Dawsey studied how other recent pandemic events ultimately played out in the US and Hong Kong. "Recent episodes of pandemic concern in the US — including SARS in 2003, bird flu (H5N1) in 2005, and swine flu (H1N1) in 2009 — resulted in little...
  • These 2 Charts Show Why The Economic Crisis Is Far From Over

    09/30/2014 6:34:45 AM PDT · by blam · 1 replies
    BI ^ | 9-30-2014 | Tomas Hirst
    Tomas Hirst September 30, 2014The hot debate in financial circles at the moment is exactly when the Fed (and/or the Bank of England) will start raising rates as the economic recovery picks up steam. However, the authors of the Geneva Report suggest talk of the crisis being over is seriously premature. Six years on from the financial crisis, people were expecting a global economy less reliant on debt financing and gradually moving back toward trend growth. According to Luigi Buttiglione, Philip Lane, Lucrezia Reichlin, and Vincent Reinhart, we instead have global debt-to-GDP breaking new highs and a permanent decline in...
  • Final Q2 GDP 4.6%, says Bureau of Economic Analysis [Best in two years]

    09/26/2014 11:11:15 AM PDT · by SeekAndFind · 9 replies
    Hotair ^ | 09/26/2014 | Ed Morrissey
    The previous estimates of economic growth in the second quarter turned out to be a shade too modest. The final estimate of second-quarter growth from the Bureau of Economic Analysis puts the annualized GDP increase at 4.6%, the best quarter in more than two years, and a sharp rebound from Q1′s -2.1%: Real gross domestic product — the output of goods and services produced by labor and property located in the United States — increased at an annual rate of 4.6 percent in the second quarter of 2014, according to the “third” estimate released by the Bureau of Economic...
  • Illegal activities boost Spain’s GDP by $11 bln

    09/25/2014 8:53:33 AM PDT · by Olog-hai · 5 replies
    Associated Press ^ | Sep 25, 2014 10:25 AM EDT
    Spain’s National Statistics Institute says money generated by drug trafficking, prostitution, smuggling and illegal gambling contributed some €9 billion ($11.4 billion) to the national economy last year. […] The figures are being included in GDP calculations on the recommendation of the European Union, which is trying to harmonize estimates across member states and get a full picture of economic activity, whether legal or not. …
  • Are High Housing Costs Restraining California's Growth?

    09/11/2014 6:57:48 AM PDT · by SeekAndFind · 32 replies
    RCM ^ | 09/11/2014 | Carson Bruno
    <p>It's no secret. California is expensive. But is it a little more nuanced than that; coastal California is very expensive while inland California is just moderately expensive. Yet, despite being a well-known fact, Sacramento doesn't appear too concerned with California's growing price tag even though there is evidence it could be slowing the Golden State's economic growth.</p>
  • U.S. GDP Grew 4.2% In The Second Quarter 2014, Up From Prior Estimate

    08/28/2014 8:30:21 AM PDT · by SeekAndFind · 31 replies
    Forbes ^ | 08/28/2014
    On Thursday, the Bureau of Economic Analysis released its second estimate of real gross domestic product for the second quarter of 2014 — covering April, May and June of this year. The release showed output in the U.S. increasing at an annual rate of 4.2%. This is relative to the first quarter when real GDP declined a sharp 2.1%. The revision is up marginally from BEA’s 4% advance estimate released last month. The revision, BEA said in a release, was largely due to a larger than previously estimated increase in nonresidential fixed investment. However, the increase in private inventory investment...
  • CBO revises estimate, warns U.S. economic growth will underwhelm in 2014

    08/27/2014 1:35:40 PM PDT · by SeekAndFind · 25 replies
    Hotair ^ | 08/27/2014 | Noah Rothman
    The Congressional Budget Office released a bit of a good news/bad news report on Wednesday regarding the state of the U.S. economy and federal budget. In the bad news column, CBO projected 2014’s GDP growth at just 1.5 percent. The report blamed this revision on “the surprising economic weakness in the first half of the year.” In early June, the International Monetary Fund projected the United States to grow by just 2 percent this year, revising its own estimate down from a previously anticipated 2.7 percent GDP expansion. This report is not likely to be warmly greeted by the...
  • CBO forecasts $506 billion budget deficit for 2014 (1.5% GDP)

    08/27/2014 7:41:15 AM PDT · by Oldeconomybuyer · 10 replies
    Market Watch ^ | August 27, 2014 | By Robert Schroeder
    The Congressional Budget Office on Wednesday raised its estimate of the federal government’s budget deficit for the current fiscal year as it slashed its growth forecast, and warned red ink was due to rise in coming years if Washington doesn’t change current laws. In an update of budget and economic projections for 2014 to 2024, the nonpartisan CBO said the U.S. government’s deficit for fiscal 2014 will be $506 billion, or 2.9% of gross domestic product. The new estimate is $14 billion more than the agency’s prior estimate for the year, issued in April. The agency lowered its projection of...