ABOUT THAT 5% GDP GROWTH RATE…

Power Line ^ | 12-26-2014 | John Hinderaker

[WilliamofCarmichael]

Personal Consumption increased from 2.2% to 3.2% Q/Q, and ended up contributing 2.21% of the final 4.96%

See that weak 2.21% Personal Consumption below and a comparison to other presidents.

US Department of Commerce, Bureau of Economic Analysis (BEA)

Gross Domestic Product (GDP) If you are not at Gross Domestic Product (GDP) search for it. It should be on page http://www.bea.gov/national/index.htm.

Then click on

• "Interactive Tables: GDP and the National Income and Product Account (NIPA) Historical Tables"; that page should be
• National Data GDP & Personal Income;
• click on "Begin using the data"; that page should be
• National Data National Income and Product Accounts Tables; click on Advanced Download Section; that page should be
• Download NIPA Tables and it is where you can download series of tables.

I did not know which tables to look for so I chose to download them all in csv format. I clicked on Section 1 (2852.7k)

This is the table I used.

Table 1.1.2. Contributions to Percent Change in Real Gross Domestic Product ; Seasonally adjusted at annual rates Quarterly data from 1969 To 2014 Bureau of Economic Analysis Data published December 23, 2014.

The percentages are annual.

You have to convert that five percent third quarter 2014 GDP rate that MSM employees are cooing about to a quarterly rate. So for example one method I found on the Internet is to

• compute (5/100)+1 = 1.05; then
• compute 1.05^0.25 -1 = 0.012272234.

.

So it's a quarterly 1.2% that the MSM employees are going wild about and cheering their 'bama.

The following is my contribution (it was not presented this way by BEA):

Two term presidents best GDP. Year and quater. Reagan, Clinton, Bush, Obama.

Line	1983	1996	2003	2014
	2	2	3	3
	9.4	7.2	6.9	5
02 Personal consumption expenditures DPCERY2	5.06	2.88	4.04	2.21
03 ..Goods DGDSRY2	3.17	1.87	2.68	1.06
04 ....Durable goods DDURRY2	2.27	1.07	1.58	0.67
05 ....Nondurable goods DNDGRY2	0.9	0.8	1.1	0.39
06 ..Services DSERRY2	1.89	1.01	1.35	1.15
07 Gross private domestic investment A006RY2	5.96	3.39	2.51	1.18
08 ..Fixed investment A007RY2	2.53	2.13	2.2	1.21
09 ....Nonresidential A008RY2	0.67	1.36	0.95	1.1
10 ......Structures A009RY2	-0.86	0.24	-0.04	0.14
11 ......Equipment Y033RY2	1.24	0.79	0.67	0.63
12 ......Intellectual property products Y001RY2	0.29	0.33	0.32	0.34
13 ....Residential A011RY2	1.86	0.77	1.25	0.1
14 ..Change in private inventories A014RY2	3.43	1.26	0.31	-0.03
15 Net exports of goods and services A019RY2	-2.46	-0.33	0.3	0.78
16 ..Exports A020RY2	0.11	0.73	0.96	0.61
17 ....Goods A253RY2	-0.15	0.41	0.54	0.69
18 ....Services A646RY2	0.26	0.32	0.42	-0.08
19 ..Imports A021RY2	-2.57	-1.05	-0.66	0.16
20 ....Goods A255RY2	-2.29	-0.99	-0.1	0.19
21 ....Services A656RY2	-0.28	-0.06	-0.56	-0.03
22 Government consumption expenditures and gross investment A822RY2	0.89	1.22	0.02	0.8
23 ..Federal A823RY2	0.98	0.56	-0.16	0.68
24 ....National defense A824RY2	0.86	0.43	-0.23	0.66
25 ....Nondefense A825RY2	0.12	0.13	0.07	0.01
26 ..State and local A829RY2	-0.08	0.66	0.18	0.13

Be prepared for the State of the Union lies and bullshlt.