Posted on 12/21/2023 5:58:20 AM PST by Kaiser8408a
The third revision to Q3 Real GDP was a doozy! Based on updated consumer spending, Q3 Real GDP was revised to an annual rate of 4.9%.
Real gross domestic product (GDP) increased at an annual rate of 4.9 percent in the third quarter of 2023, according to the “third” estimate. In the second quarter, real GDP increased 2.1 percent. The increase in the third quarter primarily reflected increases in consumer spending and inventory investment. Imports, which are a subtraction in the calculation of GDP, increased.
Profits increased 3.4 percent at a quarterly rate in the third quarter after increasing 0.2 percent in the second quarter.
In the third quarter, the value added of private goods-producing industries increased 10.2 percent, private services-producing industries increased 4.1 percent, and government increased 2.0 percent. Overall, 14 of 22 industry groups contributed to the third-quarter increase in real GDP.
Actually, the third estimate lowered Q3 Real GDP from 5.2% to 4.9%.
Private goods soared. That includes cell phones, military arms, etc.
I am waiting for some “economist” to laud the wonders of open borders for the economy.
(Excerpt) Read more at confoundedinterest.net ...
Private goods “military arms”. Gee wonder what triggered that sectors increase.
Nail salons, cannabis dispensaries and vaping stores are not conducive to a good economy...........
Does inflation inflate this number since people are paying more for goods?
At this point, all “official” news is fake news until proven otherwise.
More fuzzy math to prop up the administration’s economic numbers as xiden ponders how he painted himself into a corner in between naps & fleeting moments of mental clarity, a pardon for his son and dropping out of 2024 looming large...
We are China.
An authoritarian government that releases economic data which no one really believes anymore.
The real GDP change stated is the nominal increase in GDP minus the official inflation rate, so it is as real as the official inflation number.
My thoughts, exactly inflation has caused the GDP to increase not more production.
We need to audit all their data — as soon as they can’t keep us from doing it.
They subtract inflation from the numbers. That’s called the GDP deflator.
The Biden regime borrows a $trillion more than they take in taxes, and then give $5000 to each illegal alien to spend as they see fit.
So yes, there is more consuming go on, but it is artificial. At some point, all that borrowed money will have to be paid back or else it will devalue the dollar perpetually into infinity.
So take your 4.9 3rd quarter GDP and shove it! /spit
What inflation number did they use? If you have been to the grocery store you know they are lying about inflation. So made up numbers are meaningless!
Yes, food prices have risen faster than prices of other types of goods and services for most the past two years. Kicking so many illegal immigrants out of the harvest process means we do have to pay a bit more to get those products to market.
Icreases in consumer spending = inflation.
So. The regular GDP forecasts from Biden’s Regime were fake? Yeah.....and so are these.
Nothing but lies comes out from this Regime’s mouth. Nothing but lies.
Do you want to know The real reason I don’t believe the numbers? These numbers are generated by people that lie cheated and stole an election, these are numbers of generator by people that spied on a president, these numbers are generated by people that have sent the law enforcement and courts after their political opponents. These people will do anything to get power and stay in power, so I don’t believe a GD thing they say.
That’s a bold statement to make, but it’s absolutely true.
We’re supposed to believe that PedoJoe got 81,000,000 votes. Yeah, sure.
Okie Dokie.
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