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US Q3 GDP Grows at 3.7%
CNBC
| October 29, 2004
Posted on 10/29/2004 5:30:37 AM PDT by RWR8189
The US economy probably grew at a rate of 3.7% in the third quarter of 2004.
Details to come...
TOPICS: Breaking News; Business/Economy; Government; News/Current Events; Politics/Elections
KEYWORDS: bea; boom; bush43; bushboom; busheconomy; bushrecovery; depression; economicgrowth; economy; gdp; growth; jkids; kerry; tdids; thebusheconomy
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1
posted on
10/29/2004 5:30:38 AM PDT
by
RWR8189
To: RWR8189
To: RWR8189
Not bad for soaring oil prices and 4 hurricanes.
3
posted on
10/29/2004 5:32:07 AM PDT
by
hawkaw
To: RWR8189
Looks good to me!
4
posted on
10/29/2004 5:32:14 AM PDT
by
IrishGOP
(John sKerry believes in the UN, I believe in the 101st Airborne Screaming Eagles!)
To: All
This guy is spinning 3.7 growth as horrible?
4.3% was an incredibly inflated number.
5
posted on
10/29/2004 5:32:20 AM PDT
by
RWR8189
(Its Morning in America Again!)
To: epluribus_2
It's very solid considering oil prices.
To: RWR8189
Yeah, but the economy grew on the backs of the poor, the starving chulrun, and my grandparents who are out on the street staring at my house as I speak.
To: RWR8189
Expect to hear that the 3.7% growth rate is disappointing because it fell way, way, way short of analysts' expectations of 4.3%.
Spin! Spin! Spin!
To: gathersnomoss
9
posted on
10/29/2004 5:33:33 AM PDT
by
Tijeras_Slim
(I want to have fanatical henchmen when I grow up.)
To: epluribus_2
Very bad news
For Lurch ;-)
To: RWR8189; All
We're doomed!! Doomed I tell ya...
11
posted on
10/29/2004 5:34:55 AM PDT
by
KevinDavis
(Let the meek inherit the Earth, the rest of us will explore the stars!)
To: RWR8189
Line |
|
2004 I |
2004 II |
2004 III |
1 |
Gross domestic product |
4.5 |
3.3 |
3.7 |
2 |
Personal consumption expenditures |
4.1 |
1.6 |
4.6 |
3 |
Durable goods |
2.2 |
-0.3 |
16.8 |
4 |
Nondurable goods |
6.7 |
0.1 |
3.9 |
5 |
Services |
3.3 |
2.7 |
2.7 |
6 |
Gross private domestic investment |
12.3 |
19.0 |
5.2 |
7 |
Fixed investment |
4.5 |
13.9 |
8.5 |
8 |
Nonresidential |
4.2 |
12.5 |
11.7 |
9 |
Structures |
-7.6 |
6.9 |
1.4 |
10 |
Equipment and software |
8.0 |
14.2 |
14.9 |
11 |
Residential |
5.0 |
16.5 |
3.1 |
12 |
Change in private inventories |
--- |
--- |
--- |
13 |
Net exports of goods and services |
--- |
--- |
--- |
14 |
Exports |
7.3 |
7.3 |
5.1 |
15 |
Goods |
9.1 |
6.0 |
7.8 |
16 |
Services |
3.4 |
10.2 |
-0.8 |
17 |
Imports |
10.6 |
12.6 |
7.7 |
18 |
Goods |
12.7 |
13.0 |
7.5 |
19 |
Services |
1.2 |
10.6 |
8.8 |
20 |
Government consumption expenditures and gross investment |
2.5 |
2.2 |
1.4 |
21 |
Federal |
7.1 |
2.7 |
4.6 |
22 |
National defense |
10.6 |
1.9 |
9.3 |
23 |
Nondefense |
0.2 |
4.4 |
-4.7 |
24 |
State and local |
0.0 |
1.9 |
-0.5 |
12
posted on
10/29/2004 5:37:30 AM PDT
by
RWR8189
(Its Morning in America Again!)
To: gathersnomoss
They'll hobble away soon enough. Just don't feed them. That's why God made tree bark.
To: Tijeras_Slim
I have tried that. Closing the shades hasn't stopped them from staring and causing a scene if front of my neighbors. And my chulrun keep stealing their oatmeal.
To: gathersnomoss
Oatmeal... why are they complaining? All their peers are forced to live on catfood.
15
posted on
10/29/2004 5:40:01 AM PDT
by
Tijeras_Slim
(I want to have fanatical henchmen when I grow up.)
To: RWR8189
Personal spending went way up to 4.6%. That's huge and very telling. All about confidence in an economy.
To: RWR8189
Yup:
Economy Grows at a 3.7 Percent Pace in 3Q
1 minute ago
By JEANNINE AVERSA, Associated Press Writer
WASHINGTON - The U.S. economy grew at a 3.7 percent annual rate in the third quarter a pace that was slightly better than in the spring but not as strong as many analysts expected. The government report was the last broad snapshot of economic activity before Election Day.
The reading on gross domestic product (GDP (news - web sites)) for the July-to-September quarter the last broad snapshot of economic activity before Election Day followed a 3.3 percent growth rate in the prior quarter, the Commerce Department (news - web sites) reported Friday.
Analysts were predicting that the economy, which Federal Reserve (news - web sites) Chairman Alan Greenspan (news - web sites) had said hit a "soft patch" in the late spring, would gain traction and expand at a more brisk 4.3 percent rate in the third quarter.
GDP measures the value of all goods and services produced within the United States and is considered the broadest barometer of the economy's health.
Although the third quarter's performance fell short of analysts' expectations, it still marked the best growth seen since the first three months of this year.
Consumers the lifeblood of the economy snapped out of a funk in the third quarter and boosted spending at the fastest pace in a year. Businesses also increased spending on equipment and software, but they didn't invest as aggressively on building inventories a factor that restrained economic growth in the third quarter. The bloated trade deficit also weighed on economic activity.
To: epluribus_2
Yep, up from Q2 which was 3.3% Moving up again. Most economist say over 3% is not sustainable long term.
Better than France which was 0.8% in Q2 and expected to be about the same in Q3 -- :^)
18
posted on
10/29/2004 5:41:06 AM PDT
by
snooker
(Hate is not a plan for America)
To: gathersnomoss
"...and my grandparents who are out on the street staring at my house as I speak."I hate that. I had to hire street thugs to make'em go away. You don't know how much it hurt me to do that. Those kids were expensive.
19
posted on
10/29/2004 5:45:03 AM PDT
by
Leisler
(Kerry, release your Department of Defense SF 180)
To: gathersnomoss
Yeah, but jobs are being lost and even the new jobs pay less. So even though the GDP is growing like gangbusters, we're all worse off!
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