GDP revised up to 5.9% on slower inventory cuts (UNEXPECTED)

FOXNEWS ^ | February 26 2010 | marketwatch.com

[TSgt]

WASHINGTON (MarketWatch) - The U.S. economy grew slightly faster than previously reported in the fourth quarter, the Commerce Department estimated Friday, but details of the revision to gross domestic product show final sales in the United States were actually weaker than reported a month ago. U.S. real gross domestic product increased at a 5.9% seasonally adjusted annualized pace in the final three months of 2009, revised up from 5.7% estimated last month. The revision was exactly in line with expectations of economists surveyed by MarketWatch. Read our complete economic calendar. In the third quarter, GDP rose at a 2.2% annual pace. GDP fell 6.4% in the first quarter of the year and 0.7% in the second quarter.

[TSgt]

RECOVERY! /SAR

[NVDave]

What was more important (from my perspective) was the revision downwards in PCE.

[pnh102]

LOL. This must be an early April Fools day. I was reading earlier that this January was the warmest on record too.

[TSgt]

Apologies, this is from Marketwatch not FOXNEWS.

Can you please change the source?

[Neidermeyer]

actual increases in final/consumer demand were less than 2% ... the GDP number represents government spending and inventory adjustments .. government spending should be considered to be a negative not a positive for these computations as it represents nothing but a drag on the producers.

[TexasFreeper2009]

exactly. The Government is not to be believed anymore.

Everything that comes out of the government now is pure propaganda.

[central_va]

I can’t remember the last time an annualized GDP was nearly 6%. Somebody help me.

[Erik Latranyi]

Government interference skews EVERYTHING!!!!!

[KarlInOhio]

According to http://www.economagic.com/em-cgi/data.exe/var/rgdp-qtrchg it was in the 3rd quarter of 2003.

But unless the rest of the country is different from here, I don't see how the quarter's growth could be 1.47% (annualized to 6%) with honest calculations.

[screaminsunshine]

Happy Days Are Here Again!!

[misterrob]

Unless you are talking defense spending.

To me that is an investment in our collective future....

[OB1kNOb]

I guess I've gotten so cynical over the last few years that I place no credibility on any statistic calculated and released by the government anymore, whether it's GDP, CPI, unemployment or M1 monetary statistics. What they give us are numbers manipulated to give us the result they want the sheeple to believe, or to hide the truth. I'd come closer these days to believing a used car dealer's claims or a TV shyster like Bennie Hinn, rather than government produced statistics.

[raptor22]

If the government copyrighted the use of the word “unexpectedly” we could retire the debr Obama is piling up: http://www.freerepublic.com/focus/f-news/2457120/posts

[Zeddicus]

Denninger sums up our economic reality in this one very concise paragraph:

Our machinations have hidden an actual, ongoing depression. More than $2 trillion in direct spent support by the government - borrowed beyond tax receipts in the last 18 months, constitutes 14% of annualized GDP. On an annual basis this is about 10%, and a 10% top-to-bottom contraction in GDP is the economist's definition of Depression.

So we are being fed pure propaganda by a thieving, malevolent ruling entity. This positive GPD data exists only because of the ruinous games the .GOV has been playing with our monetary system.

The sad thing is, the vast majority of the population will never know about this, will never understand. Even Fox & Friends was just trumpeting the good news of the robust Q4 GPD numbers.

[Neidermeyer]

Defense spending is of course legit and necessary ,, I was thinking of millions of unionized gov’t “workers” playing on facebook all day and planning lunch runs the minute they show up for “work”.

[unkus]

exactly. The Government is not to be believed anymore.

Everything that comes out of the government now is pure propaganda.

---

That’s the damned truth!

[Recovering_Democrat]

We've heard this story before:

There were times when it seemed to the animals that they worked longer hours and fed no better than they had done in Jones's day.

On Sunday mornings Squealer, holding down a long strip of paper with his trotter, would read out to them lists of figures proving that the production of every class of foodstuff had increased by two hundred per cent, three hundred per cent, or five hundred per cent, as the case might be. The animals saw no reason to disbelieve him, especially as they could no longer remember very clearly what conditions had been like before the Rebellion.

All the same, there were days when they felt that they would sooner have had less figures and more food.

George Orwell's Animal Farm

[edcoil]

Everything seems to be unexpected by our experts today.

[GeronL]

The “growth” is all government spending, which actually HURTS the real economy.

[Ghost of Philip Marlowe]

Government spending.

Higher cost of petroleum, too.

Bogus GDP, if you ask me.