Posted on 12/05/2013 11:12:56 AM PST by SeekAndFind
The U.S. economy grew at an annual rate of 3.6 percent in the third quarter, according to data released Thursday by the Bureau of Economic Analysis. That's a rise from the second quarter, when the real gross domestic product tallied a 2.5 percent gain.
The pace of growth is the fastest since the first quarter of 2012, which clocked in at 3.7 percent.
Thursday's release is the "second" estimate for the third quarter, following up on data released in November that put the GDP's increase at 2.8 percent.
But the increase belies some potentially troubling signs. As The Associated Press notes, "Almost the entire third-quarter revision was due to a big jump in stockpiles. Consumer spending, the lifeblood of the economy, was the weakest in nearly four years."
It adds:
"When excluding inventories, the economy grew at a 1.9 percent rate in the third quarter, down from 2.1 percent in the spring. That's in line with the same subpar rate that the economy has seen since the Great Recession ended four years ago." Other factors in the revision included a rise in imports that was smaller in the third quarter than in the second, as well as an increase in spending by state and local governments.
In other economic news, the number of people filing first-time claims for unemployment insurance fell below 300,000 last week, to 298,000, the Employment and Training Administration said Thursday.
The agency says the seasonally adjusted data reflect "a decrease of 23,000 from the previous week's revised figure of 321,000."
(Excerpt) Read more at npr.org ...
Let’s keep in mind tomorrows jobs number will include a TON of holiday temps which will greatly inflate the number.
Of course no mention of these jobs being temporary and which go away after Christmas will be made by the msm.
Must be December! It’s called Christmas hires.
More fake economic numbers from Minitrue.
Where is Emmanual Goldstein when you need him?
Black Friday sets record: first time to ever not show increase in sales.
Msm is working harder to prop up the government propaganda now than they did to disseminate the negative during GWB presidency. The damage is done to the country and they can’t lie their way back to prosperity. Check out the local hustle and bustle for the time of year. Dismal.
Yeah right 3.6% my furry butt. The federal government at this point is like the old Soviet government, never believe anything they say, it’s a rigged game and with the slavish media why would they tell the truth ever?
RE: Of course no mention of these jobs being temporary and which go away after Christmas will be made by the msm.
Many jobs ( in fact MOST ) will also be PART TIME jobs because most businesses cannot afford to meet the Obama Healthcare mandate. It has been like that for the past year and I don’t see it changing anytime soon.
Sure thing and I am supposed to believe these numbers exactly WHY????
Lying bunch of liars don’t know how to tell the truth
BS
Somebody should tell BO and Congress that everything is so rosy that we won’t need to increase that minimum hourly rate or extend the unemployment benefits after all.
The Obama Administration’s numbers on the economy are as phony as their statements on ObamaCare. Lie now to distract Americans from an embarrassing lapse or get past a bump in the plan to ruin our nation.
This administration could tell me there’s sand at the beach, and I wouldn’t believe them.
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