The cold weather cost the U.S. economy about $15 billion. Maybe

Market Watch ^ | June 25, 2014

[Oldeconomybuyer]

Now that the third revision to gross domestic product is in, we can make a back-of-the-envelope calculation of just how much the unusually cold winter cost the U.S. economy.

But obviously, the contraction wasn’t all weather. So, how much?

MarketWatch put that question to Gus Faucher-Wanker, senior economist at PNC.

“My sense is that, in terms of contraction, more than half was due to the weather. I don’t think it had much of an impact on trade, didn’t have much to do with government, but I do think [the weather impacted] the weaker consumer spending, the drag from inventories, and a lot of what we saw in construction activity,” he said. “I would say more than $15 billion.”

[yobid]

All the more reason to embrace global warming.

[blackdog]

Good thing global warming gave us a soft bounce huh?

[GraceG]

These calculations are bunk for many reasons, one of them being that most of them are already being budgeted in previous years because you know seasons and all...

It is like saying that Summer has costed you an extra 50 dollars because you kept track of all the ice cream you bought in the summer....

Besides Obama cost us a hell of a LOT more than ANY season of the year... PER SEASON...

[Viennacon]

Hahahahaha. Cold weather, yeah I’m sure. More like the Uniparty ushering in America’s demise.

[brownsfan]

Canada grew at 1.5%?
So, Canada has milder winters?

[Iron Munro]

Poor Obama - Even the Weather Gods are out to get him.

Probably because he is black.

[Jack Hammer]

“Obama cost us a hell of a LOT more than ANY season of the year...”

Ding ding ding!

We have a winner - no more calls, please.

[wku man]

I read an article recently which showed that, for most of the last 100 years, the economy expanded in the winters. Even during the coldest on record -- '78-'79, IIRC -- the economy grew. The article also said this past winter was something like the 15-20th coldest on record, nowhere near the worst.

Of course, we FReepers and other conservatives know this, and have known it all along. The Sheeple, though, will hear the Obammunist lickspittle media repeat the lie often enough to believe it. Goebbels would be proud.

Scouts Out! Cavalry Ho!

[mulligan]

How does anyone arrive at that? Have we never had cold weather before? All BS and politically motivated.

[I want the USA back]

“Canada grew at 1.5%?
So, Canada has milder winters?”

Great posting!

[Tax-chick]

Well, that’s easy to fix!

[I want the USA back]

So then global warming went away?

[familyop]

"The cold weather cost the U.S. economy" engine of recirculating debt "about $15 billion. Maybe"

[Cementjungle]

Don’t people buy heating fuel during cold weather? Don’t unionized snowplow drivers make bundles during snowstorms? Don’t people go on grocery shopping sprees before storms approach? Doesn’t any of this activity count in the numbers?

[clearcarbon]

"the drag from inventories"

Did somebody get suckered into thinking they were going to sell more?