U.S. Economy Grew at 4% Rate in Second Quarter, Beating Expectations

New York Times ^ | 20 July 2014

[Lorianne]

The United States economy rebounded heartily in the spring after a dismal winter, the Commerce Department reported on Wednesday, growing at an annual rate of 4 percent from April through June and surpassing economists’ expecations.

[Lorianne]

Can you believe it! We're saved!

[E. Pluribus Unum]

Next week when the corrected numbers come out it will be -2%.

[2ndDivisionVet]

Six this is two, Bravo Sierra, over.

[SumProVita]

Commerce Department? Let’s see...that’s the Federal Government, isn’t it?

OK...must be false then.

[skeeter]

Cool, then according to the Commerce dept and the NYT, the GDP growth for the first half was 1.1%.

Yippee.

After they adjust the number downward next month it'll be back to negative growth.

[demshateGod]

My thoughts exactly. The rainbows and unicorns finally arrived! Praise to Aiges-Bearing Jove.

[ken in texas]

The conversation went something like this:

White House to Commerce: "How much did the economy grow this quarter?"
Commerce: "What number would you like us to use?"

[newnhdad]

I’ll wait until the adjustments come out on Friday before labor day weekend.

[molson209]

and Moon is made of Cheese ,WOW

[COBOL2Java]

The rainbows and unicorns finally arrived! Praise to Aiges-Bearing Jove.

[Bogey78O]

They adjusted 1Q to -2.1%.

The original swing was 3.9 points. Now it’s a 3.1 point reduction from the original 1%.

I’m thinking this will get revised down to just below 2% eventually.

America is stagnant economically.

[combat_boots]

Sure it is. Which major companies just laid off 1000s? Mirosoft, ....

What is the number for the banks?

[Lorianne]

Exactly. Even if by some remote chance this is true, they have zero credibility at this point. And they know it.

So, why 4%? It’s nice round number. Four is a very good useful number and hasn’t been used in a while. Completely underused for some years now. I like 4. Who would not like the number 4 ? ... unless they are ‘haters’ or racists something.

[Wyatt's Torch]

Original was +0.1% not 1.0% and was based on the flawed ACA methodology now fixed.

[VRWC For Truth]

Liar, liar, pants on fire.

[ProtectOurFreedom]

Oh Happy Day! Hallelujah. All praise Dear Leader.

[Wyatt's Torch]

1st revision is scheduled for 8/28

2nd revision scheduled for 9/26

3rd scheduled for 10/30

The while schedule is published http://www.bea.gov/newsreleases/news_release_sort_national.htm

[Little Ray]

I wonder how much of that “growth” was inflation?

[ProtectOurFreedom]

White House to Commerce: "But don't use it all up. Save some growth for the September and October reports."

[Amendment10]

"Next week when the corrected numbers come out it will be -2%."

Yes, revisions tend to show worse results.