Posted on 07/30/2015 7:52:22 AM PDT by SeekAndFind
On Thursday, the Bureau of Economic Analysis released its advance estimate of real gross domestic product for the second quarter of this year— covering April, May and June. The release showed output in the U.S. increasing at a rate of 2.3%. This is a major acceleration from the first quarter when real GDP increased 0.6%.
“The advance estimate of second quarter GDP confirmed what was broadly expected: the economy bounced back after stumbling out of the gate to start the year,” wrote Jim Baird, chief investment officer for Plante Moran Financial Advisors, in a note on the results. While economists on average were anticipating growth of 2.5% in Q2 Baird recommends focusing on the “solid improvement.”
Another positive is the revision to the first quarter GDP reading which now shows expansion rather than a contraction as BEA previously estimated.
The second quarter uptick reflects higher rates of personal consumption expenditure, state and local government spending, residential fixed income and more exports. These gains were partially offset by lower federal government spending, private inventory investment and nonresidential fixed investment. Meanwhile imports, which negatively impact GDP, increased.
The price index for gross domestic purchases — which measures prices paid by U.S. residents — increased 1.4% in the second quarter, compared to a 1.6% increase in the first. Excluding food and energy prices, however, the price index increased 1.1% in Q2 and 0.2% in Q1. Real personal consumption expenditures increased 2.9% compared with a 1.8% increase last quarter.
(Excerpt) Read more at forbes.com ...
Forget about lipstick on a pig. This is putting a blond wig on a polished turd.
And we're supposed to believe 'economic growth picks up' now?
Of course you all realize in 3 weeks they will come out and revise it downward to about -.05.
Riiiiiiiiiiiight.
Except that US cuts estimates for economic growth over past 3 years
2.3% is absolutely pathetic. Even with cooked book figures they can’t make it look good.
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Right. 2.3% is anemic. We are nowhere near a recovery.
If a Republican was president, the left wing media would be blasting them for the painfully slow pace of growth and the economic hardships this has inflicted upon on the American people.
It will be revised lower in the future anyway, if for no other reason than to make the next comparison look better.
Of course, this preliminary set of numbers is subject to later revision....
We never escaped the “recession” that began sometime in the middle of the last decade.
Oh, wait. We DID escape the “recession” when it became a full-blown DEPRESSION, about 2009 or so, in which we still are sitting, buoyed up only because of something called “quantitative easing” and the absence of hard currency anywhere on earth. Most transactions are in terms of “digital” money, except those based on barter terms.
Oh, a little gold and silver (”hard currencies”) still change hands, but these are mostly for settlements between very large entities, like nations or multi-national corporations.
LOL! Okay.
Wait until it gets revised
Hey it's not like Lord Foul hasn't been trying to spur the economy, for years he has been paying many greens fees and taken multiple exorbitant vacations for himself and the family, using millions and millions of the taxpayers dollars of course. Yes the one thing you always count on democrats is to be the biggest piece of excrement around.
Riiiiight.
Forbes magazine....ya gotta be kidding me.....the number of GDP is horrible!!!
Expect it to be revised downward in about 3 months. That has been the general pattern.
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