Is that real growth? Or did it just keep up with inflation?
And what business sectors were left out to get to that number?
The fourth-quarter data reflected those price pressures as well, with the price index for gross domestic purchases up 6.9% in the fourth quarter and 3.9% for the full year.
Are they saying that prices are up 6.9%?
And also saying that GDP is up 6.9%?
Can these dots be connected?
Hi.
The GDP is not reported in inflation adjusted numbers.
Plus, the current GDP growth will be adjusted, up or down in two weeks.
The numbers are in the ballpark given the pent up demand.
5.56mm
Best President since Reagan!!!
LMAO...right.......
Growth was better than expected, unemployment was better than expected, inflation was through the roof. Which of those three do you think voters are going to remember in November?
If actual inflation is 15% but the official narrative is that inflation is (only!) 7%, would the increased spending to just to tread water be seen as 8% growth?
They can tell us all they want about "better than expected" numbers, but families filling up their cars with gas and buying groceries at inflated prices know different.
Happy Days Are Here Again!
This means little. The number is over the big cut backs from last year’s COVID. Remember the no Christmas Christmas. We did 6.9% better when we had a Christmas. Remember these numbers are an increase over the same quarter from last year.
So going back to pre-COVID we are doing just OK. But considering the massive cash thrown at people, we are doing very badly. And now we have to sop up that extra cash before it starts making every price go higher. My children have huge salaries, it will be interesting what becomes of those. I have a 24 year old who got a 40% raise. All of the kids got massive raises, most switched jobs to get them. That inflation is not coming out of the system too easily.
6.9 percent GDP increase…. 7 percent inflation…. Biden is the best ever. Common core math says so.
SO how much of the increase is government spending ?
C + I + G + NX = GDP
Consumer Spending +
Business Investment +
Government Spending +
Net EXports
6.9% growth just about makes up for 7% inflation. Oh and btw, that gdp number includes the ballooning of federal spending.
There is really only 2-3 weeks of Omicron in that quarter - plus you had Christmas in there too.
I thought 2% growth was the new normal.
I know a couple who spent a whole year doing drugs and going to casinos financed by Covid relief dollars. They ate pretty well with SNAP dollars. They didn’t work because unemployment insurance. Everything they bought during that time was counted in the GDP. Come to think of it, all the smash and grab loot and all the shoplifting is counted. I had two windows smashed in my car, the replacement is counted. All the stuff people have to buy to replace the stuff stolen by homeless people is counted. All the train loot and stolen Amazon packages are counted. Boom Times!!!