Posted on 06/29/2023 6:53:09 AM PDT by ChicagoConservative27
The U.S. economy was much stronger in the first quarter of 2023 than it initially seemed, according to data released Thursday by the Commerce Department.
U.S. gross domestic product (GDP) grew at an annualized rate of 2 percent in the first quarter, according to revised data released Thursday, far faster than the 1.3 percent annualized growth rate estimated by government officials earlier this year.
The first-quarter growth rate has been revised substantially higher from the 1.1 percent annualized rate first reported by the Bureau of Economic Analysis earlier this year.
The revision is much bigger than what is normally announced by the BEA.
The BEA makes three estimates of economic growth for each quarter, but revisions are usually far smaller than the 0.7-percentage point boost seen Thursday.
(Excerpt) Read more at thehill.com ...
Nor for anyone else but inflation has for the consumer it’s at 15%.
What are they going to say about the people that are not buying medication to buy food at higher prices. Home sales have gone down, is that improvement when it demonstrates the lesser of evils as both are over priced?
wy69
Not meaning to insult you.
I was referring to the government announcement of "greater than expected economic growth" as "all lies and jest".
After accounting for inflation, it appears that the American economy is in decline. Certainly, the living standards of most Americans are in decline, due to prices and taxes rising faster than income.
Which is what the rest of your post said too. I cannot claim it as an original thought.
"I stand on the shoulders of giants".
Revised by the same people figuring the cost of military equipment being sent to Ukraine.
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