Posted on 04/25/2024 11:42:45 AM PDT by ChicagoConservative27
U.S. economic growth was much weaker than expected to start the year, and prices rose at a faster pace, the Commerce Department reported Thursday.
Gross domestic product, a broad measure of goods and services produced in the January-through-March period, increased at a 1.6% annualized pace when adjusted for seasonality and inflation, according to the department’s Bureau of Economic Analysis.
Economists surveyed by Dow Jones had been looking for an increase of 2.4% following a 3.4% gain in the fourth quarter of 2023 and 4.9% in the previous period.
Consumer spending increased 2.5% in the period, down from a 3.3% gain in the fourth quarter and below the 3% Wall Street estimate. Fixed investment and government spending at the state and local level helped keep GDP positive on the quarter, while a decline in private inventory investment and an increase in imports subtracted. Net exports subtracted 0.86 percentage points from the growth rate while consumer spending contributed 1.68 percentage points.
(Excerpt) Read more at cnbc.com ...
And it’ll be revised down even further when no one is paying attention, just like they fudged the numbers for obama
The results of the Biden economy.
Have you ever noticed how economic under performance is always unexpected when a Dim is POTUS?
The results of the Biden economy.
Why wouldn’t they just pass a law requiring the GDP to grow at a faster rate? That should probably fix it.
How much of that increase is the result of uncontrolled spending?
Maybe but I think it’s more like 1970s which was a decade of slow growth and high inflation and was resolved under Paul Voelker and Ronald Reagan took over the main difference is we weren’t 35 trillion in debt back then
Why do they sugarcoat this cr@p? Why not just give Americans the straight data? We’re LIVING IT EVERY DAY at the grocery store and the gas station, our utility bills and our insurance ‘adjustments’ that have gone nowhere but UP!
81 million votes my Aunt Fanny!
04/10/2024
“In March, the Consumer Price Index for All Urban Consumers increased 0.4 percent, seasonally adjusted, and rose 3.5 percent over the last 12 months, not seasonally adjusted. The index for all items less food and energy increased 0.4 percent in March (SA); up 3.8 percent over the year (NSA).”
With inflation factored in, your DOLLAR is only worth .83 CENTS right now...and that’s just since Brandon has been at the helm.
https://www.bls.gov/data/inflation_calculator.htm
In the fwiw department, that’s annualized growth with inflated currency.
Not good
5.56mm
I’m now thinking that Joe’s dementia is an act, he’s playing to the dearth of critical thinking by the voters. Reminds me of an old Law and Order episode where the Mafia chieftain played like an invalid. After the trial, he was back to normal.
“There’s that word again: “unexpected.””
Just wait until it’s revised down further next month when all of the data is sorted.
Biden is an economic illiterate.
Time for the daily dose of gaslighting. I’ll bet it actually shrunk.
Must be nice for Biden’s goons and thugs to own the press...
If that’s what they are reporting you can’t bet it was actually much lower.
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