Posted on 12/23/2014 6:43:10 AM PST by blam
Sam Ro
December 23, 2014
America is just killing it.
Q3 GDP growth was just revised up to 5.0% from last month's estimate of 3.9%.
This is the fastest pace of growth since Q3 2003. This was also much stronger than the 4.3% expected by economists.
"The increase in real GDP in the third quarter primarily reflected positive contributions from PCE, nonresidential fixed investment, federal government spending, exports, state and local government spending, and residential fixed investment. Imports, which are a subtraction in the calculation of GDP, decreased," the BEA said.
Personal consumption growth was revised up to 3.2% from 2.2%.
Services spending growth accelerated to a 2.5% rate, adding a whopping 1.2 percentage points to GDP growth.
Real final sales, that is GDP minus the change in private inventories, jumped 5.0%.
(snip)
(Excerpt) Read more at businessinsider.com ...
(ahem) Still unexpected.
5%...now that is truly shovel ready.
Christmas sales?
All praise to our Lord And Savior, The Obama, The Messiah, The Won!
Just saw $1.99 gas in Nola...this economy is going to rip.
“federal government spending . . . state and local government spending”
I wonder what the growth would be (even before the inevitable revision downward to come) without the bloated spending by the government behemoth.
Yea,tell me where to park the manure spreader for easy loading.
Thank you Texas and North Dakota.
I think the explation sis simply that the lower gasoline prices this last quarter allowed people to keep more of their money so they had more to spend. Clue to Obama: when you cut taxes you get the same effect...
And lower energy prices.
Too bad that the so called experts don’t seem to realize that when energy prices go up (in the form of supply issues and things like a carbon tax), that the economy stagnates.
Democrats and Liberals are actively pushing both — reducing supply and adding new energy taxes.
My,My. All that borrowing and money printing sure makes those statistics look good. Somewhere Mark Twain is laughing hysterically.
Not Christmas sales but government spending. How they can include spending as “growth” is beyond me.
And that is in spite of everything the dems and gop-e have done to slow it down. Imagine if we had an administration and congress that actually wanted to make America great!
I don’t believe a single thing coming from this shameless lying administration.
CommieCare negated all those lies.
Still thinking they can take a bucket of water out of the deep end, spill half of it, and poor it in the shallow end,
and claim they’re filling the pool.
True GDP growth should NEVER include Govt/Socialist spending of OUR tax dollars.
Going by ZeroHedge, this is actually the result of Obamacare spending. Apparently, they originally counted that spending back in Q1, but Q1 turned out to be such a disaster that they decided to just write that quarter off completely, so they pulled the Obamacare amount out of Q1, and just used it later in the year to push the numbers up.
Heck it seems half the Freepers are open border free traitors i.e. Libertarians. I am losing trust everywhere.
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