Posted on 01/29/2016 8:31:34 AM PST by BenLurkin
The U.S. economy slowed to a crawl in the last three months of 2015, new government data showed Friday, an indication of how tepid global growth is exposing new weaknesses in the nation's long and sluggish recovery.
Gross domestic product, a measure of overall output, expanded at a seasonally adjusted rate of 0.7 percent between the months of October and December - just the second time in seven quarters that the nation has registered growth under 1 percent.
The pace, in line with economists' expectations, shows an economy that is being driven by steady consumer spending but weighed down by business cutbacks and a yawning trade deficit.
The anemic growth could drive new concerns about the nation’s ability to fight off a series of major headwinds, including a downturn in China - the world’s second-largest economy - and an appreciated dollar that has trimmed profits for American manufacturers. Markets have reflected that turmoil in the first weeks of 2016, with the Standard and Poor's 500 index falling more than 7 percent this month. On Wednesday, the Federal Reserve acknowledged that the economy was slowing down, even though the U.S. labor market remained strong.
(Excerpt) Read more at washingtonpost.com ...
It’s a whole lot worse if you can do simple 3rd grade MATH!!
Budget 3.9 TRILLION
Deficit 544 BILLION
That amounts to about 12%, so if the GDP is .7% then we LOST 11.3% in the total economy.
That my friends is a DEPRESSION!!!
But Austin Goolsbee insists that it is a solid path to recovery. He wouldn’t lie, would he? ;-)
Bienvenue a France!
The Obama great recession continues. Wait until we see the first quarter with the oil patch slump.
“An indication of tepid global growth”
It’s those other guy’s fault.
The sun was in their eyes! The refs were against them! They were sick!
Time to rejigger the figures for the next quarter. In the past, we have been told it is a structural reporting problem that occurs in the 4th quarter.
Wait until that .7% gets revised later.
If the folks on the public dole had to line up to get their checks we’d see we are in a Depression. Instead it’s EBT and free Obama phones. All is great.
Budget 3.9 TRILLION Deficit 544 BILLION
That amounts to about 12%, so if the GDP is .7% then we LOST 11.3% in the total economy.
That my friends is a DEPRESSION!!!
The politicians try to confuse the populace with interchangeable talk of deficits and debt.
Both are easily dealt with by cutting spending.
And the Dow rallied on this news, up 241 pts.
What a surprise.
the slowest quarter is the quarter containing the holidays??
that doesn’t bode well for the Q1 2016
You got that right. I guess the gov can’t prop up the house of cards anymore.
Even though this is bad news, it means the Fed will hold off on ending its quantitative easing policies, which sent the stock market soaring upwards.
NEW GOVENMENT LIES....... I MEAN “DATA”
d e p r e s s i o n.........
the “economy “ grew at a 3% rate during the FDR inspired depression.....
we have 33% UNEPMLOYED
and ZERO GROWTH.... in the real world
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