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US economy grew much faster in first quarter than previously believed
The Hill ^ | 06/29/2023 | SYLVAN LANE

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 ...


TOPICS: Business/Economy; Culture/Society; Government; News/Current Events
KEYWORDS: economy; faster; grew; quarter
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What a bunch of BS
1 posted on 06/29/2023 6:53:09 AM PDT by ChicagoConservative27
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To: ChicagoConservative27

Get ready for Mr. Mush For Brains to take a victory lap today and brag about all the jobs he created in Ukraine, er, Iraq, er, China.


2 posted on 06/29/2023 6:56:17 AM PDT by ProtectOurFreedom (I don’t like to think before I say something...I want to be just as surprised as everyone else.)
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To: ChicagoConservative27

Economy hasn’t improved for me.


3 posted on 06/29/2023 6:57:08 AM PDT by tennmountainman (FUJB)
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To: ChicagoConservative27

LOL! The Brandon administration is such a wonderful source of good news. I guess this is the Ass. Press way to kickoff the Let’s Go Brandon “Bidenskyyyyynomics” World Tour and Victory Lap.


4 posted on 06/29/2023 6:59:01 AM PDT by FlingWingFlyer (A man in NM is killed over a movie theater seat. The azhos in The Swamp think guns are the problem. )
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To: ChicagoConservative27

The Shill keeps shilling.


5 posted on 06/29/2023 6:59:10 AM PDT by HandBasketHell
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To: ChicagoConservative27

From the Hill of Crap


6 posted on 06/29/2023 6:59:14 AM PDT by butlerweave
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To: ChicagoConservative27

That was not growth that was inflation.


7 posted on 06/29/2023 6:59:35 AM PDT by IC Ken (If the government can just print Money why do I have to pay taxes?)
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To: IC Ken

Inflation is probably about 20% based upon costs of everyday items.

If the economy growth is less than inflation, the economy is actually shrinking......

That’s what I am seeing, and I think that is what people are feeling.


8 posted on 06/29/2023 7:02:53 AM PDT by Pete Dovgan
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To: ChicagoConservative27

Sure it did. LOL


9 posted on 06/29/2023 7:04:03 AM PDT by mykroar (what is extraordinarily important is this—who will count the votes, and how. - J0eStalin)
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To: ChicagoConservative27

must mean cost of living?


10 posted on 06/29/2023 7:05:53 AM PDT by WeaslesRippedMyFlesh (wake me up when somebody tells the truth)
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To: ChicagoConservative27

SYLVAN LANE

AI story


11 posted on 06/29/2023 7:07:45 AM PDT by WeaslesRippedMyFlesh (wake me up when somebody tells the truth)
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To: ChicagoConservative27
...unexpected...
12 posted on 06/29/2023 7:07:50 AM PDT by skimbell
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To: ChicagoConservative27

Revised economy. Revised votes.


13 posted on 06/29/2023 7:08:49 AM PDT by bgill
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To: ChicagoConservative27

It’s true.

When everything is taken into consideration. If everything out there became more expensive during the last 2 years because of inflation, then, all computations for economic growth have to consider the inflation rate, and so, we end up with ‘inflated economic growth’. Without the inflation rated, the economy would be in recession. ;)

Everything I buy, costs more, but, all of those things add up to be being richer. For example, if I bought a house 2 years ago, I’m 30% richer then I was 2 years ago, because home prices have gone up 30% in the last 2 years. Inflation is my best friend. Biden should be touting the benefits of inflation. ;)


14 posted on 06/29/2023 7:09:50 AM PDT by adorno
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To: ChicagoConservative27

Folks don’t comprehend the amount of money the world has. That money flows into areas. The US is/was a area for investment and parking money. That money has to do something, via real estate, equities, and other places. The The US was flooded with covid cash from Trump and Biden, it will take time for that money to settle down, and also not being as lock down prone as other countries invites investment.


15 posted on 06/29/2023 7:10:01 AM PDT by Theoria
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To: ChicagoConservative27

Given how much the government lies why would anyone believe these numbers? This is fabricated nonsense designed to help Biden and gaslight the public.


16 posted on 06/29/2023 7:12:32 AM PDT by Scott Kraut (Diversity for the sake of diversity is flat out stupidity.)
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To: adorno
It’s true.

All lies and jest.

But a man hears what he wants to hear,

And disregards the rest.

(The Boxer, 1969, Simon and Garfunkel)

17 posted on 06/29/2023 7:13:54 AM PDT by flamberge (It turns out that you can fool most of the people, most of the time.)
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To: ChicagoConservative27

Sure it is, and the harvest is at record numbers.


18 posted on 06/29/2023 7:36:57 AM PDT by bray
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To: ChicagoConservative27

BIDEN SHILL.


19 posted on 06/29/2023 7:51:18 AM PDT by GailA (Constitution vs evil Treasonous political Apparatchiks, Constitutional Conservative.)
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To: ChicagoConservative27
Two questions: is it really reakl and what sectors.

We all know there is a booming economy in disinformation supression and public service deepstate party line propogandizing, perhaps medical administration or regulatory services. What about things that matter to people, like food, clothing, REALENERGY TM, and manufacturing of things necessary for happiness and well-being. We all know that true journalism has shriveled up and is almost dead.

20 posted on 06/29/2023 7:59:08 AM PDT by AndyJackson
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