DECENT NEWS FOR U.S. ECONOMY … BUT WHAT’S AHEAD?
By FITSNews || The federal government released its latest economic revision for the second quarter of 2014 this week and the news was (mostly) good. America’s gross domestic product expanded at a 4.6 percent clip according to the new data – which is the biggest quarterly jump since 2011.
Good news? Sure. Although the increase was partly due to definitional changes employed by the U.S. Bureau of Economy Analysis (BEA) – and an increase in health care spending associated with Obamacare.
Still, any way you slice it plus 4.6 percent is a lot better than minus 2.1 percent – which is what gross domestic product did during the first quarter.
On a sour note, personal consumption – the driver of the U.S. economy – only grew by 2.5 percent in the latest revision (less than the 3 percent analysts were expecting).
“The much anticipated US consumer renaissance has been delayed,” our friends at Zero Hedge noted.
For those of you visually inclined …
(Chart via)
8 comments
Thanks, Obama!!
Until it’s adjusted to back down to -5%, two days after election day.
Is it lonely living in your own little world?
Like I said: “anybody can regurgitate what they feed you.”
Regurgitate this – 4.6% growth in 2nd quarter – bam!!!! Consistently falling unemployment month over month – bam!!! Except in SC run by the GOP – kabam!!! Wham!!! Thank you ma’am!!!!
To be revised (again)
Once Big T heralds another evolution in Republican Thought.
The Evolution of GOP thought to date.
1. The economy is not recovering , nothing is getting better, Obama sucks!
2. The economy is recovering and things are getting better, but not fast enough, Obama Sucks.
3. The economy is continuing to recover, and things are getting better, but it wont last. Obama sucks.
4. Ok the economy appears to have experienced significant recovery, and all the analyst say things are definitely getting better. It must be a lie. Obama sucks.
You forgot – Benghazi – – – – Obama Sucks.