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Author Topic: GDP accelerates to 1.9% pace in 2nd quarter  (Read 1675 times)

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Offline Wretched Excess

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GDP accelerates to 1.9% pace in 2nd quarter
« on: July 31, 2008, 09:08:43 AM »

this was the least negative story I could find about the economy not being in a full blown depression. :whatever:

Quote
GDP accelerates to 1.9% pace in 2nd quarter
Domestic demand falls for second time in the past three quarters

WASHINGTON (MarketWatch) -- Boosted by stimulus checks from Uncle Sam and a big drop in imports, real growth in the U.S. economy accelerated in the second quarter to a 1.9% annual rate, the Commerce Department reported Thursday.

Consumer spending was supported by the largest increase in disposable personal income in six years, thanks largely to about $80 billion in tax-rebate checks from Washington.

The economy was held back by the crumbling housing market and by a huge drop in inventories. Investments in equipment and software also fell during the quarter.

Annual revisions in the report also showed that the economy contracted in the fourth quarter of 2007, falling 0.2% for the first drop in real gross domestic product since the recession of 2001. The economy grew at a revised 0.9% annual rate in the first quarter.

Second-quarter growth in real GDP was close to the 2.3% expected by economists surveyed by MarketWatch.

more
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Offline Airwolf

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Re: GDP accelerates to 1.9% pace in 2nd quarter
« Reply #1 on: July 31, 2008, 09:40:08 PM »
But it is that horible Bush economy and alll that............ oh crap.(End DU mode)
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Offline Wretched Excess

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Re: GDP accelerates to 1.9% pace in 2nd quarter
« Reply #2 on: July 31, 2008, 10:37:41 PM »


the fact that this unequivocally good economic news was spun as somehow disappointing economic news by the MSM was as big a story as the increase in GDP in some quarters of the MSM and all of the blogosphere today.

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Offline DumbAss Tanker

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Re: GDP accelerates to 1.9% pace in 2nd quarter
« Reply #3 on: August 01, 2008, 09:37:05 AM »
Well, looks like the ol' Dems ain't gonna be able to fling that "R" word around in October, bet the crying towels are being distributed even now...
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Offline Chris_

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Re: GDP accelerates to 1.9% pace in 2nd quarter
« Reply #4 on: August 01, 2008, 11:50:17 AM »
That number will probably be revised upward some time next month (they never seem to get it right the first time) with even less news coverage.
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Offline TheSarge

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Re: GDP accelerates to 1.9% pace in 2nd quarter
« Reply #5 on: August 01, 2008, 11:56:38 AM »
Pelosi was still trying to push the myth yesterday that the economy is in recession as she was groveling for more anouther round of stimulus checks from W.
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Offline Chris

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Re: GDP accelerates to 1.9% pace in 2nd quarter
« Reply #6 on: August 28, 2008, 03:32:27 PM »
Economy Grew 3.3% in 2nd Quarter, Much Higher Than Initial Reading
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The U.S. economy grew much faster than originally thought from April to June, but the pace is expected to slow over the rest of the year.

Gross domestic product grew at a seasonally adjusted 3.3% annual rate during the second quarter, according to the Commerce Department, which originally put growth at a 1.9% pace. The revision, released Thursday, reflects new data showing that exports were even stronger than first estimated and that business inventories weren't depleted as much as thought earlier.

"The U.S. economy has been quite resilient one year into this credit debacle," said Michael Darda, chief economist and director of research at MKM Partners in Greenwich, Conn. But, he said, "with the labor market softening and the credit markets getting more stressed, it's too soon to breathe a sigh of relief."

Of course... :whatever:
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Offline Jim

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Re: GDP accelerates to 1.9% pace in 2nd quarter
« Reply #7 on: August 28, 2008, 03:34:37 PM »
damn the CHimperor and his damn economy

damn damn damn
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Offline miskie

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Re: GDP accelerates to 1.9% pace in 2nd quarter
« Reply #8 on: August 28, 2008, 05:36:47 PM »
Quote from: DumbAss Tanker on August 01, 2008, 09:37:05 AM
Well, looks like the ol' Dems ain't gonna be able to fling that "R" word around in October, bet the crying towels are being distributed even now...

They will fling it anyway. Truth matters not.
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Offline Crazy Horse

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Re: GDP accelerates to 1.9% pace in 2nd quarter
« Reply #9 on: August 28, 2008, 06:41:02 PM »
Quote from: DumbAss Tanker on August 01, 2008, 09:37:05 AM
Well, looks like the ol' Dems ain't gonna be able to fling that "R" word around in October, bet the crying towels are being distributed even now...

Sure as hell hasn't stopped em yet.  They've been using it for the past 8 years
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Offline Wretched Excess

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Re: GDP accelerates to 1.9% pace in 2nd quarter
« Reply #10 on: August 28, 2008, 06:44:57 PM »

this thread has been overtaken by even less gloomy news:

Economy Grew 3.3% in 2nd Quarter, Much Higher Than Initial Reading
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Offline rich_t

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Re: GDP accelerates to 1.9% pace in 2nd quarter
« Reply #11 on: August 29, 2008, 12:43:44 AM »
Quote from: Wretched Excess on August 28, 2008, 06:44:57 PM

this thread has been overtaken by even less gloomy news:

Economy Grew 3.3% in 2nd Quarter, Much Higher Than Initial Reading


Obama and ilk ain't gonna like that.
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