2nd qtr GDP revised to 3%!

[bambino]

It only took Trump 6 months to get there. Although the WSJ stated the best GDP in 2 yrs, it's actually 8. So SnitchFuck, you and Stockman can go suck a cock. If you're not already there:

https://www.wsj.com/amp/articles/u-s...ter-1504096685

Obamas dismal GDP:

http://www.zerohedge.com/news/2017-0...r-3-gdp-growth

[dilbert firestorm]

Originally Posted by bambino

It only took Trump 6 months to get there. Although the WSJ stated the best GDP in 2 yrs, it's actually 8. So SnitchFuck, you and Stockman can go suck a cock. If you're not already there:

https://www.wsj.com/amp/articles/u-s...ter-1504096685

Obamas dismal GDP:

http://www.zerohedge.com/news/2017-0...r-3-gdp-growth

bambino, you need to copy the article from WSJ from its paywall.

[lustylad]

Dilbert, you need to subscribe.

U.S. GDP Growth Revised Up to 3% Pace in the Second Quarter

The U.S. economy appears to have momentum going into the second half of the year

By Ben Leubsdorf
Updated Aug. 30, 2017 3:33 p.m. ET

WASHINGTON—The U.S. economy expanded at its most robust pace in more than two years in the spring and appears to have momentum going into the second half of the year, supported by solid consumer spending and a pickup in business investment.

Gross domestic product, a broad measure of the goods and services produced across the U.S., rose at a seasonally and inflation-adjusted annual rate of 3% in the second quarter, the Commerce Department said Wednesday. That was the strongest quarter in more than two years and some forecasters expect growth will remain around that pace in the third quarter.

Since the recession ended in mid-2009, economic growth has fluctuated from quarter to quarter while averaging a little more than 2% a year. It is far from clear that a sustained breakout from that modest pace was building as the expansion entered its ninth year; similar past accelerations have proven fleeting. But some promising trends are under way, including a global pickup in growth supporting exports, rising employment supporting household income and spending, and robust corporate profits and confidence, supporting investment.

For now, at least, there is little sign of an imminent downturn.

“Typically in a business expansion, you would see growth start to arc downward as we get later into the cycle,” said Ellen Zentner, chief U.S. economist at Morgan Stanley. But so far, she said, the pace of growth has remained steady: “It’s incredible to sustain this kind of momentum this far into a business expansion.”

Wednesday’s report was an upgrade from the 2.6% GDP growth pace the government had reported last month based on less-complete data. The upward revision reflected stronger household and business spending, offset in part by a sharper pullback in outlays by state and local governments.

Hitting 3% growth was notable because President Donald Trump has said he wants to lift annual economic growth above 3% in a sustained fashion by rolling back regulations, overhauling the tax code and enacting other policy changes.

“We just announced that we hit 3% in GDP. It just came out,” Mr. Trump said Wednesday during an event in Springfield, Mo., referring to the quarterly figures released by the Commerce Department. “And on a yearly basis, as you know, the last administration during an eight-year period never hit 3%. So we’re really on our way.”

The quarterly GDP growth rate was above 3% eight times during President Barack Obama’s eight years in office. GDP growth exceeded 3% in four quarters on a year-over-year basis, though it never grew 3% over a calendar year.

Consumer, business and investor optimism have all jumped since Mr. Trump’s election last year. Other forces supporting U.S. economic activity were under way well before Mr. Trump took office, including the falling unemployment rate, stabilization in oil prices and an upswing in global growth.

Many forecasters expect economic growth will remain modest in the coming years, shaped by long-term demographic and other forces including slow worker productivity growth. Federal Reserve policy makers’ median projection in June was for 2.2% growth this year followed by 2.1% growth in 2018 and 1.9% growth in 2019.

“It is absolutely possible at times to have growth fluctuate and hit 3%, but to sustain 3% would imply a much larger and faster growing labor force than we have and a higher rate of productivity,” Ms. Zentner said.

Since the recession ended in mid-2009, the economy’s quarterly growth rate has bounced as high as 5.2%, while at times output has briefly contracted. Over the past 12 months, GDP expanded 2.2%, roughly in line with the expansion average.

Looking ahead, some forecasters see more solid growth over the summer; forecasting firm Macroeconomic Advisers on Wednesday projected a 3.4% growth rate for the third quarter.

IHS Markit Chief Economist Nariman Behravesh warned Hurricane Harvey could cause volatility in economic indicators for the second half of 2017, potentially reducing third-quarter growth and raising economic activity in the fourth quarter.

The details of Wednesday’s report on the second quarter were broadly positive, including the strongest consumer-spending growth in a year. Household outlays rose at a 3.3% annual pace last quarter, up from a 1.9% rate in the first three months of the year.

Home-improvement retailer Lowe’s Cos. said last week it expected 3.5% growth in same-store sales this year.

”Persisting job and income gains should continue to drive disposable income growth, and favorable revolving credit usage continues to hover near the highest rates of the current economic expansion, supplementing the spending power generated by stronger incomes,” Chief Executive Robert Niblock told analysts.

Business investment was strong for a second-straight quarter, with fixed nonresidential investment rising at a 6.9% annual pace following 7.2% growth in the first quarter.

“Later in the business cycle, as the labor market has tightened and wage costs rise, the higher labor costs start to incentivize capex,” Ms. Zentner said.

One weak spot in the second quarter: Spending by state and local governments fell at an annual rate of 1.7%, the sharpest pullback since late 2012. Public spending on infrastructure and other construction projects has slumped over the past few years.

Wednesday’s report also included the government’s first estimate for profits at U.S. corporations during the second quarter. After-tax profits, without inventory valuation and capital consumption adjustments, fell 1.4% in the second quarter after rising 1.3% in the first quarter.

Second-quarter profits were up 8.1% from a year earlier, down from 11.8% annual growth in the first quarter but still robust.

Corporate profits deteriorated in 2015 as falling oil prices squeezed the domestic energy industry and a strong dollar damped demand for U.S. exports.

But earnings began to recover last year as crude prices stabilized and exporters are getting a boost because the dollar has weakened since early this year.

[WTF]

Jesus...do you numbnuts know the difference between annual gdp growth and quarterly?

How many quarters did Obama have over 3%? Did you tout those?

I think somebody needs to school our Pissburg homo's on the difference in true economics and partisan hucksters. Or maybe they know they are homo hucksters.


.

[Yssup Rider]

Yep. Dum, da dum DUMBBBBBB!

[WTF]

Originally Posted by lustylad

Dilbert, you need to subscribe.

“Typically in a business expansion, you would see growth start to arc downward as we get later into the cycle,” said Ellen Zentner, chief U.S. economist at Morgan Stanley. But so far, she said, the pace of growth has remained steady: “It’s incredible to sustain this kind of momentum this far into a business expansion.”


.

subscribe dilbert....but do not have these two numbnutted partisan hack try and explain it to you.

They take the same numbers Obama had and make it seem as if Trump is the reason for some economic turnaround!

[Guest050619-1]

Originally Posted by WTF

How many quarters did Obama have over 3%?

[bambino]

Originally Posted by WTF

Jesus...do you numbnuts know the difference between annual gdp growth and quarterly?

How many quarters did Obama have over 3%? Did you tout those?

I think somebody needs to school our Pissburg homo's on the difference in true economics and partisan hucksters. Or maybe they know they are homo hucksters.


.

You're the clown that posted the link from Stockman stating the US will never reach 3% GDP. I'm merely pointing out that Trump got there in 90 days. I'll make you a bet Snitchy. Trumps GDP will be higher than Obamas annualized GDP. That's kinda like betting Stanford against Rice.

[WTF]

Originally Posted by bambino

You're the clown that posted the link from Stockman stating the US will never reach 3% GDP. I'm merely pointing out that Trump got there in 90 days. I'll make you a bet Snitchy. Trumps GDP will be higher than Obamas annualized GDP. That's kinda like betting Stanford against Rice.

You obviously do not even read your own links!

Many forecasters expect economic growth will remain modest in the coming years, shaped by long-term demographic and other forces including slow worker productivity growth. Federal Reserve policy makers’ median projection in June was for 2.2% growth this year followed by 2.1% growth in 2018 and 1.9% growth in 2019.

“It is absolutely possible at times to have growth fluctuate and hit 3%, but to sustain 3% would imply a much larger and faster growing labor force than we have and a higher rate of productivity,” Ms. Zentner said.

[bambino]

Originally Posted by WTF

You obviously do not even read your own links!

Many forecasters expect economic growth will remain modest in the coming years, shaped by long-term demographic and other forces including slow worker productivity growth. Federal Reserve policy makers’ median projection in June was for 2.2% growth this year followed by 2.1% growth in 2018 and 1.9% growth in 2019.

“It is absolutely possible at times to have growth fluctuate and hit 3%, but to sustain 3% would imply a much larger and faster growing labor force than we have and a higher rate of productivity,” Ms. Zentner said.

Those are predictions fucknuts. Just like you betting on Auburn winning the NCAA championship against FSU! Even "experts" like you can get it wrong!!!! Now, do you still want to bet?

[lustylad]

Originally Posted by WTF

Jesus...do you numbnuts know the difference between annual gdp growth and quarterly?.

I'll be glad to edumacate you, fagboy. Start with the number of cocks you sucked last week/month/quarter (before seasonal adjustment). To annualize, just multiply by 52/12/4. Then calculate the % by which the number differs from the previous period annualized and you have the growth rate.

Is that simple enough for a simple-minded simpleton like you?

I will skip the lessons in how to calculate quarter versus same quarter of prior year, trailing four quarters, and calendar year results since they are beyond your comprehension level.

[lustylad]

Originally Posted by Yssup Rider

Yep. Dum, da dum DUMBBBBBB!

Oinkboy, did you look up how many data series the BLS tracks for the unemployment rate yet?

Reminder - BLS does NOT stand for ball licking and sucking!

Now oink politely and run off to play in the mud with the other piglets, ok?

[WTF]

Originally Posted by lustylad

Start with the number of cocks you sucked last week/month/quarter (before seasonal adjustment). To annualize, just multiply by 52/12/4. Then calculate the % by which the number differs from the previous period annualized and you have the growth rate.

.

Ok , let me try mine first... 0 x 52 = 0

Mine came out to 0/0/0

I have yours at 7 a week, 30.4 a month and 365 yearly.

[WTF]

Originally Posted by bambino

Consumer, business and investor optimism have all jumped since Mr. Trump’s election last year. Other forces supporting U.S. economic activity were under way well before Mr. Trump took office, including the falling unemployment rate, stabilization in oil prices and an upswing in global growth.





It only took Trump 6 months to get there. Although the WSJ stated the best GDP in 2 yrs, it's actually 8. So SnitchFuck, you and Stockman can go suck a cock. If you're not already there:

Do you need help in understanding what you post? I could pluck out a shit load of other data that Trump is not responsible for...Yet your dumbass seems to want to give Trump credit for the Sun coming up.

You dollar is buying less, should Trump be credited with that?

[Yssup Rider]

That's because EATLER is eating up his own profits...