U.S. GDP Growth Revised Up to Strongest Expansion in Two Years

[jpak]

Source: Wall Street Journal

WASHINGTON—U.S. economic growth last quarter was stronger than initially thought and corporate profits rose, signs of continued health in the world’s largest economy.

Gross domestic product, a broad measure of the goods and services produced across the economy, expanded at an inflation- and seasonally adjusted annual rate of 3.2% in the third quarter, the strongest growth in two years, the Commerce Department said Tuesday.

Economists surveyed by The Wall Street Journal expected growth would be revised up to a 3.0% pace from last month’s initial estimate of 2.9%. Growth accelerated from the second quarter’s more modest 1.4% pace.

The latest data showed stronger consumer spending over the summer compared with the government’s initial estimate, but business investment was weaker than earlier thought.

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Read more: http://www.wsj.com/articles/u-s-gdp-growth-revised-up-corporate-profits-rose-in-third-quarter-1480426301

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Just in time for the GOP to crash the economy - again.

[leftynyc]

1. No - they wont crash it

right away. They'll simply take credit for all the things Pres Obama and Democrats did to make it happen. THEN they'll crash it.

[CountAllVotes]

2. They will "drain the swamp" first

and on their merry little way they shall go with lots of what you may have left to be found in their greedy LITTLE hands!

[leftynyc]

7. I see don the con

just picked Pres Bush's Secy of Labor for Transportation. He must have a different definition of draining the swamp than the rest of the thinking world.

[bigdarryl]

3. Enjoy it because after Jan 21st all bets are off

My bet is the republicans and Trump will fuck shit up with there LARGEST tax cut in history to the rich.Recession up!!!

[vinny9698]

4. And with the repeal of Dodd Frank, the bankers already know they won't be punished but rewarded.

They already know the game plan, no jail, large bonuses at tax payers expense, and walk away with millions. Get out of the stock market now. The restrictions free bailouts are coming. And of course it will be Obama's fault.

[William Seger]

5. And wages went up how much? (nt)

[DallasNE]

6. This Is Thanks, In Large Measure,

To the increase in the minimum wage adopted in several States and nationally for work performed in federal contracts, thanks to an executive order signed by President Obama. And what will Trump do regarding that executive order. People will be in for a rude awakening in 2017. Very rude awakening.