U.S. economic growth in fourth quarter unexpectedly revised up to 1%

[mahatmakanejeeves]

Source: Los Angeles Times

By Jim Puzzanghera

February 26, 2016, 6:11 AM |Reporting from Washington

The U.S. economy performed better at the end of 2015 than initially estimated, though growth still slowed sharply from earlier in the year, the Commerce Department said Friday.

The nation's total economic output, also known as gross domestic product, expanded at a 1% annual rate from October through December. That was an improvement from the initial estimate last month of 0.7% growth.

The upward revision was because of more complete data, including figures showing a much smaller decline in business inventories than in the earlier estimate, the Commerce Department said. ... Friday's report was the second of three estimates.

Analysts had expected fourth-quarter economic growth to be revised down to 0.4% Friday as the U.S. dealt with a slowing global economy and the effects of the strong dollar, which made exports more expensive abroad.

Read more: http://www.latimes.com/business/la-fi-gdp-economy-20160226-story.html

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"Friday's report was the second of three estimates."

Here's more about that:

US economy slowed to scant 0.7 pct. growth rate last quarter

Source: AP

By MARTIN CRUTSINGER

WASHINGTON (AP) — The U.S. economy's growth slowed sharply in the final three months of 2015 to a 0.7 percent annual rate. Consumers reduced spending, businesses cut back on investment and global problems trimmed exports.

The slowdown could renew doubts about the durability of the 6½-year-old economic expansion.

The government's estimate Friday of the economy's expansion in the October-December period was less than half the 2 percent annual growth rate in gross domestic product in the third quarter. It was the weakest showing since a severe winter reduced growth to a 0.6 percent annual rate in last year's first quarter.

Activity should rebound in the current January-March period, though economists worry that China's troubles and sinking oil and stock prices could dampen the recovery.

FULL story at link.

Read more: http://bigstory.ap.org/article/603b4601bc974b3c881a2fff6dfab2dd/us-economy-slowed-scant-07-pct-growth-rate-last-quarter

[yellowcanine]

1. I would like to ask an economist if slower growth is actually more sustainable than

some of the high growth rate recoveries we have had in the past. Is it possible that slower growth rate recoveries last longer?

[whatthehey]

2. I could have sworn I read on DU these data were always revised downward

[jtuck004]

3. Oooo, golly gee. From choking to death to strangling. I feel better already.

We really need to have a conversation about how to have an economy for everyone based on what we have now, instead of decades of rusted auto plants.

Based on how we used to account for things, anything under 2% strips all but a very few of increasing their assets, of opportunity.

This model of what we value and how needs to change, else we are going to get the least out of everyone. I doubt we can survive doing that.