U.S. Economy Grew 4% in Second Quarter
Source: NY Times
The United States economy rebounded in the spring after a dismal winter, the Commerce Department reported on Wednesday, growing at an annual rate of 4 percent for the three months from April through June.
In its initial estimate for the second quarter, the government cited gains in personal consumption spending, exports and private inventory investment as the main contributors to growth. The increase exceeded economists expectations and further cemented their views that the decrease in Americas overall output during the first quarter was most likely a fluke tied in large part to unusually stormy winter weather as well as other anomalies. Any dip in gross domestic product outside of an official recession is considered rare.
...
During the first quarter, output shrank by 2.1 percent, less than had been reported, according to the Commerce Departments newly revised G.D.P. figures, also released on Wednesday. The department had previously said first-quarter output decreased 2.9 percent.
...
Economists had been hoping for a full reversal of the first quarters decline. The consensus forecast for G.D.P. was 3 percent.
Read more: http://www.nytimes.com/2014/07/31/business/economy/us-economy-grew-4-in-second-quarter.html
Saw the NYT breaking banner.
Botany
(70,582 posts).... sue the President.
geretogo
(1,281 posts)Swede Atlanta
(3,596 posts)Obama is cooking the books! There is no way with all the "non work" and obstruction we have done over the past 6 years these numbers are real.
Finally in the 1Q2014 the results of our efforts were starting to bear fruit with a contraction in the economy and hopefully more job losses for Americans!!!! So there is no way the economy then grew at 4% in the 2nd quarter. Obama must be manipulating the numbers.
So will go the babble from the right. They will really be mad if the economy is actually growing. Obama cannot succeed!!!
lunasun
(21,646 posts)Obama cannot have success
If you want to see an example of "those patriots" wanted to see America fail look
@ what they are doing to the highway trust fund.
lunasun
(21,646 posts)Trust funding is an immediate need
Band aids are not the answer
Oh by the way it may create some jobs which they do not want to see happen either
Patridiots rather see this country crumble
KinMd
(966 posts)and these economic numbers were the same, all you'd hear from the right would be about the "Romney Miracle"
n2doc
(47,953 posts)All the recession would be Obama's fault, all the recovery would be Mitt's Miracle.
Except I do think Mittens would have screwed things up. He would have gone for another deficit-busting tax cut for the rich, coupled with cuts in the safety net, and privatization. Oh year, probably more war too, in Iraq, Syria and maybe Iran. Things might not have turned out so well.
Cosmocat
(14,572 posts)Any point since then to now, that absolutely would be what republicans, and by extension the "liberal media" would be championing. It would be the cover of time/newsweek, him smiling and looking all Ken Doll, everyone would be babbling about how great of a economic genius he was.
IronLionZion
(45,528 posts)so impeach the President!
Triana
(22,666 posts)candelista
(1,986 posts)sendero
(28,552 posts).... but he will take the blame or the credit anyway.
Everyone should remember that the first quarter was up 0.1% until they revised it down 2.9% later.
Kingofalldems
(38,476 posts)BumRushDaShow
(129,456 posts)and saw this -
http://abcnews.go.com/Business/story?id=3544306
A comment by a fly-by-night Red-state-focused residential private equity entity promoted here as some sort of authority. The entire article (supposedly from USA Today) is spun so much that the author could easily be hired as a fracking site driller.
Robbins
(5,066 posts)This was better than expected.
This Is the obama economy growing more than expected.Congress does nothing because of tea party controlled House.
Hell we have more a Do nothing congress than one Harry truman ran against In 1948.
Just Imagine what could be done If we had a congress or more accuratly a House that would actully do it's job and work with president
instead of saying no to everything and stop being more intrested in suing or impeachment than doing their job for the country.
candelista
(1,986 posts)President Obama does not control the economy. He is not to blame when it crashes, and he is not responsible when it "improves."
Kingofalldems
(38,476 posts)If it goes bad it's Obama's fault.
Blue Idaho
(5,057 posts)What that number would look like if we didn't have a bunch of political saboteurs dedicated to stopping every economic initiative proposed over the last six years... Now imagine what America would look like if the focus was on full employment and living wages.
There is much left to be done.
hughee99
(16,113 posts)I'm guessing roughly 3%, but still, that's much better than the first quarter.
whatthehey
(3,660 posts)Including that first quarter blip.