What do the naysayers say now?
Thanks Obama! Obama one step closer to reelection!
The nation’s gross domestic product, the broadest measure of its economic health, grew at a 2.5 percent annual rate in the quarter after adjusting for inflation. That’s up from the disappointing 1.3 percent growth in the second quarter and the anemic 0.4 percent pace in the first three months of the year.
I bookedmarked this thread for when the revision come out.
… Europe Union leaders come to an agreement on Greece, Dow gains 250 points …
HILARITY ENSUES.
**What do the naysayers say now? **
Considering average from 1947 to thru 2011 is 3.28% annually…not much. If I’ve done my math right we are looking at 1.4% annual growth so far, before 3rd quarter adjustments…which I really can’t remember the last time they were adjusted up.
~Matt
You mean like how the Q2 estimate went from 1.0% (second estimate) to 1.3% (third estimate), which was the original estimate? Or how the Q1 estimate went from 1.8 to 1.8 to 1.9? Or how the Q42010 went from 3.2 to 2.8 and back to 3.1%?
What’s your prediction? I hope you do better than you did with the employment numbers.
**What do the naysayers say now? **
Considering average from 1947 to thru 2011 is 3.28% annually…not much. If I’ve done my math right we are looking at 1.4% annual growth so far, before 3rd quarter adjustments…which I really can’t remember the last time they were adjusted up.
~Matt
Both the first and second quarters of 2011 have been getting revised upward.
Yep, things are just rosy out here in the private sector.
… Europe Union leaders come to an agreement on Greece, Dow gains 250 points …
HILARITY ENSUES.
Ahh yes, double counting funds already pledged by the same states that need the bailouts in the calculation used to get to the newly leveraged ESFS figure is really going to work.
I for one am glad that all the structural issues in Europe are finally solved and put to bed…yayyyyy!!!
Who would have thought that using leverage to solve a debt problem was so effective and easy, man, I wonder what took them so long.
HILLARITY ENSUES!!!
<Who would have thought that using leverage to solve a debt problem was so effective and easy, man, I wonder what took them so long.>
LOL!
Both the first and second quarters of 2011 have been getting revised upward.
Maybe revised upward from the initially revised major downward numbers but I’m talking about the first revision after the the first number. IIRC the first quarter when WAY down and the second quarter when down as well.
In fact I just looked at what was posted and the first quarter went from 1.9% to .4% which is HUGE…and down, not up. Now maybe that .4 has been revised up to something, not sure.
~Matt
I guess a “.S.” economy must be one that squiggles back and forth.
Personally, I don’t claim to have any crystal balls (just ones of the non-crystal kind), but the last three paragraphs of the article give a much darker picture than the part you quoted.
… Europe Union leaders come to an agreement on Greece, Dow gains 250 points …
HILARITY ENSUES.
How much stock do you have invested in Greece in the Dow index fund?
Both the first and second quarters of 2011 have been getting revised upward.
Maybe revised upward from the initially revised major downward numbers but I’m talking about the first revision after the the first number. IIRC the first quarter when WAY down and the second quarter when down as well.
In fact I just looked at what was posted and the first quarter went from 1.9% to .4% which is HUGE…and down, not up. Now maybe that .4 has been revised up to something, not sure.
~Matt
Ding, ding ding we have a winner.
Funny how such a basic understanding of the GDP revision process is lost on many.
Shakes head walks away.
Waht comprises the GDP? Besides, I thought you were invested in gold? How’s that going for you?
Or how the Q1 estimate went from 1.8 to 1.8 to 1.9? Or how the Q42010 went from 3.2 to 2.8 and back to 3.1%?
According to the Tables HERE at the US department of Commerce GDP for Q4 10’ was 2.3, Q1 11’ was .4 and Q2 11’ was 1.3. I believe the “Advanced” number was 1.9% for Q1 11’ and 1.8% Q2 11’ Both down.
~Matt
I think I have found the answer to our economic problems based on this new information…
It seems there is a correlation between the amount of time the President spends campaigning for next year’s election, and the approaching election itself, and the improvement in the economic data. So, the way I see it, if we can extend out the election and keep him campaigning, our economy will look better and better.
Is that number annualized or only for the quarter?
Ah, okay, here’s the info for 2011:
Quarter 1:
Advanced Release: 1.8%
2nd Revision (May 26): 1.8%
3rd Revision (June 24):1.9%
From Q2 Advanced (July 29): 0.4%
Quarter 2:
Advanced (July 29): 1.3%
2nd Revision (August 26): 1.0%
3rd Revision (September 29): 1.3%
From Q3 Advanced (October 27): 1.3%
Quarter 3:
Advanced (October 27): 2.5%
I was looking at the specific Q1 revision releases, which show it up, but then in the Q2 reports they revised it back down. My fault. Q1 was indeed revised down drastically after being revised steady and then up. Q2 was revised down then back up to it’s original number and has held there.
Dude, sorry but he has been campaigning since the inauguration; just having more “giveaways” now that we are getting closer to 2012.