US Economic Growth Rate Heading Down Again

[Paperback Writer]

http://www.bbc.com/news/business-26387690

The US economy grew at a much slower rate from October to December than originally predicted, the US Commerce Department said.


US gross domestic product (GDP) grew at an annualised rate of 2.4% in the fourth quarter of 2013, down from an initial estimate of 3.2%.


The revision is down to weaker than expected consumer spending.


Severe winter weather in the US is expected to slow growth further in the current quarter.

[darroll]

No one can tell our leaders how to fix the economy they will spend their way to prosperity.

[nic34]

Suggestion: Sell your stocks and buy water.... :wink:

[RNG]

Does anyone remember any time a revision in either unemployment or GDP from the US, Canadian or UK government (which is the range I see in this thread right now) has been to a higher number? Do you notice how usually the initial number is on page one and the revision is a fair bit deeper? I wonder why?

[Cigar]

Suggestion: Sell your stocks and buy water.... :wink:

For my Beer :laugh:

[Bob]

From post #1.


Severe winter weather in the US is expected to slow growth further in the current quarter.

Damned Global warming anyway.

[Ethereal]

It's because taxes are too low and we're not spending enough on government programs, I'm sure of it.

[RNG]

It's because taxes are too low and we're not spending enough on government programs, I'm sure of it.The global warming?:)

[Ethereal]

The global warming?:)

The end is nigh!

[Peter1469]

US initial reports have been upgraded a few times. More often they are downgraded.


Does anyone remember any time a revision in either unemployment or GDP from the US, Canadian or UK government (which is the range I see in this thread right now) has been to a higher number? Do you notice how usually the initial number is on page one and the revision is a fair bit deeper? I wonder why?

[Mainecoons]

Suggestion: Sell your stocks and buy water.... :wink:

Screw water, buy Tequila!

Water rusts the stomach. Didn't anyone tell you this? You'll never live to be my age if you drink that shit.

[Ransom]

More often downgraded though presents problems. For the adjustments should be upward, late reporting the usual reason. Tax returns, audit reports, financial numbers don't always come in time for the 'initial' releases.....the number should adjust up. And the point made was solid, how can one have a whopping .08 decrease and think to ever trust the initial number again? Our GDP nears 16 trillion, the difference between a 3.2% and 2.4% growth rate isn't small nor difficult math. How does that happen. Accounting for numbers late arriving the adjustment down is probably closer to a full % point. Too large, someone in the Commerce Debt needs to explain.

[Polecat]

I'm no economist but I have observed that energy costs lead our economy around by the nose.

[donttread]

Where is this economic growth occurring? Certainly not in Northern New York.

[Ransom]

I'm no economist but I have observed that energy costs lead our economy around by the nose.

Entitlement spending and markets abroad the lead dogs

[Ransom]

Where is this economic growth occurring? Certainly not in Northern New York.

Washington DC

http://www.nytimes.com/2013/01/13/magazine/washingtons-economic-boom-financed-by-you.html?pagewanted=all

[Peter1469]

I'm no economist but I have observed that energy costs lead our economy around by the nose.

They certainly govern consumption.

[Peter1469]

Yes, my condo went up $100K+ in value last year.


Washington DC

http://www.nytimes.com/2013/01/13/magazine/washingtons-economic-boom-financed-by-you.html?pagewanted=all

[Paperback Writer]

It's because taxes are too low and we're not spending enough on government programs, I'm sure of it.
Gerrard Winstanley

do you see what I mean? The other forum cannot supply this. Droll is a limited commodity there. Well done, Ethereal. Well done.

[Ransom]

Yes, my condo went up $100K+ in value last year.

Congrats, my suburban single family home has remained relatively stagnant in value. This economy and indecision managing it hurts.

[Mainecoons]

Yes, my condo went up $100K+ in value last year.

Because you are living in a parasitical town that prospers while its residents choke the life out of America.

I'm not including you in the parasitical part, you know what is going on. But you are benefiting from their actions.

[Peter1469]

Because you are living in a parasitical town that prospers while its residents choke the life out of America.

Well it was overpriced to begin with. I am happy it came back from the crash.