The Briefing Room

General Category => Economy/Business => Topic started by: endicom on July 27, 2018, 12:38:57 pm

Title: U.S. second-quarter GDP accelerates to 4.1% annual rate
Post by: endicom on July 27, 2018, 12:38:57 pm

Market Watch
Greg Robb
July 27, 2018

WASHINGTON (MarketWatch) - U.S. economic growth accelerated to an annual rate of 4.1% in the second quarter, compared with a revised 2.2% in the first quarter, the Commerce Department said Friday. This is the fastest rate of growth in almost four years.

More... https://www.marketwatch.com/story/us-second-quarter-gdp-accelerates-to-41-annual-rate-2018-07-27?mod=newsviewer_click (https://www.marketwatch.com/story/us-second-quarter-gdp-accelerates-to-41-annual-rate-2018-07-27?mod=newsviewer_click)

Title: Second-quarter GDP jumps 4.1% for best pace in nearly four years
Post by: mystery-ak on July 27, 2018, 01:07:39 pm

Second-quarter GDP jumps 4.1% for best pace in nearly four years
Jeff Cox   | @JeffCoxCNBCcom
Published 35 Mins Ago Updated 2 Mins Ago

Gross domestic product grew at a solid 4.1 percent pace in the second quarter, its best pace since 2014, boosting hopes that the economy is ready to break out of its decade-long slumber.

The number matched expectations from economists surveyed by Reuters and was boosted by a surge in consumer spending and business investment. Stock market futures edged lower on the news while government bond yields moved lower.

That's the fastest rate of the growth since the third quarter of 2014 and the third-best growth rate since the Great Recession. In addition to the strong second quarter, the Commerce Department revised its first-quarter reading up from 2 percent to 2.2 percent.

more
https://www.cnbc.com/2018/07/27/us-gdp-q2-2018.html (https://www.cnbc.com/2018/07/27/us-gdp-q2-2018.html)

Title: Re: Second-quarter GDP jumps 4.1% for best pace in nearly four years
Post by: mystery-ak on July 27, 2018, 01:10:15 pm

Media slams GDP boom: ‘Don’t buy it,’ ‘Blip,’ ‘Too big’
https://www.washingtonexaminer.com/washington-secrets/media-slams-gdp-boom-dont-buy-it-blip-too-big (https://www.washingtonexaminer.com/washington-secrets/media-slams-gdp-boom-dont-buy-it-blip-too-big)

Title: Re: U.S. second-quarter GDP accelerates to 4.1% annual rate
Post by: endicom on July 27, 2018, 01:17:00 pm

Topics merged.

Title: Re: Second-quarter GDP jumps 4.1% for best pace in nearly four years
Post by: endicom on July 27, 2018, 01:20:02 pm

Quote from: mystery-ak on July 27, 2018, 01:10:15 pm

Media slams GDP boom: ‘Don’t buy it,’ ‘Blip,’ ‘Too big’
https://www.washingtonexaminer.com/washington-secrets/media-slams-gdp-boom-dont-buy-it-blip-too-big (https://www.washingtonexaminer.com/washington-secrets/media-slams-gdp-boom-dont-buy-it-blip-too-big)

It may be something of a blip, and could be revised up or down, but above 3% going forward would still be good.

 

Title: Re: Second-quarter GDP jumps 4.1% for best pace in nearly four years
Post by: SirLinksALot on July 27, 2018, 02:14:42 pm

Quote from: endicom on July 27, 2018, 01:20:02 pm

It may be something of a blip, and could be revised up or down, but above 3% going forward would still be good.

Not to burst anybody's bubbles, but Obama had an even better quarter before. See here:

(https://bea.gov/newsreleases/national/gdp/2018/_images/gdp2q18_adv_chart.png)

I'd like to see YEAR OVER YEAR GDP

Title: Re: U.S. second-quarter GDP accelerates to 4.1% annual rate
Post by: edpc on July 27, 2018, 02:31:56 pm

Mulvaney said, “I actually think things could get even better because I don’t think you’ve seen the full impact of the tax bill into the overall economy.”


Why?  Because in their haste to get it passed, it's full of errors that won't be corrected until fall. 

http://thehill.com/policy/finance/396780-ryan-expects-bill-on-tax-fixes-to-come-out-at-the-end-of-the-year (http://thehill.com/policy/finance/396780-ryan-expects-bill-on-tax-fixes-to-come-out-at-the-end-of-the-year)

Title: Re: Second-quarter GDP jumps 4.1% for best pace in nearly four years
Post by: endicom on July 27, 2018, 02:33:03 pm

Quote from: SirLinksALot on July 27, 2018, 02:14:42 pm

Not to burst anybody's bubbles, but Obama had an even better quarter before. See here:

(https://bea.gov/newsreleases/national/gdp/2018/_images/gdp2q18_adv_chart.png)

I'd like to see YEAR OVER YEAR GDP

No bubbles burst as that was...right...there...in...the...articles.

Title: Re: Second-quarter GDP jumps 4.1% for best pace in nearly four years
Post by: LMAO on July 27, 2018, 03:50:00 pm

Quote from: SirLinksALot on July 27, 2018, 02:14:42 pm

Not to burst anybody's bubbles, but Obama had an even better quarter before. See here:

(https://bea.gov/newsreleases/national/gdp/2018/_images/gdp2q18_adv_chart.png)

I'd like to see YEAR OVER YEAR GDP

 If this continues, we could once again see yearly 3 to 4% GDP.  The last time we had that, I believe, was 2005

And if we start seeing robust  yearly growth in the economy, that would thoroughly discredit the economic policies of Barack Obama

Title: Re: U.S. second-quarter GDP accelerates to 4.1% annual rate
Post by: edpc on July 28, 2018, 03:13:55 am

(https://s.yimg.com/ny/api/res/1.2/24pOVSyCmoOvAtV5zEe12Q--/YXBwaWQ9aGlnaGxhbmRlcjt3PTY0MDtoPTE4MS4xOTA3NjU0OTIxMDIwNg--/https://s.yimg.com/uu/api/res/1.2/YsXquNJ7DgzFjrI1neatOw--~B/aD00NjY7dz0xNjQ2O3NtPTE7YXBwaWQ9eXRhY2h5b24-/http://media.zenfs.com/en/homerun/feed_manager_auto_publish_494/a45e3a7f17077c2ae29c9c32c576c0d4)


Agricultural exports like soy and corn spiked before the tariffs and were a huge contributor.