The Briefing Room

General Category => Economy/Business => Topic started by: Frank Cannon on August 29, 2018, 01:19:07 pm

Title: Q2 GDP Revised Higher To 4.2%, Strongest In 4 years
Post by: Frank Cannon on August 29, 2018, 01:19:07 pm

https://www.zerohedge.com/news/2018-08-29/q2-gdp-revised-higher-42-strongest-4-years (https://www.zerohedge.com/news/2018-08-29/q2-gdp-revised-higher-42-strongest-4-years)

Quote

After bursting higher in second quarter, when according to the first estimate of Q2 GDP, the US economy grew at an annualized 4.1% rate, moments ago the BEA reported that according to its second estimate of second quarter GDP, the US grew at an even stronger, 4.23% rate - higher than the 4.0% estimate, and the highest since the summer of 2016 - at a time when the Trump's $1.5 trillion fiscal stimulus was boosting the US economy.

Title: Second quarter even stronger than it first looked: GDP raised to 4.2% from 4.1%
Post by: endicom on August 29, 2018, 01:19:32 pm

Market Watch
Jeffry Bartash
Aug. 29, 2018

The numbers: The bustling U.S. economy was even stronger in the spring than initially reported thanks to higher government spending and business investment. And companies cashed in big time.

Gross domestic product expanded at a 4.2% annual pace in the second quarter, up from a preliminary estimate of 4.1%, the government said. GDP is the official measuring stick for the U.S. economy.

Economists polled by MarketWatch had forecast GDP to be left unchanged at 4.1%.

The strong growth, along with the biggest tax cuts in 31 years, helped fill corporate coffers.

More... https://www.marketwatch.com/story/second-quarter-was-even-stronger-than-it-first-looked-gdp-raised-to-42-from-41-2018-08-29?mod=newsviewer_click (https://www.marketwatch.com/story/second-quarter-was-even-stronger-than-it-first-looked-gdp-raised-to-42-from-41-2018-08-29?mod=newsviewer_click)

Title: Re: Q2 GDP Revised Higher To 4.2%, Strongest In 4 years
Post by: endicom on August 29, 2018, 01:32:24 pm

Topics merged.

Title: Re: Q2 GDP Revised Higher To 4.2%, Strongest In 4 years
Post by: Frank Cannon on August 29, 2018, 01:34:17 pm

Quote from: endicom on August 29, 2018, 01:32:24 pm

Topics merged.

I think this news is so exciting that every response post should be it's own thread.

Title: Re: Q2 GDP Revised Higher To 4.2%, Strongest In 4 years
Post by: endicom on August 29, 2018, 01:56:21 pm

Quote from: Frank Cannon on August 29, 2018, 01:34:17 pm

I think this news is so exciting that every response post should be it's own thread.

That was its own thread, posted seconds after yours. I merged them to provide a second source and to help eliminate the usual mystery of the missing thread.

Title: Re: Q2 GDP Revised Higher To 4.2%, Strongest In 4 years
Post by: skeeter on August 29, 2018, 01:57:25 pm

Of course the GDP barely made it over 2% for all of 2016 so the headline is a tad misleading.

Title: Re: Q2 GDP Revised Higher To 4.2%, Strongest In 4 years
Post by: SirLinksALot on August 29, 2018, 03:57:09 pm

Again my friends, there is reason to be optimistic.

But let's not get ahead of ourselves. THIS IS ONE QUARTER.

Obama had a 4.9% GDP in one quarter as well but that amounted to very little in terms of the ANNUAL GDP.

(https://encrypted-tbn0.gstatic.com/images?q=tbn:ANd9GcSJqfbA3j1hgUPYAsyrcRSXelhu3yFhiC83b9nuYVvaw19vmLyF5A)