« previous next »
Pages: [1]   Go Down

Author Topic: First-quarter GDP growth revised down to 1.3% rate  (Read 825 times)

0 Members and 1 Guest are viewing this topic.

Offline mystery-ak

  • Owner
  • Administrator
  • ******
  • Posts: 401,714
First-quarter GDP growth revised down to 1.3% rate
« on: May 30, 2024, 12:27:35 pm »
First-quarter GDP growth revised down to 1.3% rate
By
Zachary Halaschak
May 30, 2024 8:33 am
.

The economy expanded at a 1.3% seasonally adjusted annual rate in the first quarter of this year, the Bureau of Economic Analysis reported Thursday in a downward revision.

Economists had expected a slight downward revision in the second update, with the consensus forecast expecting GDP growth to be pruned to 1.2%. First-quarter GDP has fallen three-tenths of a percentage point since the preliminary report.

The latest update, the second of three, shows that first-quarter GDP growth was lower than the preceding quarter’s 3.4% clip.

The Bureau of Economic Analysis updates its GDP estimates over the course of several weeks as analysts get a better picture of how the economy performed during the first quarter.

The first quarter’s GDP reading is also a decline from all of 2023, which saw the economy expand a healthy 2.5%.

The weaker growth in the first quarter was attributable in part to slower consumer spending. That could be a response to the Federal Reserve’s efforts to curb inflation by keeping interest rates higher for longer.

more
https://www.washingtonexaminer.com/policy/finance-and-economy/3021337/first-quarter-gdp-growth-revised-down-to-1-3-rate/
Logged
Proud Supporter of Tunnel to Towers
Support the USO
Democrat Party...the Party of Infanticide

“Therefore do not worry about tomorrow, for tomorrow will worry about itself. Each day has enough trouble of its own.”
-Matthew 6:34

Offline DefiantMassRINO

  • Hero Member
  • *****
  • Posts: 11,212
  • Gender: Male
Re: First-quarter GDP growth revised down to 1.3% rate
« Reply #1 on: May 30, 2024, 12:31:50 pm »
Bidenomics - for flacid GDP growth.
Logged
"Political correctness is a doctrine fostered by a delusional, illogical minority, and rabidly promoted by an unscrupulous mainstream media, which holds forth the proposition that it’s entirely possible to pick up a turd by the clean end." - Alan Simpson, Frontline Video Interview

Offline catfish1957

  • The Conservative Carp Rapscallion of Brieferville
  • Moderator
  • *****
  • Posts: 25,272
  • Gender: Male
Re: First-quarter GDP growth revised down to 1.3% rate
« Reply #2 on: May 30, 2024, 12:37:57 pm »
I am sick and tired of the Lyin' Biden econ team spouting data that makes news, and then almost always and routinely revising them later. Always to the worst.  Months later the news is lucky to make it to page 10. 
Logged
I display the Confederate Battle Flag in honor of my great great great grandfathers who spilled blood at Wilson's Creek and Shiloh.  5 others served in the WBTS with honor too.

Offline DB

  • Hero Member
  • *****
  • Posts: 10,133
Re: First-quarter GDP growth revised down to 1.3% rate
« Reply #3 on: May 30, 2024, 12:39:57 pm »
That "GDP" includes printed money from nowhere.

The real GDP is negative.
Logged

Offline LMAO

  • Hero Member
  • *****
  • Posts: 12,765
  • Gender: Male
Re: First-quarter GDP growth revised down to 1.3% rate
« Reply #4 on: May 30, 2024, 12:46:23 pm »
Quote from: DB on May 30, 2024, 12:39:57 pm
That "GDP" includes printed money from nowhere.

The real GDP is negative.

We’re on a 20 year stretch of yearly GDP being  below 3%

Yet our debt has grown exponentially during that time

Anybody want to  argue that the Obama/Trump/Biden economic policies are working?
Logged
I have little interest in streamlining government or in making it more efficient, for I mean to reduce its size. I do not undertake to promote welfare, for I propose to extend freedom. My aim is not to pass laws, but to repeal them.

Barry Goldwater

http://www.usdebtclock.org

My Avatar is my adult autistic son Tommy

Offline catfish1957

  • The Conservative Carp Rapscallion of Brieferville
  • Moderator
  • *****
  • Posts: 25,272
  • Gender: Male
Re: First-quarter GDP growth revised down to 1.3% rate
« Reply #5 on: May 30, 2024, 12:50:22 pm »
If the data was reported honestly, Americans would horrified that we really have been in a recesssion for most of Biden's term. 
Logged
I display the Confederate Battle Flag in honor of my great great great grandfathers who spilled blood at Wilson's Creek and Shiloh.  5 others served in the WBTS with honor too.

Offline catfish1957

  • The Conservative Carp Rapscallion of Brieferville
  • Moderator
  • *****
  • Posts: 25,272
  • Gender: Male
Re: First-quarter GDP growth revised down to 1.3% rate
« Reply #6 on: May 30, 2024, 01:07:53 pm »
Quote from: LMAO on May 30, 2024, 12:46:23 pm
We’re on a 20 year stretch of yearly GDP being  below 3%

Yet our debt has grown exponentially during that time

Anybody want to  argue that the Obama/Trump/Biden economic policies are working?

As a obsessvie fiscal hawk, heere is my POTUS grades of my lifetime,

Biden- F       The worst of my lifetime, man is taking us off a cliff

Trump- D-     Promised fiscal restraint.  Not only didn't deliver, but incurred more debt (even inflation adjusted) than any prior POTUS.  Did like regulatory restraint, which was a good start

Obama- F-  QE I, QEII, QEIII.  He was a pioneer in loving exponential excessive debt.

Bush II- D   All I want to add is just what was the return on investment of the WOT?  Sucked

Clinton- D+  Favorable only and mostly because Newt's congressional initiatives.   Deep down Slick Willie was still a tax and spend liberal.

Bush I- C-    Cratered to the left by ditching the main taxation tenants of Reagonomics. 

Reagan- B-   Actually the gold standard of our lifetime, but still was no Calvin Coolidge.

Carter- F      Laughng stock, in financial terms, who was way over his head.  As bad as  Jimmuh was, he still doesn't touch Biden

Ford-   D    WIN  (Whip Inflation Now)  The original RINO was convinced we could manage the malaise with slogans

Nixon-  D+   Wage Price Controls, Off fold standard, Then watch inflation rise up to 12%, and GDP losses approaching 5%?  Yeah, he inheritied some of the damage, but he didn't do much to improve the situation
Logged
I display the Confederate Battle Flag in honor of my great great great grandfathers who spilled blood at Wilson's Creek and Shiloh.  5 others served in the WBTS with honor too.

Offline LMAO

  • Hero Member
  • *****
  • Posts: 12,765
  • Gender: Male
Re: First-quarter GDP growth revised down to 1.3% rate
« Reply #7 on: May 30, 2024, 02:20:06 pm »
Quote from: catfish1957 on May 30, 2024, 01:07:53 pm
As a obsessvie fiscal hawk, heere is my POTUS grades of my lifetime,

Biden- F       The worst of my lifetime, man is taking us off a cliff

Trump- D-     Promised fiscal restraint.  Not only didn't deliver, but incurred more debt (even inflation adjusted) than any prior POTUS.  Did like regulatory restraint, which was a good start

Obama- F-  QE I, QEII, QEIII.  He was a pioneer in loving exponential excessive debt.

Bush II- D   All I want to add is just what was the return on investment of the WOT?  Sucked

Clinton- D+  Favorable only and mostly because Newt's congressional initiatives.   Deep down Slick Willie was still a tax and spend liberal.

Bush I- C-    Cratered to the left by ditching the main taxation tenants of Reagonomics. 

Reagan- B-   Actually the gold standard of our lifetime, but still was no Calvin Coolidge.

Carter- F      Laughng stock, in financial terms, who was way over his head.  As bad as  Jimmuh was, he still doesn't touch Biden

Ford-   D    WIN  (Whip Inflation Now)  The original RINO was convinced we could manage the malaise with slogans

Nixon-  D+   Wage Price Controls, Off fold standard, Then watch inflation rise up to 12%, and GDP losses approaching 5%?  Yeah, he inheritied some of the damage, but he didn't do much to improve the situation


I’ve been watching this Javier Milei of Argentina and, even though I’m heterosexual, I get aroused.

Chile was an economic and inflationary mess with government owning industries and stifling regulations and protectionist tariffs until Pinochet. The difference is Milei was elected.


If he succeeds, Argentina will become an economic success story



Logged
I have little interest in streamlining government or in making it more efficient, for I mean to reduce its size. I do not undertake to promote welfare, for I propose to extend freedom. My aim is not to pass laws, but to repeal them.

Barry Goldwater

http://www.usdebtclock.org

My Avatar is my adult autistic son Tommy

Offline DefiantMassRINO

  • Hero Member
  • *****
  • Posts: 11,212
  • Gender: Male
Re: First-quarter GDP growth revised down to 1.3% rate
« Reply #8 on: May 30, 2024, 02:33:02 pm »
Reagan had a Cold War against the Evil Empire to win.

Bush '41, Clinton, Bush '43, Obama, Trump, and Biden have no such excuse.  Where did all that Peace Dividend money go?

Quote from: catfish1957 on May 30, 2024, 01:07:53 pm
As a obsessvie fiscal hawk, heere is my POTUS grades of my lifetime,

Biden- F       The worst of my lifetime, man is taking us off a cliff

Trump- D-     Promised fiscal restraint.  Not only didn't deliver, but incurred more debt (even inflation adjusted) than any prior POTUS.  Did like regulatory restraint, which was a good start

Obama- F-  QE I, QEII, QEIII.  He was a pioneer in loving exponential excessive debt.

Bush II- D   All I want to add is just what was the return on investment of the WOT?  Sucked

Clinton- D+  Favorable only and mostly because Newt's congressional initiatives.   Deep down Slick Willie was still a tax and spend liberal.

Bush I- C-    Cratered to the left by ditching the main taxation tenants of Reagonomics. 

Reagan- B-   Actually the gold standard of our lifetime, but still was no Calvin Coolidge.

Carter- F      Laughng stock, in financial terms, who was way over his head.  As bad as  Jimmuh was, he still doesn't touch Biden

Ford-   D    WIN  (Whip Inflation Now)  The original RINO was convinced we could manage the malaise with slogans

Nixon-  D+   Wage Price Controls, Off fold standard, Then watch inflation rise up to 12%, and GDP losses approaching 5%?  Yeah, he inheritied some of the damage, but he didn't do much to improve the situation
Logged
"Political correctness is a doctrine fostered by a delusional, illogical minority, and rabidly promoted by an unscrupulous mainstream media, which holds forth the proposition that it’s entirely possible to pick up a turd by the clean end." - Alan Simpson, Frontline Video Interview

Offline LMAO

  • Hero Member
  • *****
  • Posts: 12,765
  • Gender: Male
Re: First-quarter GDP growth revised down to 1.3% rate
« Reply #9 on: May 30, 2024, 07:41:34 pm »
Quote from: DefiantMassRINO on May 30, 2024, 02:33:02 pm

Bush '41, Clinton, Bush '43, Obama, Trump, and Biden have no such excuse.  Where did all that Peace Dividend money go?



https://www.youtube.com/watch?v=jEBnrzNuUSA
Logged
I have little interest in streamlining government or in making it more efficient, for I mean to reduce its size. I do not undertake to promote welfare, for I propose to extend freedom. My aim is not to pass laws, but to repeal them.

Barry Goldwater

http://www.usdebtclock.org

My Avatar is my adult autistic son Tommy
Pages: [1]   Go Up
« previous next »