Trajan
conscientia mille testes
we discussed this earlier (see link below) , I was high by a smidgen. *shrugs*. The economy is dead in the water, does anyone think that's debatable, really?
http://www.usmessageboard.com/polit...-assorted-not-so-good-stats-the-politics.html
U.S. GDP Grows Just 1.3%
* JULY 29, 2011, 8:59 A.M. ET
The U.S. economy expanded at a slower pace than expected in the spring as consumers cut back on spending, while revisions showed the slowdown since the beginning of the year was much more drastic than previously thought.
The Commerce Department Friday said gross domestic product rose at an annualized seasonally adjusted rate of 1.3% in April through June, while first-quarter growth was revised down sharply to a 0.4% rate from the earlier estimate of a 1.9% gain. A big reason behind the downward revision in first-quarter growth was that the inventory buildup by companies was less than initially estimated, while outlays by the federal government and consumers were also revised down.
Economists surveyed by Dow Jones Newswires expected GDP to rise 1.8% in the second quarter.
The first estimate of the economy's benchmark indicator for the second quarter showed growth was supported largely by business investment and exports.
But consumer spending, a big engine for the U.S. economy, made a much smaller contribution to growth. Spending edged up by an annualized rate of 0.1% in April through June, the weakest it has been in two years, after a 2.1% gain in the first quarter.
Americans have had to spend more for gasoline amid higher prices, leading them to cut purchases for other things. Sales last month by U.S. retailers excluding car and parts dealers were unchanged, with declines reported by furniture stores; electronics and appliances stores; restaurant and bars; health care stores; and sporting goods, hobby, book, and music stores.
Also restraining consumers is a high jobless rate. Big companies have been announcing job reductions. At Delta Air Lines Inc., for instance, more than 2,000 staff have accepted voluntary redundancy job cuts. The carrier, stung by fuel prices, announced a 58% drop in second-quarter earnings.
Government spending and investment fell, however. Although federal spending rose 2.2%, outlays by state and local governments contracted 3.4%.
more at-
U.S. GDP Grows Just 1.3% - WSJ.com
http://www.usmessageboard.com/polit...-assorted-not-so-good-stats-the-politics.html
U.S. GDP Grows Just 1.3%
* JULY 29, 2011, 8:59 A.M. ET
The U.S. economy expanded at a slower pace than expected in the spring as consumers cut back on spending, while revisions showed the slowdown since the beginning of the year was much more drastic than previously thought.
The Commerce Department Friday said gross domestic product rose at an annualized seasonally adjusted rate of 1.3% in April through June, while first-quarter growth was revised down sharply to a 0.4% rate from the earlier estimate of a 1.9% gain. A big reason behind the downward revision in first-quarter growth was that the inventory buildup by companies was less than initially estimated, while outlays by the federal government and consumers were also revised down.
Economists surveyed by Dow Jones Newswires expected GDP to rise 1.8% in the second quarter.
The first estimate of the economy's benchmark indicator for the second quarter showed growth was supported largely by business investment and exports.
But consumer spending, a big engine for the U.S. economy, made a much smaller contribution to growth. Spending edged up by an annualized rate of 0.1% in April through June, the weakest it has been in two years, after a 2.1% gain in the first quarter.
Americans have had to spend more for gasoline amid higher prices, leading them to cut purchases for other things. Sales last month by U.S. retailers excluding car and parts dealers were unchanged, with declines reported by furniture stores; electronics and appliances stores; restaurant and bars; health care stores; and sporting goods, hobby, book, and music stores.
Also restraining consumers is a high jobless rate. Big companies have been announcing job reductions. At Delta Air Lines Inc., for instance, more than 2,000 staff have accepted voluntary redundancy job cuts. The carrier, stung by fuel prices, announced a 58% drop in second-quarter earnings.
Government spending and investment fell, however. Although federal spending rose 2.2%, outlays by state and local governments contracted 3.4%.
more at-
U.S. GDP Grows Just 1.3% - WSJ.com
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no wonder people don't trust the gov.
when? I didn't see that..seriously? 
