Economy grows for the third straight quarter

Discussion in 'Economy' started by Chris, Apr 30, 2010.

  1. Chris
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    Chris Gold Member

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    NEW YORK (CNNMoney.com) -- The U.S. economy kept growing in the first three months of this year but at a much slower pace than at the end of 2009, according to a government report Friday.

    Gross domestic product, the broadest measure of the nation's economic activity, rose at a 3.2% annual rate in the quarter, the Commerce Department said.

    That's down from the 5.6% growth rate in the fourth quarter, and slightly below economists' forecasts for a 3.3% increase.

    The report marked the third straight quarter of growth, confirming the view of many economists that the recession that started in December 2007 ended at some point in the middle of last year.

    GDP Report: Economy grows 3.2% in the first quarter - Apr. 30, 2010
     
  2. Jos
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    Jos BANNED

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  3. rightwinger
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    rightwinger Paid Messageboard Poster Gold Supporting Member Supporting Member

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    Damn! Three straight quarters of growth

    That is Economic GOOD NEWS
     
  4. mudwhistle
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    mudwhistle Diamond Member

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    So bad news is good news now.

    What a change from the Bush years.

    Yeah....things don't suck as much so we're doing great!!!
     
    Last edited: Apr 30, 2010
  5. rightwinger
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    rightwinger Paid Messageboard Poster Gold Supporting Member Supporting Member

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    Positive Growth is always good news.

    Just like three consecutive quarters of negative GDP growth under the former president (Hint: Booooooooosh) was bad news
     
  6. mudwhistle
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    mudwhistle Diamond Member

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    But for some strange reason this article is trying to spin that less growth then last year is a good thing. "Much slower pace then 09'". My reading comprehension is pretty good you know.

    I'm just saying.
     
    Last edited: Apr 30, 2010
  7. Truthmatters
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    Truthmatters BANNED

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    heres where "I want Obama to fail" shows it real face.

    They wwant the country to fail so they can blame it on Obama.

    It is more important to them to win politically than for the coutnry to win.
     
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  8. DiamondDave
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    DiamondDave Army Vet

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    I hope the economy does work itself out and start more on the road to recovery... I do know, however, that the big government policies, higher taxation, government expansion and increased spending, etc are not helping the economy and are most probably hindering what could be an even more robust recovery
     
  9. saveliberty
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    saveliberty Diamond Member

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    Getting unemployment to a 4-5% rate will be a recovery in my opinion. Comparing any economic indicator to 2009 is pretty sad. Some interesting stuff here:

    While federal government spending increased 1.4%, that was outweighed by a 3.8% spending cut by state and local governments dealing with budget crises. That was the biggest decline in state and government spending since 1981

    Looks like the stimulus money is done. State and local governments will show increasing cuts in the next quarter. I'm not sure consumers can make up the difference.
     
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  10. boedicca
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    boedicca Uppity Water Nymph Supporting Member

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    Growth was below forecast, and the increase was driven by consumer spending (read that - early Easter compared to 2009).

    Where are the jobs?
     

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