U.S. 'Growth' Slows, GDP for Q-1 2012= 2.2%

[Trajan]

this seems to be the trend - last year, year before.....*shrugs* We seem, that is seem to get some momentum, ( as anemic as that is considering the condition we are in) then.....a slow slide back to low end mediocrity, a slight burst come latter half of Q3 and Q4...then....slow glide back to the doldrums...




Gross domestic product, the broadest measure of all the goods and services produced in an economy, grew at an inflation-adjusted annual rate of 2.2% in the first quarter of 2012, the Commerce Department said Friday. It was the agency's first reading of growth for the quarter.

The gain came in below expectations. Economists surveyed by Dow Jones Newswires had forecast first-quarter GDP would increase at a 2.6% rate. In the final three months of 2011, the economy grew at a 3.0% rate.

Commerce said the slowing expansion "primarily reflected a deceleration in private inventory investment and a downturn in nonresidential fixed investment," a category that includes spending on structures, computers and industrial equipment.

A build up in inventories helped drive the expansion at the end of 2011, accounting for more than half of the overall growth for the fourth quarter. In the first three months of this year, increased inventories contributed only about a quarter of the total gain in GDP.

Meanwhile, nonresidential fixed investment fell by 2.1% during the first quarter, compared to 5.2% gain in the prior period.

Government spending declined in the first quarter, falling by 3.0%. That comes after a 4.2% drop in public expenditures in the fourth quarter of 2012.

more at-
U.S. GDP Growth Slows - WSJ.com

 

[DSGE]

3% real growth is the long run trend for the US. Given that there's a trillion dollar output gap, we don't want to see anything near 3% growth, let alone less than 3%. I frequently heard people getting excited over the last quarter growth figures, but they were awful. If you have a trillion dollar output gap following a recession, you don't want to have trend growth. You need significantly above-trend growth for a period. We need 5 to 7% growth per year. Then, after the output gap is closed, it's acceptable to return to 3% trend growth. If RGDP growth is less than 5%, there is no reason for anybody to ever refer to growth as "picking up" or "strong" or any of that bullshit.

And now the dismal 3% growth has fallen to 2.2%. I'm glad I don't live in the US, because you guys are fucked.

 

[Trajan]

no doubt about it. Bush left a shit sandwich, and obama doubled down. The next pres. term Romney or obama, will see another recession, period. Its cooked into the books.

 

[Jroc]

no doubt about it. Bush left a shit sandwich, and obama doubled down. The next pres. term Romney or obama, will see another recession, period. Its cooked into the books.

That number will probably be revised down, that seems to be the trend these days. I'll have to disagree with you a bit, there may be a recession at first if Romney is elected, but it’ll be a short one. once Romney unleashes a little capitalism, and goes full bore with energy production also Obamacare will be gone, get rid of the whackos at EPA ect...If Obama wins count on a depression not a recession.

 

[Wiseacre]

no doubt about it. Bush left a shit sandwich, and obama doubled down. The next pres. term Romney or obama, will see another recession, period. Its cooked into the books.

I think there's a fair chance we'll see a recession later this year, that could lead to a double dip next year, as you say regardless of who's president.

 

[Middleoftheroad]

Government spending declined in the first quarter, falling by 3.0%. That comes after a 4.2% drop in public expenditures in the fourth quarter of 2012.

Wait, what? That would mean government spending fell by about 7% in 6 months. I'm not saying I don't believe that, but... well actually that is what I'm saying.

no doubt about it. Bush left a shit sandwich, and obama doubled down. The next pres. term Romney or obama, will see another recession, period. Its cooked into the books.

I'm not quite so sure. There are still definetly some weaknesses in the economy and I do see another summer slowdown yet again, I think after that most of the major outliers should be fixed or near fixed (well with the exception of Europe, I really don't know what some of the countries there are going to do).

 

[bugs]

this seems to be the trend - last year, year before.....*shrugs* We seem, that is seem to get some momentum, ( as anemic as that is considering the condition we are in) then.....a slow slide back to low end mediocrity, a slight burst come latter half of Q3 and Q4...then....slow glide back to the doldrums...




Gross domestic product, the broadest measure of all the goods and services produced in an economy, grew at an inflation-adjusted annual rate of 2.2% in the first quarter of 2012, the Commerce Department said Friday. It was the agency's first reading of growth for the quarter.

The gain came in below expectations. Economists surveyed by Dow Jones Newswires had forecast first-quarter GDP would increase at a 2.6% rate. In the final three months of 2011, the economy grew at a 3.0% rate.

Commerce said the slowing expansion "primarily reflected a deceleration in private inventory investment and a downturn in nonresidential fixed investment," a category that includes spending on structures, computers and industrial equipment.

A build up in inventories helped drive the expansion at the end of 2011, accounting for more than half of the overall growth for the fourth quarter. In the first three months of this year, increased inventories contributed only about a quarter of the total gain in GDP.

Meanwhile, nonresidential fixed investment fell by 2.1% during the first quarter, compared to 5.2% gain in the prior period.

Government spending declined in the first quarter, falling by 3.0%. That comes after a 4.2% drop in public expenditures in the fourth quarter of 2012.

more at-
U.S. GDP Growth Slows - WSJ.com

^this is only IF you believe "their" numbers.. just think where it would be if not for INFLATION!!!! -2.2% maybe...

 

[bugs]

no doubt about it. Bush left a shit sandwich, and obama doubled down. The next pres. term Romney or obama, will see another recession, period. Its cooked into the books.

^ OR the Depression gets Worse..

 

[DSGE]

^this is only IF you believe "their" numbers.. just think where it would be if not for INFLATION!!!! -2.2% maybe...

It's real GDP dude; inflation adjusted. Nominal GDP grew 3.8%, same as last quarter.

 

[bugs]

^this is only IF you believe "their" numbers.. just think where it would be if not for INFLATION!!!! -2.2% maybe...

It's real GDP dude; inflation adjusted. Nominal GDP grew 3.8%, same as last quarter.

^how do you Know this?

 

[DSGE]

^this is only IF you believe "their" numbers.. just think where it would be if not for INFLATION!!!! -2.2% maybe...

It's real GDP dude; inflation adjusted. Nominal GDP grew 3.8%, same as last quarter.

^how do you Know this?

First, because it says its inflation adjusted in the article. Second, by just taking a gander at this:
News Release: Gross Domestic Product

 

[bugs]

It's real GDP dude; inflation adjusted. Nominal GDP grew 3.8%, same as last quarter.

^how do you Know this?

First, because it says its inflation adjusted in the article. Second, by just taking a gander at this:
News Release: Gross Domestic Product

^like i said.. IF you believe THEIR Numbers.. (i don't)

 

[DSGE]

^how do you Know this?

First, because it says its inflation adjusted in the article. Second, by just taking a gander at this:
News Release: Gross Domestic Product

^like i said.. IF you believe THEIR Numbers.. (i don't)

You don't believe their estimates of total national income? If they were gonna lie, you'd think they wouldn't make up such disappointing numbers. Also, with all the people that work for the BEA or have ever worked there, you don't think maybe there would be a couple of people blowing the whistle on that shit?

Let's call this what it is: you want the numbers to be lower and you're rejecting any data that doesn't confirm your bias.

 

[Trajan]

Revision update-

Q1 GDP of 2.2% revised down to 1.9%.....


unemployment numbers out tomorrow....word on the street? anemic.

same shit different month.

Updated May 31, 2012, 9:04 a.m. ET

Slow Growth Amid Sluggish Job Gains

Gross domestic product increased at a 1.9% annual rate from January through March, the Commerce Department said Thursday. In its original report a month ago, the department estimated an increase of 2.2% in first-quarter GDP, the broadest measure of all the goods and services produced in an economy.

The number of U.S. workers filing new applications for unemployment benefits jumped last week, a potential signal that job creation continues to slow. Meanwhile, Private businesses hired at a very modest pace in May and manufacturers let go of workers, according to a report released Thursday by payroll giant Automatic Data Processing Inc. and consultancy Macroeconomic Advisers.

Still, companies registered their biggest quarterly gain in profits since the end of 2009 in the first three months of 2012. Corporate profits--after tax and unadjusted for inventories and capital consumption--increased at an 11.7% annual rate from the previous quarter. Profits were up 14.8% year on year in the first quarter, Commerce said.

The economy has cooled off since expanding at the fastest pace in a year and a half in the final quarter of 2011, with a 3.0% growth rate. But the fourth-quarter acceleration was driven partly by companies aggressively restocking inventories to catch up with demand.

Thursday's report showed that the inventory buildup was even less than expected in the first quarter, with the contribution to GDP falling to just 0.2 percentage point from 0.6 percentage point.

Consumer spending was also slightly weaker than expected, rising 2.7% instead of 2.9% as initially thought. Still, that marked the biggest gain in consumption since the fourth quarter of 2010.

Meanwhile, government spending continued to weigh on the recovery, with the drop revised down to 3.9% from 3.0%, mostly on the back of weakening state and local finances.

more at-
Slow Growth Amid Sluggish Job Gains - WSJ.com

 

[Mad Scientist]

New Normal. Get used to it. Unless we get manufacturing back, we'll never be the same.

 

[starcraftzzz]

this seems to be the trend - last year, year before.....*shrugs* We seem, that is seem to get some momentum, ( as anemic as that is considering the condition we are in) then.....a slow slide back to low end mediocrity, a slight burst come latter half of Q3 and Q4...then....slow glide back to the doldrums...




Gross domestic product, the broadest measure of all the goods and services produced in an economy, grew at an inflation-adjusted annual rate of 2.2% in the first quarter of 2012, the Commerce Department said Friday. It was the agency's first reading of growth for the quarter.

The gain came in below expectations. Economists surveyed by Dow Jones Newswires had forecast first-quarter GDP would increase at a 2.6% rate. In the final three months of 2011, the economy grew at a 3.0% rate.

Commerce said the slowing expansion "primarily reflected a deceleration in private inventory investment and a downturn in nonresidential fixed investment," a category that includes spending on structures, computers and industrial equipment.

A build up in inventories helped drive the expansion at the end of 2011, accounting for more than half of the overall growth for the fourth quarter. In the first three months of this year, increased inventories contributed only about a quarter of the total gain in GDP.

Meanwhile, nonresidential fixed investment fell by 2.1% during the first quarter, compared to 5.2% gain in the prior period.

Government spending declined in the first quarter, falling by 3.0%. That comes after a 4.2% drop in public expenditures in the fourth quarter of 2012.

more at-
U.S. GDP Growth Slows - WSJ.com

^this is only IF you believe "their" numbers.. just think where it would be if not for INFLATION!!!! -2.2% maybe...

The numbers are adjusted for inflation retard
but go on with your conspiracy theories

 

[starcraftzzz]

^how do you Know this?

First, because it says its inflation adjusted in the article. Second, by just taking a gander at this:
News Release: Gross Domestic Product

^like i said.. IF you believe THEIR Numbers.. (i don't)

Yes like and republcians they have to deny reality

 

[Truthmatters]

this is what happens when you let a pack of crazy asses fools distroy the economy be deregulating the lending industry.

You guys must really think Obama is a "magic negro" like your hero said.

 

[Mad Scientist]

this is what happens when you let a pack of crazy asses fools distroy the economy be deregulating the lending industry.

You guys must really think Obama is a "magic negro" like your hero said.

A Black columnist from the L.A. Times coined that phrase. Go ahead, prove me wrong.

"The Magic Negro" also signed a Free Trade Agreement with South Korea that will most likely kill whatever manufacturing we have left in the country.

But that's OK, we have ObamaCare that we can't pay for.