GDP Did Not Just Increase 33%

sealybobo

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Jun 5, 2008
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Some Republican tried to post a thread that it did but it got closed. Turns out that 33% number is misleading.


Today's advanced third quarter GDP estimates from the Bureau of Economic Analysis are being reported as showing 33 percent economic growth. This figure is highly misleading, both because it is an annualized number describing a one-time partial recovery and because it is measured off of a deflated base. In reality, GDP grew by 7.4 percent between the second and third quarters, recovering about two-thirds of the GDP loss since the end of 2019.

When a severe one-time contraction was reported for the second quarter of 2020, we warned against using the annualized number, which would have suggested the economy was on course to shrink by one-third. It would be similarly misleading to suggest the economy is now on course to grow by a third. The non-annualized 7.4 percent is far more appropriate.
 
Some Republican tried to post a thread that it did but it got closed. Turns out that 33% number is misleading.


Today's advanced third quarter GDP estimates from the Bureau of Economic Analysis are being reported as showing 33 percent economic growth. This figure is highly misleading, both because it is an annualized number describing a one-time partial recovery and because it is measured off of a deflated base. In reality, GDP grew by 7.4 percent between the second and third quarters, recovering about two-thirds of the GDP loss since the end of 2019.

When a severe one-time contraction was reported for the second quarter of 2020, we warned against using the annualized number, which would have suggested the economy was on course to shrink by one-third. It would be similarly misleading to suggest the economy is now on course to grow by a third. The non-annualized 7.4 percent is far more appropriate.
Trumpsters don't understand "annualized". Rush & Sean said it was 33%, so that's all they know.

Trying to discuss economics with Trumpsters is a waste of time.
 
Yes the US economy did do 33% in Q3, so say the commies at CNBC (NOT a "Trumpster" number)
From your link:

Third-quarter gross domestic product, a measure of the total goods and services produced in the July-to-September period, expanded at a 33.1% annualized pace, according to the department’s initial estimate for the period.

As I said, Trumpsters don't know shit about economics. Arrogant ignorance.
 
Yes the US economy did do 33% in Q3, so say the commies at CNBC (NOT a "Trumpster" number)
Fueled by $3 trillion in pandemic relief?

i posted an explanation of why this is misleading Because it is an annualized number describing a one time partial recovery and because it’s measured off a deflated base. The real number is 7%

Most economists expect 5% growth in the first three months of 2021.
 
Yes the US economy did do 33% in Q3, so say the commies at CNBC (NOT a "Trumpster" number)
After a 31.4 plunge.
Exactly, after a 31.4% plunge in the 2nd. The numbers are what the numbers are.
The dems cheer bad numbers and whine about good ones instead of looking at the overall annual number.
 
Yes the US economy did do 33% in Q3, so say the commies at CNBC (NOT a "Trumpster" number)
From your link:

Third-quarter gross domestic product, a measure of the total goods and services produced in the July-to-September period, expanded at a 33.1% annualized pace, according to the department’s initial estimate for the period.

As I said, Trumpsters don't know shit about economics. Arrogant ignorance.
The 33.1% GDP follows a 31.4% plunge in Q2. WTF is your problem? Translate your "quote" including "for the period". That does not mean the GDP for 2020 is 33.1%.
 
Yes the US economy did do 33% in Q3, so say the commies at CNBC (NOT a "Trumpster" number)
From your link:

Third-quarter gross domestic product, a measure of the total goods and services produced in the July-to-September period, expanded at a 33.1% annualized pace, according to the department’s initial estimate for the period.

As I said, Trumpsters don't know shit about economics. Arrogant ignorance.
The 33.1% GDP follows a 31.4% plunge in Q2. WTF is your problem? Translate your "quote" including "for the period". That does not mean the GDP for 2020 is 33.1%.
You said "Yes the US economy did do 33% in Q3". That is "annualized", not just for the quarter. Do you know what "annualized" means?
 
Yes the US economy did do 33% in Q3, so say the commies at CNBC (NOT a "Trumpster" number)
CNBC is wallstreet dummy. You think CNBC cares about labor? Google CNBC. What are they all about? Stock markets, business news, financials and earnings.

Dont be so gullible to believe that media is liberal.
 
Yes the US economy did do 33% in Q3, so say the commies at CNBC (NOT a "Trumpster" number)
Fueled by $3 trillion in pandemic relief?

i posted an explanation of why this is misleading Because it is an annualized number describing a one time partial recovery and because it’s measured off a deflated base. The real number is 7%

Most economists expect 5% growth in the first three months of 2021.
1. No one gives a fuck about a +33.1 Q3 number, especially after a 31.4% drop in Q2. The economy is fluctuating due to the pandemic.
2. I'm fine with your 7%, which seems high for a tragic pandemic year.
3. I hope we get 5% growth in 2021 with higher taxes and more stimulus and more Fed support.
 
Yes the US economy did do 33% in Q3, so say the commies at CNBC (NOT a "Trumpster" number)
From your link:

Third-quarter gross domestic product, a measure of the total goods and services produced in the July-to-September period, expanded at a 33.1% annualized pace, according to the department’s initial estimate for the period.

As I said, Trumpsters don't know shit about economics. Arrogant ignorance.
The 33.1% GDP follows a 31.4% plunge in Q2. WTF is your problem? Translate your "quote" including "for the period". That does not mean the GDP for 2020 is 33.1%.
You said "Yes the US economy did do 33% in Q3". That is "annualized", not just for the quarter. Do you know what "annualized" means?
Yes I know what "annualized" means, do you know what "for the period" means? Just like the Q2 number was -31.4%.
The economy is fluctuating due to the pandemic, and not going crazy up.
 
Yes the US economy did do 33% in Q3, so say the commies at CNBC (NOT a "Trumpster" number)
From your link:

Third-quarter gross domestic product, a measure of the total goods and services produced in the July-to-September period, expanded at a 33.1% annualized pace, according to the department’s initial estimate for the period.

As I said, Trumpsters don't know shit about economics. Arrogant ignorance.
The 33.1% GDP follows a 31.4% plunge in Q2. WTF is your problem? Translate your "quote" including "for the period". That does not mean the GDP for 2020 is 33.1%.
You said "Yes the US economy did do 33% in Q3". That is "annualized", not just for the quarter. Do you know what "annualized" means?
Yes I know what "annualized" means, do you know what "for the period" means? Just like the Q2 number was -31.4%.
The economy is fluctuating due to the pandemic, and not going crazy up.
Again, it as not up 33.1% for the period/quarter.

This is why I don't bother. Believe what you want.
 
Yes the US economy did do 33% in Q3, so say the commies at CNBC (NOT a "Trumpster" number)
CNBC is wallstreet dummy. You think CNBC cares about labor? Google CNBC. What are they all about? Stock markets, business news, financials and earnings.

Dont be so gullible to believe that media is liberal.
I think we're posting past each other.
1. The OP seems to imply that the 33.1% Q3 GDP is the same as for all of 2020, which is bullshit.
2. My point is that the 33.1% Q3 GDP number is just for Q3, its the real Q3 number as posted by CNBC, and is NOT "Trumpster" bullshit". It is not the projected 2020 GDP
 
Yes the US economy did do 33% in Q3, so say the commies at CNBC (NOT a "Trumpster" number)
CNBC is wallstreet dummy. You think CNBC cares about labor? Google CNBC. What are they all about? Stock markets, business news, financials and earnings.

Dont be so gullible to believe that media is liberal.
I think we're posting past each other.
1. The OP seems to imply that the 33.1% Q3 GDP is the same as for all of 2020, which is bullshit.
2. My point is that the 33.1% Q3 GDP number is just for Q3, its the real Q3 number as posted by CNBC, and is NOT "Trumpster" bullshit". It is not the projected 2020 GDP
I read that number is misleading. It was also fueled by trillions in stimulus money.
 

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