Trump’s 3% Growth Feat in 2018 Undone by Annual Data Revisions

[Denizen]

Donald Trump has failed to get GDP growth above Obama era levels and it is down to 2.5%

"Data for the second quarter of 2019, also released Friday, showed the economy expanded at a 2.1%."

Like Donald Trump's life and his daily pronouncements, Donald Trump's proclamation of 3% growth was a big fat orange-haired lie.

Donald Trump has sent the economy into a downward spiral as Donald Trump' emergence has been demonstrated to be a dead cat bounce in its effect on the economy.

Company profits are falling and the growth has slowed to 1.1% in the final quarter of 2018.

Bloomberg - Are you a robot?

Trump’s 3% Growth Feat in 2018 Undone by Annual Data Revisions
By Rich Miller
July 26, 2019, 7:31 PM GMT+7
Update shows U.S. economy expanded 2.5% last year
Revisions also boost savings rate, lower cellphone prices

President Donald Trump failed to achieve his much-ballyhooed 3% target for economic growth in 2018 after all.
Updated government figures show that gross domestic product expanded 2.5% on a fourth-quarter-over-fourth-quarter basis last year. That compares with a previous estimate of 3% and an upwardly revised 2.8% in 2017, the first year of Trump’s presidency.
Behind the 2018 markdown: Slower growth of business investment and exports, along with a greater output in the fourth quarter of 2017 that made the comparison less favorable.
Related: U.S. Growth Slows to 2.1% as Trade Tensions Weigh on Businesses
Data for the second quarter of 2019, also released Friday, showed the economy expanded at a 2.1% annualized pace -- above the median projection -- following a 3.1% reading in the prior three months. GDP grew 2.3% in the second quarter from a year earlier, the slowest in two years.
The new data call into question Trump’s claim that he’s lifting growth to 3%-plus from 2% through a mixture of tax cuts, deregulation and a pro-America trade policy. GDP gains in the first two years of his presidency, though, did top the expansion’s 2.3% average.
Other highlights of the annual GDP revisions -- which cover data back to 2014 -- include a sharp upward adjustment in the personal savings rate last year and the adoption of new quality-adjusted price calculations for cellphones that exhibit steeper declines than previous figures.
The latest data from the Commerce Department’s Bureau of Economic Analysis also show that the economy ended 2018 on a much weaker footing than thought.
Growth in the final three months of 2018 is now pegged at an annualized 1.1%, half the previous estimate and the slowest pace in three years, as consumer spending downshifted significantly.
Corporate Profits
Corporations also fared poorly in the final three months of the year as their profits tumbled $18.6 billion on a seasonally adjusted annualized basis from the previous quarter. That’s close to double the previously estimated drop.
The steep slowdown in growth at the end of 2018 could provide fodder for Trump in his criticism of the Federal Reserve for raising interest rates, including a hike in December.
Faced with a sluggish global economy and elevated trade tensions, the Fed is widely expected by investors to cut borrowing costs next week for the first time in more than a decade.
As economic growth slowed throughout 2018, Americans socked away more money. The personal savings rate last year was 7.7% -- up from a previous estimate of 6.7% -- after 7% in 2017, the revised figures show.
Savings were boosted by bigger-than-previously-thought income from interest payments and dividends paid to investors. That suggests that wealthier individuals were the main beneficiaries.
The annual revision also reflects work that the BEA did with the Fed to improve the agency’s measurement of quality-adjusted cell phone prices.
Prices for cellular phone services are now seen as having fallen 26.7% from the fourth quarter of 2014 through the first quarter of this year. That compares with a 17.4% drop under the old calculation.
— With assistance by Jordan Yadoo

 

[Mikeoxenormous]

Donald Trump has failed to get GDP growth above Obama era levels and it is down to 2.5%

"Data for the second quarter of 2019, also released Friday, showed the economy expanded at a 2.1%."

Like Donald Trump's life and his daily pronouncements, Donald Trump's proclamation of 3% growth was a big fat orange-haired lie.

Donald Trump has sent the economy into a downward spiral as Donald Trump' emergence has been demonstrated to be a dead cat bounce in its effect on the economy.

Company profits are falling and the growth has slowed to 1.1% in the final quarter of 2018.

Bloomberg - Are you a robot?

Trump’s 3% Growth Feat in 2018 Undone by Annual Data Revisions
By Rich Miller
July 26, 2019, 7:31 PM GMT+7
Update shows U.S. economy expanded 2.5% last year
Revisions also boost savings rate, lower cellphone prices

President Donald Trump failed to achieve his much-ballyhooed 3% target for economic growth in 2018 after all.
Updated government figures show that gross domestic product expanded 2.5% on a fourth-quarter-over-fourth-quarter basis last year. That compares with a previous estimate of 3% and an upwardly revised 2.8% in 2017, the first year of Trump’s presidency.
Behind the 2018 markdown: Slower growth of business investment and exports, along with a greater output in the fourth quarter of 2017 that made the comparison less favorable.
Related: U.S. Growth Slows to 2.1% as Trade Tensions Weigh on Businesses
Data for the second quarter of 2019, also released Friday, showed the economy expanded at a 2.1% annualized pace -- above the median projection -- following a 3.1% reading in the prior three months. GDP grew 2.3% in the second quarter from a year earlier, the slowest in two years.
The new data call into question Trump’s claim that he’s lifting growth to 3%-plus from 2% through a mixture of tax cuts, deregulation and a pro-America trade policy. GDP gains in the first two years of his presidency, though, did top the expansion’s 2.3% average.
Other highlights of the annual GDP revisions -- which cover data back to 2014 -- include a sharp upward adjustment in the personal savings rate last year and the adoption of new quality-adjusted price calculations for cellphones that exhibit steeper declines than previous figures.
The latest data from the Commerce Department’s Bureau of Economic Analysis also show that the economy ended 2018 on a much weaker footing than thought.
Growth in the final three months of 2018 is now pegged at an annualized 1.1%, half the previous estimate and the slowest pace in three years, as consumer spending downshifted significantly.
Corporate Profits
Corporations also fared poorly in the final three months of the year as their profits tumbled $18.6 billion on a seasonally adjusted annualized basis from the previous quarter. That’s close to double the previously estimated drop.
The steep slowdown in growth at the end of 2018 could provide fodder for Trump in his criticism of the Federal Reserve for raising interest rates, including a hike in December.
Faced with a sluggish global economy and elevated trade tensions, the Fed is widely expected by investors to cut borrowing costs next week for the first time in more than a decade.
As economic growth slowed throughout 2018, Americans socked away more money. The personal savings rate last year was 7.7% -- up from a previous estimate of 6.7% -- after 7% in 2017, the revised figures show.
Savings were boosted by bigger-than-previously-thought income from interest payments and dividends paid to investors. That suggests that wealthier individuals were the main beneficiaries.
The annual revision also reflects work that the BEA did with the Fed to improve the agency’s measurement of quality-adjusted cell phone prices.
Prices for cellular phone services are now seen as having fallen 26.7% from the fourth quarter of 2014 through the first quarter of this year. That compares with a 17.4% drop under the old calculation.
— With assistance by Jordan Yadoo

Obama wishes he had the magic wand that President Trump has..

 

[Denizen]

Donald Trump has failed to get GDP growth above Obama era levels and it is down to 2.5%

"Data for the second quarter of 2019, also released Friday, showed the economy expanded at a 2.1%."

Like Donald Trump's life and his daily pronouncements, Donald Trump's proclamation of 3% growth was a big fat orange-haired lie.

Donald Trump has sent the economy into a downward spiral as Donald Trump' emergence has been demonstrated to be a dead cat bounce in its effect on the economy.

Company profits are falling and the growth has slowed to 1.1% in the final quarter of 2018.

Bloomberg - Are you a robot?

Trump’s 3% Growth Feat in 2018 Undone by Annual Data Revisions
By Rich Miller
July 26, 2019, 7:31 PM GMT+7
Update shows U.S. economy expanded 2.5% last year
Revisions also boost savings rate, lower cellphone prices

President Donald Trump failed to achieve his much-ballyhooed 3% target for economic growth in 2018 after all.
Updated government figures show that gross domestic product expanded 2.5% on a fourth-quarter-over-fourth-quarter basis last year. That compares with a previous estimate of 3% and an upwardly revised 2.8% in 2017, the first year of Trump’s presidency.
Behind the 2018 markdown: Slower growth of business investment and exports, along with a greater output in the fourth quarter of 2017 that made the comparison less favorable.
Related: U.S. Growth Slows to 2.1% as Trade Tensions Weigh on Businesses
Data for the second quarter of 2019, also released Friday, showed the economy expanded at a 2.1% annualized pace -- above the median projection -- following a 3.1% reading in the prior three months. GDP grew 2.3% in the second quarter from a year earlier, the slowest in two years.
The new data call into question Trump’s claim that he’s lifting growth to 3%-plus from 2% through a mixture of tax cuts, deregulation and a pro-America trade policy. GDP gains in the first two years of his presidency, though, did top the expansion’s 2.3% average.
Other highlights of the annual GDP revisions -- which cover data back to 2014 -- include a sharp upward adjustment in the personal savings rate last year and the adoption of new quality-adjusted price calculations for cellphones that exhibit steeper declines than previous figures.
The latest data from the Commerce Department’s Bureau of Economic Analysis also show that the economy ended 2018 on a much weaker footing than thought.
Growth in the final three months of 2018 is now pegged at an annualized 1.1%, half the previous estimate and the slowest pace in three years, as consumer spending downshifted significantly.
Corporate Profits
Corporations also fared poorly in the final three months of the year as their profits tumbled $18.6 billion on a seasonally adjusted annualized basis from the previous quarter. That’s close to double the previously estimated drop.
The steep slowdown in growth at the end of 2018 could provide fodder for Trump in his criticism of the Federal Reserve for raising interest rates, including a hike in December.
Faced with a sluggish global economy and elevated trade tensions, the Fed is widely expected by investors to cut borrowing costs next week for the first time in more than a decade.
As economic growth slowed throughout 2018, Americans socked away more money. The personal savings rate last year was 7.7% -- up from a previous estimate of 6.7% -- after 7% in 2017, the revised figures show.
Savings were boosted by bigger-than-previously-thought income from interest payments and dividends paid to investors. That suggests that wealthier individuals were the main beneficiaries.
The annual revision also reflects work that the BEA did with the Fed to improve the agency’s measurement of quality-adjusted cell phone prices.
Prices for cellular phone services are now seen as having fallen 26.7% from the fourth quarter of 2014 through the first quarter of this year. That compares with a 17.4% drop under the old calculation.
— With assistance by Jordan Yadoo

Obama wishes he had the magic wand that President Trump has..

The magic wand that clouds people's minds and turns GOP lawmakers into salvering dupes?

 

[Dekster]

As long as my stocks are higher, I will applaud the illusion.

 

[Ricky LIbtardo]

Donald Trump has failed to get GDP growth above Obama era levels and it is down to 2.5%

"Data for the second quarter of 2019, also released Friday, showed the economy expanded at a 2.1%."

Like Donald Trump's life and his daily pronouncements, Donald Trump's proclamation of 3% growth was a big fat orange-haired lie.

Donald Trump has sent the economy into a downward spiral as Donald Trump' emergence has been demonstrated to be a dead cat bounce in its effect on the economy.

Company profits are falling and the growth has slowed to 1.1% in the final quarter of 2018.

Bloomberg - Are you a robot?

Trump’s 3% Growth Feat in 2018 Undone by Annual Data Revisions
By Rich Miller
July 26, 2019, 7:31 PM GMT+7
Update shows U.S. economy expanded 2.5% last year
Revisions also boost savings rate, lower cellphone prices

President Donald Trump failed to achieve his much-ballyhooed 3% target for economic growth in 2018 after all.
Updated government figures show that gross domestic product expanded 2.5% on a fourth-quarter-over-fourth-quarter basis last year. That compares with a previous estimate of 3% and an upwardly revised 2.8% in 2017, the first year of Trump’s presidency.
Behind the 2018 markdown: Slower growth of business investment and exports, along with a greater output in the fourth quarter of 2017 that made the comparison less favorable.
Related: U.S. Growth Slows to 2.1% as Trade Tensions Weigh on Businesses
Data for the second quarter of 2019, also released Friday, showed the economy expanded at a 2.1% annualized pace -- above the median projection -- following a 3.1% reading in the prior three months. GDP grew 2.3% in the second quarter from a year earlier, the slowest in two years.
The new data call into question Trump’s claim that he’s lifting growth to 3%-plus from 2% through a mixture of tax cuts, deregulation and a pro-America trade policy. GDP gains in the first two years of his presidency, though, did top the expansion’s 2.3% average.
Other highlights of the annual GDP revisions -- which cover data back to 2014 -- include a sharp upward adjustment in the personal savings rate last year and the adoption of new quality-adjusted price calculations for cellphones that exhibit steeper declines than previous figures.
The latest data from the Commerce Department’s Bureau of Economic Analysis also show that the economy ended 2018 on a much weaker footing than thought.
Growth in the final three months of 2018 is now pegged at an annualized 1.1%, half the previous estimate and the slowest pace in three years, as consumer spending downshifted significantly.
Corporate Profits
Corporations also fared poorly in the final three months of the year as their profits tumbled $18.6 billion on a seasonally adjusted annualized basis from the previous quarter. That’s close to double the previously estimated drop.
The steep slowdown in growth at the end of 2018 could provide fodder for Trump in his criticism of the Federal Reserve for raising interest rates, including a hike in December.
Faced with a sluggish global economy and elevated trade tensions, the Fed is widely expected by investors to cut borrowing costs next week for the first time in more than a decade.
As economic growth slowed throughout 2018, Americans socked away more money. The personal savings rate last year was 7.7% -- up from a previous estimate of 6.7% -- after 7% in 2017, the revised figures show.
Savings were boosted by bigger-than-previously-thought income from interest payments and dividends paid to investors. That suggests that wealthier individuals were the main beneficiaries.
The annual revision also reflects work that the BEA did with the Fed to improve the agency’s measurement of quality-adjusted cell phone prices.
Prices for cellular phone services are now seen as having fallen 26.7% from the fourth quarter of 2014 through the first quarter of this year. That compares with a 17.4% drop under the old calculation.
— With assistance by Jordan Yadoo

Stupid liberals would rather the growth go to China instead of the United States.

 

[Denizen]

Donald Trump has failed to get GDP growth above Obama era levels and it is down to 2.5%

"Data for the second quarter of 2019, also released Friday, showed the economy expanded at a 2.1%."

Like Donald Trump's life and his daily pronouncements, Donald Trump's proclamation of 3% growth was a big fat orange-haired lie.

Donald Trump has sent the economy into a downward spiral as Donald Trump' emergence has been demonstrated to be a dead cat bounce in its effect on the economy.

Company profits are falling and the growth has slowed to 1.1% in the final quarter of 2018.

Bloomberg - Are you a robot?

Trump’s 3% Growth Feat in 2018 Undone by Annual Data Revisions
By Rich Miller
July 26, 2019, 7:31 PM GMT+7
Update shows U.S. economy expanded 2.5% last year
Revisions also boost savings rate, lower cellphone prices

President Donald Trump failed to achieve his much-ballyhooed 3% target for economic growth in 2018 after all.
Updated government figures show that gross domestic product expanded 2.5% on a fourth-quarter-over-fourth-quarter basis last year. That compares with a previous estimate of 3% and an upwardly revised 2.8% in 2017, the first year of Trump’s presidency.
Behind the 2018 markdown: Slower growth of business investment and exports, along with a greater output in the fourth quarter of 2017 that made the comparison less favorable.
Related: U.S. Growth Slows to 2.1% as Trade Tensions Weigh on Businesses
Data for the second quarter of 2019, also released Friday, showed the economy expanded at a 2.1% annualized pace -- above the median projection -- following a 3.1% reading in the prior three months. GDP grew 2.3% in the second quarter from a year earlier, the slowest in two years.
The new data call into question Trump’s claim that he’s lifting growth to 3%-plus from 2% through a mixture of tax cuts, deregulation and a pro-America trade policy. GDP gains in the first two years of his presidency, though, did top the expansion’s 2.3% average.
Other highlights of the annual GDP revisions -- which cover data back to 2014 -- include a sharp upward adjustment in the personal savings rate last year and the adoption of new quality-adjusted price calculations for cellphones that exhibit steeper declines than previous figures.
The latest data from the Commerce Department’s Bureau of Economic Analysis also show that the economy ended 2018 on a much weaker footing than thought.
Growth in the final three months of 2018 is now pegged at an annualized 1.1%, half the previous estimate and the slowest pace in three years, as consumer spending downshifted significantly.
Corporate Profits
Corporations also fared poorly in the final three months of the year as their profits tumbled $18.6 billion on a seasonally adjusted annualized basis from the previous quarter. That’s close to double the previously estimated drop.
The steep slowdown in growth at the end of 2018 could provide fodder for Trump in his criticism of the Federal Reserve for raising interest rates, including a hike in December.
Faced with a sluggish global economy and elevated trade tensions, the Fed is widely expected by investors to cut borrowing costs next week for the first time in more than a decade.
As economic growth slowed throughout 2018, Americans socked away more money. The personal savings rate last year was 7.7% -- up from a previous estimate of 6.7% -- after 7% in 2017, the revised figures show.
Savings were boosted by bigger-than-previously-thought income from interest payments and dividends paid to investors. That suggests that wealthier individuals were the main beneficiaries.
The annual revision also reflects work that the BEA did with the Fed to improve the agency’s measurement of quality-adjusted cell phone prices.
Prices for cellular phone services are now seen as having fallen 26.7% from the fourth quarter of 2014 through the first quarter of this year. That compares with a 17.4% drop under the old calculation.
— With assistance by Jordan Yadoo

Stupid liberals would rather the growth go to China instead of the United States.

That's true. If the cancerous growth is Donald Trump and his Trumplings.

 

[Ricky LIbtardo]

Donald Trump has failed to get GDP growth above Obama era levels and it is down to 2.5%

"Data for the second quarter of 2019, also released Friday, showed the economy expanded at a 2.1%."

Like Donald Trump's life and his daily pronouncements, Donald Trump's proclamation of 3% growth was a big fat orange-haired lie.

Donald Trump has sent the economy into a downward spiral as Donald Trump' emergence has been demonstrated to be a dead cat bounce in its effect on the economy.

Company profits are falling and the growth has slowed to 1.1% in the final quarter of 2018.

Bloomberg - Are you a robot?

Trump’s 3% Growth Feat in 2018 Undone by Annual Data Revisions
By Rich Miller
July 26, 2019, 7:31 PM GMT+7
Update shows U.S. economy expanded 2.5% last year
Revisions also boost savings rate, lower cellphone prices

President Donald Trump failed to achieve his much-ballyhooed 3% target for economic growth in 2018 after all.
Updated government figures show that gross domestic product expanded 2.5% on a fourth-quarter-over-fourth-quarter basis last year. That compares with a previous estimate of 3% and an upwardly revised 2.8% in 2017, the first year of Trump’s presidency.
Behind the 2018 markdown: Slower growth of business investment and exports, along with a greater output in the fourth quarter of 2017 that made the comparison less favorable.
Related: U.S. Growth Slows to 2.1% as Trade Tensions Weigh on Businesses
Data for the second quarter of 2019, also released Friday, showed the economy expanded at a 2.1% annualized pace -- above the median projection -- following a 3.1% reading in the prior three months. GDP grew 2.3% in the second quarter from a year earlier, the slowest in two years.
The new data call into question Trump’s claim that he’s lifting growth to 3%-plus from 2% through a mixture of tax cuts, deregulation and a pro-America trade policy. GDP gains in the first two years of his presidency, though, did top the expansion’s 2.3% average.
Other highlights of the annual GDP revisions -- which cover data back to 2014 -- include a sharp upward adjustment in the personal savings rate last year and the adoption of new quality-adjusted price calculations for cellphones that exhibit steeper declines than previous figures.
The latest data from the Commerce Department’s Bureau of Economic Analysis also show that the economy ended 2018 on a much weaker footing than thought.
Growth in the final three months of 2018 is now pegged at an annualized 1.1%, half the previous estimate and the slowest pace in three years, as consumer spending downshifted significantly.
Corporate Profits
Corporations also fared poorly in the final three months of the year as their profits tumbled $18.6 billion on a seasonally adjusted annualized basis from the previous quarter. That’s close to double the previously estimated drop.
The steep slowdown in growth at the end of 2018 could provide fodder for Trump in his criticism of the Federal Reserve for raising interest rates, including a hike in December.
Faced with a sluggish global economy and elevated trade tensions, the Fed is widely expected by investors to cut borrowing costs next week for the first time in more than a decade.
As economic growth slowed throughout 2018, Americans socked away more money. The personal savings rate last year was 7.7% -- up from a previous estimate of 6.7% -- after 7% in 2017, the revised figures show.
Savings were boosted by bigger-than-previously-thought income from interest payments and dividends paid to investors. That suggests that wealthier individuals were the main beneficiaries.
The annual revision also reflects work that the BEA did with the Fed to improve the agency’s measurement of quality-adjusted cell phone prices.
Prices for cellular phone services are now seen as having fallen 26.7% from the fourth quarter of 2014 through the first quarter of this year. That compares with a 17.4% drop under the old calculation.
— With assistance by Jordan Yadoo

Stupid liberals would rather the growth go to China instead of the United States.

That's true. If the cancerous growth is Donald Trump and his Trumplings.

Too bad for lieberals. The growth is coming back to the US and there's nothing the liberals can do to stop it. China continues to slump and the longer China holds out on an election which Trump will win the worse it will be for both China and libtardos

 

[danielpalos]

Donald Trump has failed to get GDP growth above Obama era levels and it is down to 2.5%

"Data for the second quarter of 2019, also released Friday, showed the economy expanded at a 2.1%."

Like Donald Trump's life and his daily pronouncements, Donald Trump's proclamation of 3% growth was a big fat orange-haired lie.

Donald Trump has sent the economy into a downward spiral as Donald Trump' emergence has been demonstrated to be a dead cat bounce in its effect on the economy.

Company profits are falling and the growth has slowed to 1.1% in the final quarter of 2018.

Bloomberg - Are you a robot?

Trump’s 3% Growth Feat in 2018 Undone by Annual Data Revisions
By Rich Miller
July 26, 2019, 7:31 PM GMT+7
Update shows U.S. economy expanded 2.5% last year
Revisions also boost savings rate, lower cellphone prices

President Donald Trump failed to achieve his much-ballyhooed 3% target for economic growth in 2018 after all.
Updated government figures show that gross domestic product expanded 2.5% on a fourth-quarter-over-fourth-quarter basis last year. That compares with a previous estimate of 3% and an upwardly revised 2.8% in 2017, the first year of Trump’s presidency.
Behind the 2018 markdown: Slower growth of business investment and exports, along with a greater output in the fourth quarter of 2017 that made the comparison less favorable.
Related: U.S. Growth Slows to 2.1% as Trade Tensions Weigh on Businesses
Data for the second quarter of 2019, also released Friday, showed the economy expanded at a 2.1% annualized pace -- above the median projection -- following a 3.1% reading in the prior three months. GDP grew 2.3% in the second quarter from a year earlier, the slowest in two years.
The new data call into question Trump’s claim that he’s lifting growth to 3%-plus from 2% through a mixture of tax cuts, deregulation and a pro-America trade policy. GDP gains in the first two years of his presidency, though, did top the expansion’s 2.3% average.
Other highlights of the annual GDP revisions -- which cover data back to 2014 -- include a sharp upward adjustment in the personal savings rate last year and the adoption of new quality-adjusted price calculations for cellphones that exhibit steeper declines than previous figures.
The latest data from the Commerce Department’s Bureau of Economic Analysis also show that the economy ended 2018 on a much weaker footing than thought.
Growth in the final three months of 2018 is now pegged at an annualized 1.1%, half the previous estimate and the slowest pace in three years, as consumer spending downshifted significantly.
Corporate Profits
Corporations also fared poorly in the final three months of the year as their profits tumbled $18.6 billion on a seasonally adjusted annualized basis from the previous quarter. That’s close to double the previously estimated drop.
The steep slowdown in growth at the end of 2018 could provide fodder for Trump in his criticism of the Federal Reserve for raising interest rates, including a hike in December.
Faced with a sluggish global economy and elevated trade tensions, the Fed is widely expected by investors to cut borrowing costs next week for the first time in more than a decade.
As economic growth slowed throughout 2018, Americans socked away more money. The personal savings rate last year was 7.7% -- up from a previous estimate of 6.7% -- after 7% in 2017, the revised figures show.
Savings were boosted by bigger-than-previously-thought income from interest payments and dividends paid to investors. That suggests that wealthier individuals were the main beneficiaries.
The annual revision also reflects work that the BEA did with the Fed to improve the agency’s measurement of quality-adjusted cell phone prices.
Prices for cellular phone services are now seen as having fallen 26.7% from the fourth quarter of 2014 through the first quarter of this year. That compares with a 17.4% drop under the old calculation.
— With assistance by Jordan Yadoo

...the best, tax cut economics can do?

 

[Thinker101]

Donald Trump has failed to get GDP growth above Obama era levels and it is down to 2.5%

"Data for the second quarter of 2019, also released Friday, showed the economy expanded at a 2.1%."

Like Donald Trump's life and his daily pronouncements, Donald Trump's proclamation of 3% growth was a big fat orange-haired lie.

Donald Trump has sent the economy into a downward spiral as Donald Trump' emergence has been demonstrated to be a dead cat bounce in its effect on the economy.

Company profits are falling and the growth has slowed to 1.1% in the final quarter of 2018.

Bloomberg - Are you a robot?

Trump’s 3% Growth Feat in 2018 Undone by Annual Data Revisions
By Rich Miller
July 26, 2019, 7:31 PM GMT+7
Update shows U.S. economy expanded 2.5% last year
Revisions also boost savings rate, lower cellphone prices

President Donald Trump failed to achieve his much-ballyhooed 3% target for economic growth in 2018 after all.
Updated government figures show that gross domestic product expanded 2.5% on a fourth-quarter-over-fourth-quarter basis last year. That compares with a previous estimate of 3% and an upwardly revised 2.8% in 2017, the first year of Trump’s presidency.
Behind the 2018 markdown: Slower growth of business investment and exports, along with a greater output in the fourth quarter of 2017 that made the comparison less favorable.
Related: U.S. Growth Slows to 2.1% as Trade Tensions Weigh on Businesses
Data for the second quarter of 2019, also released Friday, showed the economy expanded at a 2.1% annualized pace -- above the median projection -- following a 3.1% reading in the prior three months. GDP grew 2.3% in the second quarter from a year earlier, the slowest in two years.
The new data call into question Trump’s claim that he’s lifting growth to 3%-plus from 2% through a mixture of tax cuts, deregulation and a pro-America trade policy. GDP gains in the first two years of his presidency, though, did top the expansion’s 2.3% average.
Other highlights of the annual GDP revisions -- which cover data back to 2014 -- include a sharp upward adjustment in the personal savings rate last year and the adoption of new quality-adjusted price calculations for cellphones that exhibit steeper declines than previous figures.
The latest data from the Commerce Department’s Bureau of Economic Analysis also show that the economy ended 2018 on a much weaker footing than thought.
Growth in the final three months of 2018 is now pegged at an annualized 1.1%, half the previous estimate and the slowest pace in three years, as consumer spending downshifted significantly.
Corporate Profits
Corporations also fared poorly in the final three months of the year as their profits tumbled $18.6 billion on a seasonally adjusted annualized basis from the previous quarter. That’s close to double the previously estimated drop.
The steep slowdown in growth at the end of 2018 could provide fodder for Trump in his criticism of the Federal Reserve for raising interest rates, including a hike in December.
Faced with a sluggish global economy and elevated trade tensions, the Fed is widely expected by investors to cut borrowing costs next week for the first time in more than a decade.
As economic growth slowed throughout 2018, Americans socked away more money. The personal savings rate last year was 7.7% -- up from a previous estimate of 6.7% -- after 7% in 2017, the revised figures show.
Savings were boosted by bigger-than-previously-thought income from interest payments and dividends paid to investors. That suggests that wealthier individuals were the main beneficiaries.
The annual revision also reflects work that the BEA did with the Fed to improve the agency’s measurement of quality-adjusted cell phone prices.
Prices for cellular phone services are now seen as having fallen 26.7% from the fourth quarter of 2014 through the first quarter of this year. That compares with a 17.4% drop under the old calculation.
— With assistance by Jordan Yadoo

Dang, my 401K disagrees with you.

 

[Denizen]

Donald Trump has failed to get GDP growth above Obama era levels and it is down to 2.5%

"Data for the second quarter of 2019, also released Friday, showed the economy expanded at a 2.1%."

Like Donald Trump's life and his daily pronouncements, Donald Trump's proclamation of 3% growth was a big fat orange-haired lie.

Donald Trump has sent the economy into a downward spiral as Donald Trump' emergence has been demonstrated to be a dead cat bounce in its effect on the economy.

Company profits are falling and the growth has slowed to 1.1% in the final quarter of 2018.

Bloomberg - Are you a robot?

Trump’s 3% Growth Feat in 2018 Undone by Annual Data Revisions
By Rich Miller
July 26, 2019, 7:31 PM GMT+7
Update shows U.S. economy expanded 2.5% last year
Revisions also boost savings rate, lower cellphone prices

President Donald Trump failed to achieve his much-ballyhooed 3% target for economic growth in 2018 after all.
Updated government figures show that gross domestic product expanded 2.5% on a fourth-quarter-over-fourth-quarter basis last year. That compares with a previous estimate of 3% and an upwardly revised 2.8% in 2017, the first year of Trump’s presidency.
Behind the 2018 markdown: Slower growth of business investment and exports, along with a greater output in the fourth quarter of 2017 that made the comparison less favorable.
Related: U.S. Growth Slows to 2.1% as Trade Tensions Weigh on Businesses
Data for the second quarter of 2019, also released Friday, showed the economy expanded at a 2.1% annualized pace -- above the median projection -- following a 3.1% reading in the prior three months. GDP grew 2.3% in the second quarter from a year earlier, the slowest in two years.
The new data call into question Trump’s claim that he’s lifting growth to 3%-plus from 2% through a mixture of tax cuts, deregulation and a pro-America trade policy. GDP gains in the first two years of his presidency, though, did top the expansion’s 2.3% average.
Other highlights of the annual GDP revisions -- which cover data back to 2014 -- include a sharp upward adjustment in the personal savings rate last year and the adoption of new quality-adjusted price calculations for cellphones that exhibit steeper declines than previous figures.
The latest data from the Commerce Department’s Bureau of Economic Analysis also show that the economy ended 2018 on a much weaker footing than thought.
Growth in the final three months of 2018 is now pegged at an annualized 1.1%, half the previous estimate and the slowest pace in three years, as consumer spending downshifted significantly.
Corporate Profits
Corporations also fared poorly in the final three months of the year as their profits tumbled $18.6 billion on a seasonally adjusted annualized basis from the previous quarter. That’s close to double the previously estimated drop.
The steep slowdown in growth at the end of 2018 could provide fodder for Trump in his criticism of the Federal Reserve for raising interest rates, including a hike in December.
Faced with a sluggish global economy and elevated trade tensions, the Fed is widely expected by investors to cut borrowing costs next week for the first time in more than a decade.
As economic growth slowed throughout 2018, Americans socked away more money. The personal savings rate last year was 7.7% -- up from a previous estimate of 6.7% -- after 7% in 2017, the revised figures show.
Savings were boosted by bigger-than-previously-thought income from interest payments and dividends paid to investors. That suggests that wealthier individuals were the main beneficiaries.
The annual revision also reflects work that the BEA did with the Fed to improve the agency’s measurement of quality-adjusted cell phone prices.
Prices for cellular phone services are now seen as having fallen 26.7% from the fourth quarter of 2014 through the first quarter of this year. That compares with a 17.4% drop under the old calculation.
— With assistance by Jordan Yadoo

Stupid liberals would rather the growth go to China instead of the United States.

That's true. If the cancerous growth is Donald Trump and his Trumplings.

Too bad for lieberals. The growth is coming back to the US and there's nothing the liberals can do to stop it. China continues to slump and the longer China holds out on an election which Trump will win the worse it will be for both China and libtardos

The biggest growth US is seeing is hate, nepotism, and despotism. The rest is an illusion. The latest reported growth is 1.8% which is lower than Obama's era.

 

[Denizen]

Donald Trump has failed to get GDP growth above Obama era levels and it is down to 2.5%

"Data for the second quarter of 2019, also released Friday, showed the economy expanded at a 2.1%."

Like Donald Trump's life and his daily pronouncements, Donald Trump's proclamation of 3% growth was a big fat orange-haired lie.

Donald Trump has sent the economy into a downward spiral as Donald Trump' emergence has been demonstrated to be a dead cat bounce in its effect on the economy.

Company profits are falling and the growth has slowed to 1.1% in the final quarter of 2018.

Bloomberg - Are you a robot?

Trump’s 3% Growth Feat in 2018 Undone by Annual Data Revisions
By Rich Miller
July 26, 2019, 7:31 PM GMT+7
Update shows U.S. economy expanded 2.5% last year
Revisions also boost savings rate, lower cellphone prices

President Donald Trump failed to achieve his much-ballyhooed 3% target for economic growth in 2018 after all.
Updated government figures show that gross domestic product expanded 2.5% on a fourth-quarter-over-fourth-quarter basis last year. That compares with a previous estimate of 3% and an upwardly revised 2.8% in 2017, the first year of Trump’s presidency.
Behind the 2018 markdown: Slower growth of business investment and exports, along with a greater output in the fourth quarter of 2017 that made the comparison less favorable.
Related: U.S. Growth Slows to 2.1% as Trade Tensions Weigh on Businesses
Data for the second quarter of 2019, also released Friday, showed the economy expanded at a 2.1% annualized pace -- above the median projection -- following a 3.1% reading in the prior three months. GDP grew 2.3% in the second quarter from a year earlier, the slowest in two years.
The new data call into question Trump’s claim that he’s lifting growth to 3%-plus from 2% through a mixture of tax cuts, deregulation and a pro-America trade policy. GDP gains in the first two years of his presidency, though, did top the expansion’s 2.3% average.
Other highlights of the annual GDP revisions -- which cover data back to 2014 -- include a sharp upward adjustment in the personal savings rate last year and the adoption of new quality-adjusted price calculations for cellphones that exhibit steeper declines than previous figures.
The latest data from the Commerce Department’s Bureau of Economic Analysis also show that the economy ended 2018 on a much weaker footing than thought.
Growth in the final three months of 2018 is now pegged at an annualized 1.1%, half the previous estimate and the slowest pace in three years, as consumer spending downshifted significantly.
Corporate Profits
Corporations also fared poorly in the final three months of the year as their profits tumbled $18.6 billion on a seasonally adjusted annualized basis from the previous quarter. That’s close to double the previously estimated drop.
The steep slowdown in growth at the end of 2018 could provide fodder for Trump in his criticism of the Federal Reserve for raising interest rates, including a hike in December.
Faced with a sluggish global economy and elevated trade tensions, the Fed is widely expected by investors to cut borrowing costs next week for the first time in more than a decade.
As economic growth slowed throughout 2018, Americans socked away more money. The personal savings rate last year was 7.7% -- up from a previous estimate of 6.7% -- after 7% in 2017, the revised figures show.
Savings were boosted by bigger-than-previously-thought income from interest payments and dividends paid to investors. That suggests that wealthier individuals were the main beneficiaries.
The annual revision also reflects work that the BEA did with the Fed to improve the agency’s measurement of quality-adjusted cell phone prices.
Prices for cellular phone services are now seen as having fallen 26.7% from the fourth quarter of 2014 through the first quarter of this year. That compares with a 17.4% drop under the old calculation.
— With assistance by Jordan Yadoo

...the best, tax cut economics can do?

The tax cuts went to the wealthy who don't spend big as a percentage of their net income.

 

[Truth1253]

Donald Trump has failed to get GDP growth above Obama era levels and it is down to 2.5%

"Data for the second quarter of 2019, also released Friday, showed the economy expanded at a 2.1%."

Like Donald Trump's life and his daily pronouncements, Donald Trump's proclamation of 3% growth was a big fat orange-haired lie.

Donald Trump has sent the economy into a downward spiral as Donald Trump' emergence has been demonstrated to be a dead cat bounce in its effect on the economy.

Company profits are falling and the growth has slowed to 1.1% in the final quarter of 2018.

Bloomberg - Are you a robot?

Trump’s 3% Growth Feat in 2018 Undone by Annual Data Revisions
By Rich Miller
July 26, 2019, 7:31 PM GMT+7
Update shows U.S. economy expanded 2.5% last year
Revisions also boost savings rate, lower cellphone prices

President Donald Trump failed to achieve his much-ballyhooed 3% target for economic growth in 2018 after all.
Updated government figures show that gross domestic product expanded 2.5% on a fourth-quarter-over-fourth-quarter basis last year. That compares with a previous estimate of 3% and an upwardly revised 2.8% in 2017, the first year of Trump’s presidency.
Behind the 2018 markdown: Slower growth of business investment and exports, along with a greater output in the fourth quarter of 2017 that made the comparison less favorable.
Related: U.S. Growth Slows to 2.1% as Trade Tensions Weigh on Businesses
Data for the second quarter of 2019, also released Friday, showed the economy expanded at a 2.1% annualized pace -- above the median projection -- following a 3.1% reading in the prior three months. GDP grew 2.3% in the second quarter from a year earlier, the slowest in two years.
The new data call into question Trump’s claim that he’s lifting growth to 3%-plus from 2% through a mixture of tax cuts, deregulation and a pro-America trade policy. GDP gains in the first two years of his presidency, though, did top the expansion’s 2.3% average.
Other highlights of the annual GDP revisions -- which cover data back to 2014 -- include a sharp upward adjustment in the personal savings rate last year and the adoption of new quality-adjusted price calculations for cellphones that exhibit steeper declines than previous figures.
The latest data from the Commerce Department’s Bureau of Economic Analysis also show that the economy ended 2018 on a much weaker footing than thought.
Growth in the final three months of 2018 is now pegged at an annualized 1.1%, half the previous estimate and the slowest pace in three years, as consumer spending downshifted significantly.
Corporate Profits
Corporations also fared poorly in the final three months of the year as their profits tumbled $18.6 billion on a seasonally adjusted annualized basis from the previous quarter. That’s close to double the previously estimated drop.
The steep slowdown in growth at the end of 2018 could provide fodder for Trump in his criticism of the Federal Reserve for raising interest rates, including a hike in December.
Faced with a sluggish global economy and elevated trade tensions, the Fed is widely expected by investors to cut borrowing costs next week for the first time in more than a decade.
As economic growth slowed throughout 2018, Americans socked away more money. The personal savings rate last year was 7.7% -- up from a previous estimate of 6.7% -- after 7% in 2017, the revised figures show.
Savings were boosted by bigger-than-previously-thought income from interest payments and dividends paid to investors. That suggests that wealthier individuals were the main beneficiaries.
The annual revision also reflects work that the BEA did with the Fed to improve the agency’s measurement of quality-adjusted cell phone prices.
Prices for cellular phone services are now seen as having fallen 26.7% from the fourth quarter of 2014 through the first quarter of this year. That compares with a 17.4% drop under the old calculation.
— With assistance by Jordan Yadoo

Stupid liberals would rather the growth go to China instead of the United States.

That's true. If the cancerous growth is Donald Trump and his Trumplings.

Too bad for lieberals. The growth is coming back to the US and there's nothing the liberals can do to stop it. China continues to slump and the longer China holds out on an election which Trump will win the worse it will be for both China and libtardos

The biggest growth US is seeing is hate, nepotism, and despotism. The rest is an illusion. The latest reported growth is 1.8% which is lower than Obama's era.

Published yesterday

GDP slows to 2.1% in second quarter but beats expectations thanks to strong consumer

 

[Harpy Eagle]

As long as my stocks are higher, I will applaud the illusion.

stock growth has been abysmal since the start of the trade war some 500 plus days ago.

 

[Harpy Eagle]

Donald Trump has failed to get GDP growth above Obama era levels and it is down to 2.5%

"Data for the second quarter of 2019, also released Friday, showed the economy expanded at a 2.1%."

Like Donald Trump's life and his daily pronouncements, Donald Trump's proclamation of 3% growth was a big fat orange-haired lie.

Donald Trump has sent the economy into a downward spiral as Donald Trump' emergence has been demonstrated to be a dead cat bounce in its effect on the economy.

Company profits are falling and the growth has slowed to 1.1% in the final quarter of 2018.

Bloomberg - Are you a robot?

Stupid liberals would rather the growth go to China instead of the United States.

That's true. If the cancerous growth is Donald Trump and his Trumplings.

Too bad for lieberals. The growth is coming back to the US and there's nothing the liberals can do to stop it. China continues to slump and the longer China holds out on an election which Trump will win the worse it will be for both China and libtardos

The biggest growth US is seeing is hate, nepotism, and despotism. The rest is an illusion. The latest reported growth is 1.8% which is lower than Obama's era.

Published yesterday

GDP slows to 2.1% in second quarter but beats expectations thanks to strong consumer

I remember the old days when the Repubs said that 2.1% growth was bad, now it is something for them to brag about.

 

[Dekster]

As long as my stocks are higher, I will applaud the illusion.

stock growth has been abysmal since the start of the trade war some 500 plus days ago.

Depends on the stocks

 

[Truth1253]

Stupid liberals would rather the growth go to China instead of the United States.

That's true. If the cancerous growth is Donald Trump and his Trumplings.

Too bad for lieberals. The growth is coming back to the US and there's nothing the liberals can do to stop it. China continues to slump and the longer China holds out on an election which Trump will win the worse it will be for both China and libtardos

The biggest growth US is seeing is hate, nepotism, and despotism. The rest is an illusion. The latest reported growth is 1.8% which is lower than Obama's era.

Published yesterday

GDP slows to 2.1% in second quarter but beats expectations thanks to strong consumer

I remember the old days when the Repubs said that 2.1% growth was bad, now it is something for them to brag about.

Are you talking about Reagan era? Republicans are weak. I vote Conservative [emoji631]

 

[Timmy]

Remember the righty mantra of “Obama never had two consecutive quarters of 3% growth”? Another thing we don’t hear anymore.

 

[Harpy Eagle]

That's true. If the cancerous growth is Donald Trump and his Trumplings.

Too bad for lieberals. The growth is coming back to the US and there's nothing the liberals can do to stop it. China continues to slump and the longer China holds out on an election which Trump will win the worse it will be for both China and libtardos

The biggest growth US is seeing is hate, nepotism, and despotism. The rest is an illusion. The latest reported growth is 1.8% which is lower than Obama's era.

Published yesterday

GDP slows to 2.1% in second quarter but beats expectations thanks to strong consumer

I remember the old days when the Repubs said that 2.1% growth was bad, now it is something for them to brag about.

Are you talking about Reagan era? Republicans are weak. I vote Conservative [emoji631]

But you are a Trumpian and he is not even close to a Conservative