Archive for gdp

Chart: Economic growth exceeds expectations


blame Obama 2

No thanks to the GOP. Via a Fox Biz email alert:

A report from payroll processor ADP shows the U.S. private sector tacked on 200,000 jobs in July, beating expectations of 180,000.

maddow blog chart growth exceeds expectations

Via Steve Benen at The Maddow Blog, where there is more info:

Of course, this morning's report would have shown GDP growth over 2% had it not been for reductions in government spending, mandated by conservative policymakers who believe the recovery will be stronger if they weaken it by taking capital out of the economy. The caveat to this is that conservative austerity measures at the state and local levels appears to have come to an end, which helps mitigate the deliberate damage done by congressional Republicans.

Incidentally, this is also the report that revises previous GDP estimates, and it now appears the economy grew at a 2.8% annual rate in 2012, up from the previous 2.2% estimate.


GDP Growth Revised Upward To 3.1%



It may seem slow, but at least we're getting somewhere. Aren't the wingers always griping about the GDP? There's a tasty one for them to chew on.

Economic output grew at an annual rate of 3.1 percent in the third quarter, the Commerce Department reported today. That figure is the third and final estimate of last quarter's GDP growth, and it represents a boost from a previously reported 2.7 percent.

A variety of factors contributed to economic growth last quarter, including consumer spending, federal government spending, and residential fixed investment, which includes home purchases and renovations. The department reports that the new estimate does not substantially change the broader portrait of the nation's economy, though new data do show that consumer spending is showing a "modest pickup," while imports, which subtract from GDP, are falling off.

"In a real sense, I think what this number does is it ratifies the employment reports we've been seeing," says Joel Naroff, president and chief economist at Naroff Economic Advisors. Unemployment was at 8.3 percent in July, but by the end of the quarter in September, it had fallen to 7.8 percent. A growth rate of 3.1 percent is more congruous with that kind of labor market improvement than the Commerce Department's initial estimate of 2.0 percent, says Naroff.


Quickie- Economy Grows at 2% Rate


Taegan gives us something to smile about.

The U.S. gross domestic product "grew at an annual rate of 2% in the third quarter as consumers spent more, federal-government spending accelerated and the housing industry improved," the Wall Street Journal reports.


US business stockpiles grew solid 0.6 percent in August as sales rose 0.5 percent


Not barn burning, but a slow steady growth. Apparently economists are feeling the growth too.

WASHINGTON (AP) — U.S. companies restocked their shelves at a solid pace in August while sales rose for a second straight month. The combination of higher stockpiles and increased sales should help to boost economic growth.

Business inventories grew 0.6 percent in August following a July gain of 0.8 percent that had been the strongest since January, the Commerce Department said Monday. Sales were up 0.5 percent in August following a 0.9 percent rise in July that followed a big drop in June.

Companies typically boost their stockpiles when they anticipate sales will rise in coming months. Faster restocking helps drive economic growth. When businesses order more goods, it typically leads to more factory production.


U.S. Economic Growth Accelerates


You know it must have killed the WSJ to write this article.

U.S. economic growth accelerated this summer as consumers and businesses boosted spending, allaying at least for now concerns of a slide back toward recession.

Separately, new claims for unemployment benefits fell slightly last week yet remained elevated, showing that the labor market is still struggling to find its footing.

Gross domestic product, the broadest measure of all the goods and services produced in an economy, grew at an inflation-adjusted annual rate of 2.5% from July through September, the strongest performance in a year.

Economists surveyed by Dow Jones Newswires expected GDP to rise 2.7%.


Goldman Sachs: House Spending Cuts Will Hurt Economic Growth


The R's don't give a crap, they just want to sabotage the President and feed the teabaggers.

A confidential new report prepared by Goldman Sachs for its clients says spending cuts passed by the House of Representatives last week would be a drag on the economy, cutting economic growth by about two percent of GDP.

“Under the House passed spending bill [which cut spending by $61 billion],” says the report, which was obtained by ABC News, “the drag on GDP growth from federal fiscal policy would increase by 1.5pp to 2pp in Q2 and Q3 compared with current law.”

The report, which is signed by Goldman economist Alec Phillips, goes on to predict that the House-passed bill is unlikely to become law because it won’t pass the Senate and, in any case, the president threatened to veto it.