Friday, October 26, 2018

GDP at 3.5%

Unexpectedly, of course!

More Winning!
The U.S. economy grew at a faster-than-expected rate in the third quarter as inflation was kept in check and consumer spending surged, according to data released by the Commerce Department on Friday.
Consumer spending, which accounts for more than two thirds of U.S. economic activity, grew by 4 percent in the third quarter, the strongest since the fourth quarter of 2014.
While stronger than expected, the overall expansion was a slower pace of growth than in the previous quarter. Gross domestic product grew by 4.2 percent in the second quarter, marking the fastest quarterly expansion since the third quarter of 2014. The economy increased by 2.2 percent annual pace in the first quarter of the year.

35 comments:

commie said...

Only a decrease of .7% from last quarter.....still won't make a 3% year....And I am certain, it will become the latest hammer like the caravan to point out what a great asshole in chief we have.....

Anonymous said...

U.S. economic growth slows less than expected in third quarter
sg.finance.yahoo.com/news/weak-soybean-exports...
The U.S. economy grows at a faster-than-expected rate in the third quarter as inflation was kept in check and consumer spending surged, according to Commerce Department data.

Anonymous said...




we need to elect democrats so we can put an end to all this bullshit economic growth.

i mean, why wouldn't we want to go back to 0linsky's new normal of sub-2.0% GDP growth???

commie said...

The growth pace, however, likely exaggerates the health of the economy as inventories, goods yet to be sold, accounted for nearly a quarter of GDP growth. Excluding inventory investment, the economy grew at a 2.5 percent rate. When measured from the income side, output also expanded at a 2.5 percent rate.

C.H. Truth said...

still won't make a 3% year

1st Quarter: 2.2
2nd Quarter: 4.2
3rd Quarter: 3.5

Right now through three quarters we are averaging 3.3% growth.

Looks like a pretty solid chance that we will stay over 3% for the year.

Anonymous said...

The growth pace, however, likely exaggerates the health of the economy as inventories, goods yet to be sold, accounted for nearly a quarter of GDP growth. Excluding inventory investment, the economy grew at a 2.5 percent rate. When measured from the income side, output also expanded at a 2.5 percent rate.



the above was sourced here:

BUSINESS NEWS NOVEMBER 29, 2017 / 8:35 AM / A YEAR AGO

U.S. third-quarter economic growth fastest in three years


https://www.reuters.com/article/us-usa-economy-gdp/u-s-third-quarter-economic-growth-fastest-in-three-years-idUSKBN1DT1W7


anonymous said...

How trump treats vets and those on medicaid.....

“He said, ‘My left leg is numb, I’m in excruciating pain, and I can’t walk,'” Nagengast told Yahoo Lifestyle. Disembarking from the plane, she called him back, and he explained to his sister the complicated scenario: He couldn’t call 911, because he’s on disability, and if ambulance workers decided his condition is not life-threatening, he might have to pay the medical bills in full. There were only two cab drivers in town and no Uber, and he couldn’t afford to pay for a car anyway. To add insult to injury, he didn’t feel comfortable with his social worker and was hesitant to call her.

Anonymous said...



Looks like a pretty solid chance that we will stay over 3% for the year.

has acme reported earnings yet? word on the street is that their bomb, bird food, rocket sled, and rocket roller skates sales have skyrocketed.


commie said...

Market reaction ..so far....YAWN!!!!

The profits have materialized. But nearly 10 months in, the S&P 500 stock index is a big disappointment, essentially flat for the year. It spiked at the beginning of the year, spiraled into a 10% correction and crawled back to a new high in September, before a sharp October selloff. Stocks are still up about 26% since Trump got elected, but it seems increasingly likely the first two years of Trump’s presidency might be the high-water mark for investors.

No single factor explains the October selloff, which has occurred amid rising interest rates, the gradual tightening of monetary policy, an intensifying trade war with China and some forecasts of lower corporate earnings on the horizon. “These worries are likely to get worse over the next 12 months or so,” Capital Economics said in a recent research note. “Our forecasts are for stock markets to fall much further.”

Others think stocks will recover, and end the year up. Plus, the underlying economy remains strong, with unemployment at a super-low 3.7%. If GDP growth hits 3% this year—perhaps a 50-50 likelihood—it would be the strongest growth since 2005.

Trump’s bold predictions

Yet Trump has made bold predictions about the effect of his economic policies that don’t seem close to panning out. He predicted his tax cuts and deregulatory efforts would produce annual growth rate of 3% or better. Yet forecasting firms such as IHS Markit and Moody’s Analytics see growth slowing, not improving, in 2019 and 2020, with a recession possible. It’s quite possible that growth peaked in the second quarter of this year and will gradually decline for the foreseeable future.

The White House claims the Trump tax cuts, passed with zero Democratic support, will boost GDP growth by 3% to 5%, and raise take-home pay for the average household by at least $4,000 per year. But pay is only rising 2.8% so far this year, which is roughly the rate of inflation. Most ordinary people haven’t noticed a pay bump from the tax cuts, which is why the law remains unpopular and a liability for Republicans in the upcoming midterm elections.

commie said...

Another terror target...SHOCKING!!!

Suspicious package addressed to James Clapper found in Midtown post office, New Jersey Sen. Cory Booker also targeted

Coldheartedtruth Teller said...

U.S. stocks fell sharply on Friday as the release of disappointing quarterly results from key tech companies overshadowed strong economy data.

The S&P 500 fell 2.4 percent and is now down more than 10 percent from its 52-week high, entering correction territory.

The Dow Jones Industrial Average fell 429 points at the open, with Cisco Systems lagging. Meanwhile, the Nasdaq Composite dropped 3 percent.


Amazon and Google-parent company Alphabet fell 8.6 percent and 4.9 percent, respectively, after they released their latest quarterly results. Earnings for both companies topped analyst estimates, but revenues fell short.

There were "high expectations" for this earnings season, King Lip, chief strategist at Baker Avenue Asset Management, told CNBC. "The earnings are not coming in as great as people had suspected," Lip said, adding that "for Amazon specifically, forward guidance was surprisingly light."

PLAY VIDEO
Federal Reserve Chairman Jerome Powell appears on a television on the floor of the New York Stock Exchange.
These declines were enough to offset a better-than-expected report on U.S. economy growth. The Commerce Department reported the U.S. economy grew at a 3.5 percent rate in the third quarter, above a 3.4 percent estimate. The government also said its personal consumption expenditures (PCE) index, a key measure of inflation, increased by 1.6 percent last quarter.

Stock have suffered in recent weeks as fears of rising inflation — and rising interest rates — trim corporate profit expectations. Since the PCE index is the Federal Reserve's preferred inflation gauge, any sign that the measure may be slowing could stall the central bank in its plan to continue to raise the overnight rate.

Consumer spending, which account for more than two-thirds of economic activity, surged by 4 percent in the third quarter, the fastest pace since the fourth quarter of 2014.

Friday's decline comes after equities rallied in the previous session. The major average are also set to post big losses for the week. The S&P 500 and Dow are down 2.2 percent and 1.8 percent this week, respectively, entering Friday's session.

PLAY VIDEO
Why you shouldn't panic when stocks are getting slammed
These losses also add to a sharp drop seen throughout this month. Through Thursday's close, the Dow and S&P 500 were down 5.6 percent and 7.2 percent for October, respectively. The Nasdaq, meanwhile, had lost 9.1 percent.

Several factors have conspired to knock markets down this month — some earnings disappointment, fear of rising interest rates, a brewing conflict between Italy and the European Union over budget spending, criticism of oil power Saudi Arabia after the killing of a dissident journalist and finally, worries that world growth is losing steam.

Coldheartedtruth Teller said...

S&P 500 drops into correction territory, down 10% from its record in September - http://cnbc.com/id/105531827

Anonymous said...




and here we go, folks!

your daily alky-lanche of stories you've read HOURS AGO.

thanks alky!!!


Anonymous said...




oh btw alky,

and i wouldn't expect you to know this since you're on a nail benders pension but... investors like me are in the market for the long run. pull backs, corrections and declines matter little when you investment horizon is measured in DECADES.

but thanks for your concern anyway, alky.

now then, aren't you about to tell us about how 0linsky set the table for the recent market decline???

commie said...

And the avalanche by rectum breath trying to rationalize why he sucks on trumps dick is most amusing....

Please tell us how much better you are off since health care and inflation is soaring....

commie said...

Unexpectedly, the dow down 400 pts or so and the S + P into correction territory on great economic news....How can that be???? Must be the threat of the caravan.....idiots

Coldheartedtruth Teller said...

The average stock market correction results in a 13.8 percent drop and lasts five months, according to Gluskin Sheff Research.

COMMIE said...

OLD WHITE MALE IN CUSTODY.....!!!!

Coldheartedtruth Teller said...

Trump has been in office for almost two years. He inherited an economy in recovery from the worst recession since 1929.

The stock market has fallen farther in one month in recent history. You can't blame Obama for this market correction.

Coldheartedtruth Teller said...

In Florida

Coldheartedtruth Teller said...

manwas arrested in Florida on Friday morning in connection with the ongoing investigation of 12 suspected mail bombs sent to former president Barack Obama, Hillary Clinton, and other leading critics of President Donald Trump, the U.S. Justice Department said

MSNBC was showing images of signicant police activiy around an auto parts store in Plantation, Florida.

NBC News reported that the person taken into custody was a man who appeared to be in his 50s.


The Justice Department has scheduled a news conference in the case at 2:30 p.m., Eastern time.


My conspiracy theory has been suspended lol

Anonymous said...

He inherited an economy in recovery from the worst recession since 1929.

no he did not.

he inherited 0linsky's "new normal" of sub 2% GDP.

skeets himself mocked trump during the campaign for needing a magic wand to bring back those jobs that skeets had repeatedly told us were gone forever and "not coming back."

trump restored manufacturing. skeets said it was gone forever. so you don't get to give the magic negro credit for something that he himself said was impossible.

it's called logic, alky.

get some.

Coldheartedtruth Teller said...

You are showing signs of dementia.
I said "He inherited an economy in recovery from the worst recession since 1929." In reference to Barack Obama. The economy was losing 800,000 jobs per month.

If you take out the first six months of the economic recovery under President Obama was close to 3% and the longest economic recovery in history.

It's called facts. get some

commie said...

Bombers van covered in Trump propaganda......Gee, color me shocked!!!!

Anonymous said...




If you take out the first six months of the economic recovery under President Obama


uh, no. nice try alky.

you don't get to "take out" six months, six days, or six minutes. no one forced 0linsky into the presidency. he signed up for it. all of it. including the first six months of it.

typical liberal. always trying to take credit for the good and blame someone else for the bad.

come to mention it, that's basically what's happening in venezuela right now...

it's called intellectual honesty, alky.

get some.



commie said...

no one forced 0linsky into the presidency. he signed up for it. all of it. including the first six months

You sure are chocking on trumps dick with that Line of BS....in your mind, those million or so jobs lost then are also his .....yeah, you are proving why you flunked out of ag school....LOLOLOL

Anonymous said...



house negro too-ray on MSDNC has deduced that trump is definitely to blame for maga hoax bombs because hoax bomber van covered in trump decals.

kinda like last june when MSDNC blamed bernie sanders for the ballfield shooter who almost killed steve scalise... not.


Coldheartedtruth Teller said...

Any new President has very little impact upon the economy for a few months. Trump has been President and influential since about July of 2017. We have enjoyed a strong economy. But wages have not increased to rates higher than inflation.

Some manufacturers are expanding but not every where. Ford is struggling. Their truck and SUV sales are doing well. The sedan market has fallen behind GM and Chrysler, Toyota, etc.

Harley Davidson sales are slim. Trump had called them successful because of his policies. The package is mixed.

Anonymous said...



Blogger Roger Amick said...

Any new President has very little impact upon the economy for a few months.



well alky, i'm old enough to remember the state of the economy when W came into office after bubba the rapist. we were undeniably in recession, and virtually everyone with an opinion blamed bush. then 9/11 happened, the economy worsened, and everyone STILL blamed bush. i'm not saying it wasn't his fault. i'm just looking for something you can't offer - intellectual honesty and consistency.

in other words, what's good for the bush is good for the magic negro.

Coldheartedtruth Teller said...

Scott will say that he was motivated by the fake news unfair attacks on the President.

Coldheartedtruth Teller said...

W inherited a minor recession.

Eight years later he left the negro President the worst economy for 80 years.

You are unable to understand shit

commie said...

house negro too-ray on MSDNC has deduced that trump is definitely not presidential material...

Fixed it for you rectum breath.....

The next excuse will be Soros provided monies to the bombers family to make the D's responsible.....LOL

Funny trump gave credit to the FBI and NYPD for a great job....wonder how long before he is tweeting they are POS?????

commie said...

Sure wonder if Cesar Sayoc was involved with that pelosi BS last week with the cubans???? Be interesting to see those tapes.....

Anonymous said...

Quarter 1 , 2018. 2.2%
Quarter 2 , 2018. 4.2%
Quarter 3 , 2018. 3.5%


Dennis cheering for lower GDP.

C.H. Truth said...

Scott will say that he was motivated by the fake news unfair attacks on the President.

I'll say he was motivated by the same thing (craziness) that motivated the guy who shot Steve Scalise.