Q2 Gdp Slashed To 1.3%

Discussion in 'Politics' started by wildchild, Sep 27, 2012.

  1. wildchild


    Obama's policies on display. Probably not going to get much play on NBC,ABC, or CBS.

    There are actually people who want 4 more years of this.


    The third reading on Q2 GDP just came out and the report was ugly.

    The headline growth number was revised down to 1.3 percent on an annualized basis.

    Economists expected the number to be unchanged at 1.7 percent.

    "As we recently noted, you'll need to watch the rear-view mirror to see the recession come into focus," wrote ECRI's Lakshman Achuthan in an email to Business Insider.

    "The "third" estimate of the second-quarter percent change in real GDP is 0.4 percentage point, or $16.0 billion, less than the "second" estimate issued last month, primarily reflecting downward revisions to private inventory investment, to personal consumption expenditures, and to exports," wrote the Bureau of Economic Analysis.

    The personal consumption component was revised down to 1.5 percent. Economists were expecting it to be unchanged at 1.7 percent.
  2. Tsing Tao

    Tsing Tao

    If you read the white house official statement, it's all about the previous administration being to blame.
  3. pspr


    Not only that but Durable Goods orders were down 13.2% for August. That's the worst since King Obama took over.
  4. wildchild


    Hey leftists. Your leader's report card is in. It doesn't look good.
  5. Lucrum


    They don't care about performance or results. Affirmative action doesn't work like that.
  6. pspr


    Besides, they have a printing press over at the Fed. If they run out of rich people to tax they'll just crank the press up and print more money to cover the AA benefit payments. They might as well vote Obama. Their covered no matter what.
  7. Yannis


    This disgusting practice has become standard in the Obama administration: reports are routinely issued skewed to better and then corrected a few weeks or months later... but who cares at that point, it's old news, right? :(
  8. wildchild


    From now on you can expect the reports to be overly positive and then they will be revised down on the day after election day.