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| Economy |
| US growth rate revised down to 1.8% |
| 2013-06-27 |
| [BBC.CO.UK] The US economy grew by less than previously estimated in the first quarter of the year, the Commerce Department has said. Gross domestic product - which measures annual economic output - grew at an annualised pace of 1.8%, down from an earlier estimate of a 2.4% rise. Weak business investment, a slowdown in consumer spending and falling exports led to the downward revision. In the final quarter of 2012, the annualised growth rate had been 0.4%. The revised figure surprised analysts, who had expected it to remain unchanged at 2.4%. US stocks rose as analysts said the revised figures could alter the Federal Reserve's intention to slow down its $85bn-a-month bond purchases, which was based on its anticipation that the economy will strengthen. |
| Posted by:Fred |
| #10 Don't worry OS, we'll flip it before it needs paint. |
| Posted by: Shipman 2013-06-27 18:29 |
| #9 Build a solar system? Hell we can't even afford the upkeep on the planet we have, much less building a whole new solar system. |
| Posted by: OldSpook 2013-06-27 17:18 |
| #8 The way they have cooked the books on some many figures, like unemployment/underemployment and the rate of illegal immigration, I assume they cooked this figure too, This time, it benefoits them to scare the Fed into more cheap borrowing for the Administration so the true disaster is pushed down the road again. A huge swath of the population has no savings a another huge chuck has less that six months living expenses banked or liquid. If the govt checks stopped or were cut back becasue of the cost of borrowing, the free fall would be catastrophic. Trouble is, they have taken it so far its a Hobesian Bargain, terrible now, worse later, but if you can just get past 2014...... |
| Posted by: NoMoreBS 2013-06-27 16:53 |
| #7 Way under rate of inflation -- so, negative growth. |
| Posted by: Iblis 2013-06-27 15:08 |
| #6 Build a Solar System, I'm doing it and yes it's expensive, (But doesn't have to be done all at once) |
| Posted by: Redneck Jim 2013-06-27 14:34 |
| #5 So we can afford to raise the price of electricity by taxing the living tar out of coal? |
| Posted by: Bobby 2013-06-27 11:59 |
| #4 Unexpectedly? |
| Posted by: Procopius2k 2013-06-27 08:28 |
| #3 Yup, way too high. We're in a recession, like it or not. |
| Posted by: Redneck Jim 2013-06-27 05:23 |
| #2 And even this number is, probably, a result of selective statistics. |
| Posted by: g(r)omgoru 2013-06-27 03:58 |
| #1 See also BREAKING DEFENSE > BILLIONAIRE TELLS AMERICANS TO PREPARE FOR "FINANCIAL RUIN" | [Money News] BILLIONAIRES DUMPING STOCKS, ECONOMIST KNOWS WHY. and * FREEREPUBLIC > [Zero Hedge] THE LARGEST SINGLE DRIVER OF THE AMERICAN ECONOMY IS ABOUT TO COLLAPSE. * WORLD MILITARY FORUM > INTERNATIONAL FORUM: MICKEY EDWARD: US POLITICAL PARALYSIS ARE INSTITUTIONAL ISSUES, i.e. "systemic". |
| Posted by: JosephMendiola 2013-06-27 01:41 |