Economy expanded at fastest pace in a year as summer waned

Meathead · Dec 25, 2011

randel said:
Bottom Line - Economy expanded at fastest pace in a year as summer waned

snip

U.S. economic growth increased at its fastest in a year in the third quarter as consumers and businesses set aside fears about the recovery and stepped up spending, creating momentum that could carry into the final three months of the year.
Though part of the increase came from the reversal of temporary factors that had restrained growth, the expansion was a welcome relief for an economy that looked on the brink of recession just weeks ago.

snip

U.S. gross domestic product expanded at a 2.5 percent annual rate in the third quarter, the Commerce Department said in its first estimateon Thursday. That was a big acceleration from the 1.3 percent pace in the April-June quarter and matched economists' expectations.
"The probability of a double-dip has diminished quite a bit," said Sung Won Sohn, an economics professor at California State University in the Channel Islands. He made the comments before the release of the report.

Wow! The fastest pace in a whole year you say!!

It's a bit like being the world's tallest midget!

Dickieboy · Dec 25, 2011

AdamT said:
The numbers get revised up and down. It's certainly predictable that conservatives will only comment on the down side adjustments.

Please, post some evidence that the number got revised up with certainty not 'predictions'.

Dickieboy · Dec 25, 2011

jgarden47 said:
The last thing the Republicans want is any kind of economic recovery until after the 2012 General Election.

Were the parties reversed do you think the Democrats would think differently?

Much of the current problem stems from the EU and a new Republican president, like Obama, is not in a position to resolve that situation.

I agree.

AdamT · Dec 25, 2011

Dickieboy said:
Please, post some evidence that the number got revised up with certainty not 'predictions'.

On my iPhone so that'll have to wait, but. If you follow the economy you should know that it happens all the time. Typically they announce several months of revisions a one time and one or two will be up and one or two down.

Dickieboy · Dec 25, 2011

AdamT said:
On my iPhone so that'll have to wait, but. If you follow the economy you should know that it happens all the time. Typically they announce several months of revisions a one time and one or two will be up and one or two down.

I have been following economic affairs for 40 years so I'll wait. I will stipulate that they DO announce several months various numbers as the OP proves. But I cannot remember a time when they revised it up. There is a strategy to projecting high, tends to promote confidence, then reporting lower numbers once final accounting is performed as most will not notice.

j-mac · Dec 25, 2011

Meathead said:
Wow! The fastest pace in a whole year you say!!

It's a bit like being the world's tallest midget!

When trying to be as utterly dishonest as liberals have been 1/10th of a point can make all the difference, even if they have to change the method of calculation to achieve it.

j-mac