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Thread: GDP Slows to Crawl in First Quarter, Up 0.1%

  1. #21
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    Re: GDP Slows to Crawl in First Quarter, Up 0.1%

    Quote Originally Posted by Deuce View Post
    Yeah, there's a hangar in Minnesota that was supposed to be finished last October. They're finally making real progress now. My company has been waiting to rent space in it.
    It is killer when big construction products don't go off in time. Last year the season ended early and the season is starting late. That is a lot of money not at work right now.

    Not the only reason, and I am the first to jump on this administration, but weather was terrible for making money this winter.
    We went from sticks and stones may break my bones but words will never hurt me to safe spaces.

  2. #22
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    Re: GDP Slows to Crawl in First Quarter, Up 0.1%

    Quote Originally Posted by iliveonramen View Post
    By "they" I assume you mean the vast majority of economists?
    The vast majority of economists are just desperate to come up with excuses to maintain the fiction of a recovery because they are in some way dependent on people continuing to buy into the blatantly rigged stock market. Everything up to this point has been based on massive and unsustainable injections of cash from the government through bailouts, stimulus, and the Federal Reserve. Had it not been for the temporary uptick in health insurance payments courtesy of Obamacare, the GDP would have contracted. Mind you, that is the annualized figure and it is likely the economy saw a substantial quarterly contraction. One piece of data not getting attention is the massive drop in mortgage applications the previous week. Mortgage applications are at four-year lows and refi applications are at six-year lows. Home sales now are being driven primarily by cash purchases and investors looking to rent properties or flip them. None of that is about the weather as it is an ongoing issue. One effect weather will have is that there will be a significant bounce due to some of the backlog. That will fade and the downward trend will most likely resume.
    "For what is Evil but Good-tortured by its own hunger and thirst?"
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  3. #23
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    Re: GDP Slows to Crawl in First Quarter, Up 0.1%

    No worries. An increase in the minimum wage will fix everything. We all know that those on the minimum wage end of things are the real drivers of the economy.

  4. #24
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    Re: GDP Slows to Crawl in First Quarter, Up 0.1%

    U.S. trade gap narrows, but not enough to help GDP

    U.S. trade gap narrows, but not enough to help GDP | Reuters


    'The U.S. trade deficit narrowed in March as exports rebounded, but the improvement was probably not enough to prevent the government from revising down its estimate of first-quarter growth to show a contraction.'

    The Commerce Department said on Tuesday the trade gap shrank 3.6 percent to $40.4 billion, broadly in line with economists' expectations. When adjusted for inflation, the deficit dipped to $49.4 billion from $49.8 billion in February.

    March's shortfall, however, was a bit bigger than the $38.9 billion that the government had assumed in its advance first-quarter gross domestic product estimate published last week.

    Economists said the data implied about a two-tenths of a percentage point reduction to the first quarter's 0.1 percent annual growth pace. The report came on the heels of March construction spending and factory inventories data that also proved weaker than the government had assumed in its advance GDP report last Wednesday.

    "There is a very high chance that GDP will be revised to show a contraction in the first quarter, possibly in the neighborhood of minus 0.5 percent," said John Ryding, chief economist at RDQ Economics in New York.'


    So...the first quarter was negative growth.

    Oh, that's right, the-dog-ate-my-homework-excuse...the weather did it.


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