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Thread: GDP Contracted at 1% Pace in First Quarter

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    Re: GDP Contracted at 1% Pace in First Quarter

    Quote Originally Posted by justabubba View Post
    and those on the right cheer when the nation's economy appears to have had a hiccup
    meanwhile they ignore the consistent growth of the economy under a democratic president
    cheering against the economy. betting against the country. today's GOP
    Uhm, what persistent growth ?

    GDP would indicate "persistent growth".

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    Re: GDP Contracted at 1% Pace in First Quarter

    Quote Originally Posted by jmotivator View Post
    U.S. GDP Contracted at 1% Pace in First Quarter - WSJ.com

    "he U.S. economy contracted in the first quarter of 2014, the latest stumble for a recovery that has struggled to find its footing since the recession ended almost five years ago."

    The "recovery" is over.
    I could be wrong, but I believe the first quarter results for the US were a GDP of 0.1%, not 1% - a significant difference, and basically flat. It was anticipated that the GDP would be in the 1.5% range for the quarter so the results are terrible.

    That said, weather was indeed a major factor and drag on consumer activity and the shipment of goods. Canada had similar issues, yet our GDP was significantly better, in the 1.2% range.

    I'm curious, although this may not be a factor at all, whether or not the onset of the ACA, the mandate of individual purchase of health insurance coverage and the loss of coverage for many as well as the increased cost in coverage due to mandated minimum coverages for others has had any impact on consumer confidence and/or activity due to a reduction in disposable income.
    "Liberals claim to want to give a hearing to other views, but then are shocked and offended to discover that there are other views." William F. Buckley Jr.

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    Re: GDP Contracted at 1% Pace in First Quarter

    Quote Originally Posted by CalGun View Post
    With an agenda to sell the economy to the sheeples in Nov no less.
    Quote Originally Posted by Redress View Post
    You do realize that GDP numbers come from a government agency too?
    Hopefully one that's actually accountable.
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    Re: GDP Contracted at 1% Pace in First Quarter

    Quote Originally Posted by WCH View Post
    Hopefully one that's actually accountable.
    So you will only accept numbers you like. Got it.
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    Quote Originally Posted by Fiddytree View Post
    Uh oh Megyn...your vagina witchcraft is about ready to be exposed.

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    Re: GDP Contracted at 1% Pace in First Quarter

    Quote Originally Posted by CanadaJohn View Post
    I could be wrong, but I believe the first quarter results for the US were a GDP of 0.1%, not 1% - a significant difference, and basically flat. It was anticipated that the GDP would be in the 1.5% range for the quarter so the results are terrible.
    The +0.1% was the preliminary number. The final number is -1.0%.
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    Re: GDP Contracted at 1% Pace in First Quarter

    Quote Originally Posted by CanadaJohn View Post
    I could be wrong, but I believe the first quarter results for the US were a GDP of 0.1%, not 1% - a significant difference, and basically flat. It was anticipated that the GDP would be in the 1.5% range for the quarter so the results are terrible.

    That said, weather was indeed a major factor and drag on consumer activity and the shipment of goods. Canada had similar issues, yet our GDP was significantly better, in the 1.2% range.

    I'm curious, although this may not be a factor at all, whether or not the onset of the ACA, the mandate of individual purchase of health insurance coverage and the loss of coverage for many as well as the increased cost in coverage due to mandated minimum coverages for others has had any impact on consumer confidence and/or activity due to a reduction in disposable income.
    No, it is an actual contraction of 1 %. Here is the actual document: https://www.bea.gov/newsreleases/nat...highlights.pdf
    We became a great nation not because we are a nation of cynics. We became a great nation because we are a nation of believers - Lindsey Graham

    Quote Originally Posted by Fiddytree View Post
    Uh oh Megyn...your vagina witchcraft is about ready to be exposed.

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    Re: GDP Contracted at 1% Pace in First Quarter

    Quote Originally Posted by Redress View Post
    No, it is an actual contraction of 1 %. Here is the actual document: https://www.bea.gov/newsreleases/nat...highlights.pdf
    You're right - my mistake - I was looking at the advanced estimates released in April that had first quarter US GDP at 0.1% - the actual was down 1.1% leaving it with a contraction of 1%.

    Thanks for pointing that out.
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    Re: GDP Contracted at 1% Pace in First Quarter

    Quote Originally Posted by jmotivator View Post
    The +0.1% was the preliminary number. The final number is -1.0%.
    You're right - thanks.

    Any thoughts on the "why", related to the ACA coming online?
    "Liberals claim to want to give a hearing to other views, but then are shocked and offended to discover that there are other views." William F. Buckley Jr.

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    Re: GDP Contracted at 1% Pace in First Quarter

    Quote Originally Posted by CanadaJohn View Post
    You're right - thanks.

    Any thoughts on the "why", related to the ACA coming online?
    From the document I linked to:

    The decline in real GDP was more than account-
    ed for by a significant decline in inventory in-
    vestment, notably by motor vehicle dealerships.
    In fact, GDP less inventory investment (real final
    sales of domestic product) rose 0.6 percent in the
    first quarter.
    Declines in exports, in business investment, in

    state and local government spending, and in
    housing investment also contributed to the de-
    crease in first-quarter real GDP.
    We became a great nation not because we are a nation of cynics. We became a great nation because we are a nation of believers - Lindsey Graham

    Quote Originally Posted by Fiddytree View Post
    Uh oh Megyn...your vagina witchcraft is about ready to be exposed.

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    Re: GDP Contracted at 1% Pace in First Quarter

    Quote Originally Posted by justabubba View Post
    and those on the right cheer when the nation's economy appears to have had a hiccup
    meanwhile they ignore the consistent growth of the economy under a democratic president
    cheering against the economy. betting against the country. today's GOP

    "hiccup" ... you're funny.
    "consistent growth" ... stop it, you're a scream.

    Was this 5 year period a typical recovery?
    (wait for it)

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