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Thread: GDP Contracted at 1% Pace in First Quarter

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    GDP Contracted at 1% Pace in First Quarter

    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.
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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.
    Subsequent data indicate that the dip was likely temporary and not the end of the recovery. For example, from the April 2014 Beige Book:

    Reports from the twelve Federal Reserve Districts suggest economic activity increased in most regions of the country since the previous report. The expansion was characterized as modest or moderate by the Boston, Philadelphia, Richmond, Atlanta, Minneapolis, Kansas City, Dallas, and San Francisco Districts. Chicago reported that economic growth had picked up, and New York and Philadelphia indicated that business activity had rebounded from weather-related slowdowns earlier in the year. The Cleveland and St. Louis Districts both reported a decline in economic activity.

    http://www.federalreserve.gov/moneta...k_20140416.pdf

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    Re: GDP Contracted at 1% Pace in First Quarter

    Quote Originally Posted by donsutherland1 View Post
    Subsequent data indicate that the dip was likely temporary and not the end of the recovery. For example, from the April 2014 Beige Book:

    Reports from the twelve Federal Reserve Districts suggest economic activity increased in most regions of the country since the previous report. The expansion was characterized as modest or moderate by the Boston, Philadelphia, Richmond, Atlanta, Minneapolis, Kansas City, Dallas, and San Francisco Districts. Chicago reported that economic growth had picked up, and New York and Philadelphia indicated that business activity had rebounded from weather-related slowdowns earlier in the year. The Cleveland and St. Louis Districts both reported a decline in economic activity.

    http://www.federalreserve.gov/moneta...k_20140416.pdf
    As seen and managed by a quasi-governmental entity.
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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.
    it was the weather!! lol..........
    Go Vols

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    Re: GDP Contracted at 1% Pace in First Quarter

    Quote Originally Posted by WCH View Post
    As seen and managed by a quasi-governmental entity.
    The Fed's Beige Book is one report. Numerous reports including but not limited to durable goods orders, the PMI Manufacturing Index, and the Empire State Manufacturing Survey pointed to a noticeable pickup from Q1.

    Also, assuming some degree of pent up demand on account of weather-related issues, a real annualized growth rate of 3% or above looks good for Q2 (first report to be released on July 30). There is some possibility of a figure near 4%. Odds of a figure below 2% are probably fairly low.
    Last edited by donsutherland1; 05-29-14 at 10:33 AM.

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    Re: GDP Contracted at 1% Pace in First Quarter

    Quote Originally Posted by jmotivator View Post
    The "recovery" is over.
    Why, because one indicator -- and one that is rather incomplete -- was down a bit?

    Businesses seem to think that things are looking up. Stocks went up this morning (DJI up 33 pts right now, SPX up 5), and several other indicators are looking fine.


    "A pickup in receipts at retailers, stronger manufacturing and faster job growth indicate the first-quarter setback will prove temporary as pent-up demand is unleashed. Federal Reserve policy makers said at their April meeting that the economy has strengthened after adverse weather took its toll.

    " “The next couple of quarters are going to be a lot stronger,” said Philip Orlando, the New York-based chief equity-market strategist at Federated Investors Inc., said by phone. He helps oversee around $400 billion. “The market ought to be able to read through this and begin to price in better economic growth.”

    "Fewer Americans than forecast filed applications for unemployment benefits last week, a sign the labor market continues to strengthen. Jobless claims fell by 27,000 to 300,000 in the week ended May 24, a Labor Department report showed. The median forecast of 50 economists surveyed by Bloomberg called for 318,000.

    "Separate data will probably show that pending home sales rose 1 percent in April, economists estimated before the report due at 10 a.m. They rose 3.4 percent the prior month."

    U.S. Stocks Rise After GDP Data, Tyson Bid for Hillshire - Bloomberg

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    Re: GDP Contracted at 1% Pace in First Quarter

    Quote Originally Posted by Visbek View Post
    Why, because one indicator -- and one that is rather incomplete -- was down a bit?

    Businesses seem to think that things are looking up. Stocks went up this morning (DJI up 33 pts right now, SPX up 5), and several other indicators are looking fine.
    Stock are a terrible measure of the health of the economy. As a wise man once said "Stock always go up, until they go down."


    "A pickup in receipts at retailers, stronger manufacturing and faster job growth indicate the first-quarter setback will prove temporary as pent-up demand is unleashed. Federal Reserve policy makers said at their April meeting that the economy has strengthened after adverse weather took its toll.

    " “The next couple of quarters are going to be a lot stronger,” said Philip Orlando, the New York-based chief equity-market strategist at Federated Investors Inc., said by phone. He helps oversee around $400 billion. “The market ought to be able to read through this and begin to price in better economic growth.”

    "Fewer Americans than forecast filed applications for unemployment benefits last week, a sign the labor market continues to strengthen. Jobless claims fell by 27,000 to 300,000 in the week ended May 24, a Labor Department report showed. The median forecast of 50 economists surveyed by Bloomberg called for 318,000.

    "Separate data will probably show that pending home sales rose 1 percent in April, economists estimated before the report due at 10 a.m. They rose 3.4 percent the prior month."

    U.S. Stocks Rise After GDP Data, Tyson Bid for Hillshire - Bloomberg

    I always have to shake my head at the cycle in Economic reporting. In the wake of the 2007 recession the American people wanted to string up all the economists and and market gurus who were bullish leading up to the collapse. Then, at the bottom of the collapse the same people who wanted to string these eternal optimists up by their feet start using their rosey outlook to convince themselves that everything will be all right.

    We haven't fixed anything that was wrong with the 2007 economy. In fact, the only improvement over 2007 is that companies are now stockpiling more cash to weather economic lows and this administration is hell bent on taking that stockpile under the pretense of economic equality.
    Give a man a fish and he eats for a day. Teach a man to fish and he stops voting for the Free Fish party.

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    Re: GDP Contracted at 1% Pace in First Quarter

    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
    we are negotiating about dividing a pizza and in the meantime israel is eating it
    once you're over the hill you begin to pick up speed

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    Re: GDP Contracted at 1% Pace in First Quarter

    Quote Originally Posted by donsutherland1 View Post
    Subsequent data indicate that the dip was likely temporary and not the end of the recovery. For example, from the April 2014 Beige Book:

    Reports from the twelve Federal Reserve Districts suggest economic activity increased in most regions of the country since the previous report. The expansion was characterized as modest or moderate by the Boston, Philadelphia, Richmond, Atlanta, Minneapolis, Kansas City, Dallas, and San Francisco Districts. Chicago reported that economic growth had picked up, and New York and Philadelphia indicated that business activity had rebounded from weather-related slowdowns earlier in the year. The Cleveland and St. Louis Districts both reported a decline in economic activity.

    http://www.federalreserve.gov/moneta...k_20140416.pdf
    They have to say that. Its the Federal Reserve. Gotta keep up the illusion of recovery at all costs. People really do drink the kool-aid. The one redeeming sector for GDP was healthcare.

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    Re: GDP Contracted at 1% Pace in First Quarter

    With an agenda to sell the economy to the sheeples in Nov no less.


    Quote Originally Posted by WCH View Post
    As seen and managed by a quasi-governmental entity.

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