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U.S. economy expanded 1.9 percent in fourth quarter, 2016 GDP rises 1.6 percent

anatta

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The U.S. economy expanded 1.9 percent between October and December, government data showed Friday morning, capping off a long period of tepid expansion under the Obama administration.
Growth in the gross domestic product, the total output of goods and services in the country, was just below average growth of 2.1 percent seen since the beginning of 2010.

The reading fell short of expectations of economists surveyed by Bloomberg News, who had forecast 2.2 percent annualized growth in the period.

For the full-year 2016, the economy expanded 1.6 percent, government data showed, down from an increase of 2.6 percent the prior year.

The data was the first reading from the Commerce Department and will be revised twice more in coming months. The economy surged to 3.5 percent growth in the third quarter, driven partly by an unusually large volume of soybean exports.
https://www.washingtonpost.com/news...p-845am:homepage/story&utm_term=.e79b07b0ae78
 
please tell me this isn't the permanent 'new normal'.. can Trump really improve this? or at we stuck on minimal growth -better then contraction -but not exactly a dynamic economy
 
please tell me this isn't the permanent 'new normal'.. can Trump really improve this? or at we stuck on minimal growth -better then contraction -but not exactly a dynamic economy

Factoring in inflation, this number is near flat...

ETA: I would expect growth to top 3% for Trump's four years if he can get his tax policies through Congress...
 
please tell me this isn't the permanent 'new normal'.. can Trump really improve this? or at we stuck on minimal growth -better then contraction -but not exactly a dynamic economy

I'm of the opinion that putting so much credit to the president for the economy isn't realistic. For one thing, even economists can't agree on how economies actually work. For another, fiscal policy hasn't been that effective in the past. Monetary policy has shown to have effects though. Overall, while some big decisions Trump makes will have effects, its the people at the Fed that are going to be more important. Blaming or crediting just the president for the entire economy, especially when they are politicians and not economists, doesn't tell the whole picture.

That said, will the new administration grow the economy more? Well pretty much all the economic policies I've heard are planned to be implemented should grow the economy, but at a costs to our environment (not just global warming), and our foreign relations.
 
please tell me this isn't the permanent 'new normal'.. can Trump really improve this? or at we stuck on minimal growth -better then contraction -but not exactly a dynamic economy

Greetings, annata. :2wave:

Good to see you again! :thumbs:

The period October-December was on Obama's watch, although things did start to pick up in November after the election, IIRC. If Trump is able to renegotiate NAFTA and other agreements, making it a positive thing for companies to stay in the US rather than relocate, and taking a hard look at all the new EPA rules that have gone into effect in the past few years alone that seem to squelch growth, I think we will start to see better times ahead - job-wise at least. Whether people like him or not, Trump deserves the same consideration that we have given other Presidents, and I sure don't recall any being blamed for things before they were even inaugurated, which is both ridiculous and unfair! Sheesh!
 
The U.S. economy expanded 1.9 percent between October and December, government data showed Friday morning, capping off a long period of tepid expansion under the Obama administration.
Growth in the gross domestic product, the total output of goods and services in the country, was just below average growth of 2.1 percent seen since the beginning of 2010.

The reading fell short of expectations of economists surveyed by Bloomberg News, who had forecast 2.2 percent annualized growth in the period.

For the full-year 2016, the economy expanded 1.6 percent, government data showed, down from an increase of 2.6 percent the prior year.

The data was the first reading from the Commerce Department and will be revised twice more in coming months. The economy surged to 3.5 percent growth in the third quarter, driven partly by an unusually large volume of soybean exports.
https://www.washingtonpost.com/news...p-845am:homepage/story&utm_term=.e79b07b0ae78

And please remember, that is with QE still going on (they just do not call it QE anymore), huge deficits and incredibly low interest rates. All this huge stimulus and still the economy grows at a tepid rate. With that much stimulus - it should be flying high (in Krugmanite theory).

Pretty pathetic considering, imo.


And, once again - I am neither dem nor rep.
 
And please remember, that is with QE still going on (they just do not call it QE anymore), huge deficits and incredibly low interest rates. All this huge stimulus and still the economy grows at a tepid rate. With that much stimulus - it should be flying high (in Krugmanite theory).

Pretty pathetic considering, imo.


And, once again - I am neither dem nor rep.

IOWs, you ain't taking credit or criticism for any of it. ;)
 
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