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GDP increases 4.1 percent Q2 2018

jonny5

jonny5

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Stronger growth for the year and since the tax cuts passed 6 months ago, but we'll see if it lasts. Coupled with increased tax revenue, this should help reduce the amount of borrowing needed if congress and President could control there spending. Which of course they cant.

Real gross domestic product increased at an annual rate of 4.1 percent in the second quarter of 2018
(table 1), according to the "advance" estimate released by the Bureau of Economic Analysis. In the first
quarter, real GDP increased 2.2 percent (revised).

The increase in real GDP in the second quarter reflected positive contributions from personal
consumption expenditures (PCE), exports, nonresidential fixed investment, federal government
spending, and state and local government spending that were partly offset by negative contributions
from private inventory investment and residential fixed investment. Imports, which are a subtraction in
the calculation of GDP, increased (table 2).

https://www.bea.gov/newsreleases/national/gdp/gdpnewsrelease.htm
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Imports dont seem to be slowing either. So, economy is maybe booming, and govt as usual is doing all it can to waste it.
 
There are still some elements of the economy that still need help, but this is certainly great news.

It is interesting to note that since 2015, there has been 6 quarters that had GDP growth less than 2%. That' means 43% of the GDP reports were half of this morning's GDP announcement. However, the last time GDP was below 2% was the first quarter of 2017. While many will attempt to argue that this is just a result of the economic policies of the previous administration, the data suggests otherwise.
 
jonny5 said:
Stronger growth for the year and since the tax cuts passed 6 months ago, but we'll see if it lasts. Coupled with increased tax revenue, this should help reduce the amount of borrowing needed if congress and President could control there spending. Which of course they cant. Imports dont seem to be slowing either. So, economy is maybe booming, and govt as usual is doing all it can to waste it.
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How much of that 4.1% is attributed to the scrambling to get exports out before the tariffs take effect?
 
StillServing said:
There are still some elements of the economy that still need help, but this is certainly great news.

It is interesting to note that since 2015, there has been 6 quarters that had GDP growth less than 2%. That' means 43% of the GDP reports were half of this morning's GDP announcement. However, the last time GDP was below 2% was the first quarter of 2017. While many will attempt to argue that this is just a result of the economic policies of the previous administration, the data suggests otherwise.
Click to expand...

GDP was also at 2.0% in Q1 2018.
 
StillServing said:
There are still some elements of the economy that still need help, but this is certainly great news.

It is interesting to note that since 2015, there has been 6 quarters that had GDP growth less than 2%. That' means 43% of the GDP reports were half of this morning's GDP announcement. However, the last time GDP was below 2% was the first quarter of 2017. While many will attempt to argue that this is just a result of the economic policies of the previous administration, the data suggests otherwise.
Click to expand...

Thank goodness for One Hundred Thirty-Eight percent federal spending.
 
The Derp said:
How much of that 4.1% is attributed to the scrambling to get exports out before the tariffs take effect?
Click to expand...

The very heavy over the road trucking on interstate traffic I’m seeing right now speaks to your comment, especially with all the newbie truckers on the weekend.

The loss of PERMANENT commodity markets will kick in next year. The drop in commodity prices across the board by 20% is killing my farmers-in-law.

Corporates are already cutting back on Christmas. Farm Implement orders are crashing. Every last cost for us on the farm is soaring.
 
Linc said:
The very heavy over the road trucking on interstate traffic I’m seeing right now speaks to your comment, especially with all the newbie truckers on the weekend.

The loss of PERMANENT commodity markets will kick in next year. The drop in commodity prices across the board by 20% is killing my farmers-in-law.

Corporates are already cutting back on Christmas. Farm Implement orders are crashing. Every last cost for us on the farm is soaring.
Click to expand...

Q3 growth is going to be disastrous.
 
The Derp said:
Q3 growth is going to be disastrous.
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Reticent to like that because it hurts. We should have a great harvest this year. The Charolais bulls had a great calving season. Diversification is the key, imho, across the economy.

From everything I’ve learned this year deeply involved with my farm family people, it’s all about profit margins. I’m looking at a farmer owned ammonia plant for multiple breaks on margin as one of many examples.

A 21st Century Eisenhower Infrastructure is at the center of our wheel of fortune.
 
Meanwhile, GDP clocked in at +4.1% for the quarter. That's a number Obama exceeded 4 times. But it is the best since Obama ran a +5.2% in q3 of 2014.

Consider the massive stimulus from historic tax cuts and THAT'S IT?

Lmao.

Obama > Trump.
 
StillServing said:
There are still some elements of the economy that still need help, but this is certainly great news.

It is interesting to note that since 2015, there has been 6 quarters that had GDP growth less than 2%. That' means 43% of the GDP reports were half of this morning's GDP announcement. However, the last time GDP was below 2% was the first quarter of 2017. While many will attempt to argue that this is just a result of the economic policies of the previous administration, the data suggests otherwise.
Click to expand...

Certainly this is only one quarter and we'll have to wait and see what happens over a longer term. Theres been quite a lot of policy changes so its hard to pin anything down. However, the trend since Q2 2015 has been up so it appears we are on a upswing. I only hope govt doesnt hurt it with runaway deficits.
 
If we can get a proper fiscal policy in place, we might be able to avoid the kind of problems that plagued us with Reaganomics.
 
Born Free said:
And you thought Hillary was going to win.
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Growth in Q2 was inflated by 33% because of rushing to get exports out before the tariffs took effect.

That means exports are going to drop precipitously in Q3.

We already have several hedge funds and investment firms recording lower than expected Q2 profits and even losses in same cases (like Wells Fargo).

And Clinton won the popular vote by 3,000,000
 
Howard the Duck said:
Meanwhile, GDP clocked in at +4.1% for the quarter. That's a number Obama exceeded 4 times. But it is the best since Obama ran a +5.2% in q3 of 2014...]
Click to expand...
Of course, how could I forget?

The fourth quarter of 2009 we saw 4.5% growth…preceded and then followed by quarters of 1.5% growth.

In 2011, the fourth quarter saw 4.7% growth that capped off an annual GDP increase average of 1.65% as two of the preceding quarters that year had negative growth.

In 2014, there were two quarters that had good growth. The 2nd Quarter and 3rd Quarter saw 5.1% and 4.9% growth. Of course, the first quarter saw the economy shrink by 1% and the 4th quarter once again slipped below 2% growth.

The truth is that in 8 years at the helm, the previous administration NEVER had three consecutive quarters of GDP growth above 2.0%. That’s 32 quarters to get 3 consecutive quarters at 2.1% or better and it never happened.

Yet every quarter since 2017 2nd Quarter has seen GDP above this mark. In fact, 2016 averaged but 1.86% growth. This is the economy that was inherited by the current administration. Starting with the 2nd Quarter 2017, the economy has now averaged a growth rate of 2.88%--over a percentage point higher than the last administration.

Now, 2.88% GDP growth is far from being good enough. But, it certainly is better than what we suffered the previous 8 years.
 
Howard the Duck said:
Meanwhile, GDP clocked in at +4.1% for the quarter. That's a number Obama exceeded 4 times. But it is the best since Obama ran a +5.2% in q3 of 2014.

Consider the massive stimulus from historic tax cuts and THAT'S IT?

Lmao.

Obama > Trump.
Click to expand...

After Obama doubled the national debt by 10 Trillion in just 8 yrs you would expect we would have gotten a bigger bang for our buck. Instead we got the worst recovery under Obama in US History.
 
Born Free said:
After Obama doubled the national debt by 10 Trillion in just 8 yrs you would expect we would have gotten a bigger bang for our buck. Instead we got the worst recovery under Obama in US History.
Click to expand...

No one believes your debt concerns are genuine.

And he had to pay for all your garbage; The Bush Tax Cuts, War on Terror, Medicare Part-D, and recovering the economy from the collapse caused by your deregulation and lowering of lending standards beginning in 2004.

The recovery could have been better if Conservatives had not forfeit their duties to govern and put party before country. So I'm not sure why you're harping about the recovery from your economic collapse when all you did was obstruct Obama because his election invalidated all the Bush policies you supported for 8 years.

You thought stapling a bunch of teabags to your face will make everyone forget y'all were Bush voters and supported all his policies.

#BurnTheLifeboats
 
The Derp said:
Growth in Q2 was inflated by 33% because of rushing to get exports out before the tariffs took effect.

That means exports are going to drop precipitously in Q3.

We already have several hedge funds and investment firms recording lower than expected Q2 profits and even losses in same cases (like Wells Fargo).

And Clinton won the popular vote by 3,000,000
Click to expand...

Your one of those that just can't get over Hillary lost, she lost don't you get it. She's not the president, Trump is.
 
Born Free said:
Your one of those that just can't get over Hillary lost, she lost don't you get it. She's not the president, Trump is.
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What I can't get over is that Trump solicited help from Russia.
 
StillServing said:
Of course, how could I forget?

The fourth quarter of 2009 we saw 4.5% growth…preceded and then followed by quarters of 1.5% growth.

In 2011, the fourth quarter saw 4.7% growth that capped off an annual GDP increase average of 1.65% as two of the preceding quarters that year had negative growth.

In 2014, there were two quarters that had good growth. The 2nd Quarter and 3rd Quarter saw 5.1% and 4.9% growth. Of course, the first quarter saw the economy shrink by 1% and the 4th quarter once again slipped below 2% growth.

The truth is that in 8 years at the helm, the previous administration NEVER had three consecutive quarters of GDP growth above 2.0%. That’s 32 quarters to get 3 consecutive quarters at 2.1% or better and it never happened.

Yet every quarter since 2017 2nd Quarter has seen GDP above this mark. In fact, 2016 averaged but 1.86% growth. This is the economy that was inherited by the current administration. Starting with the 2nd Quarter 2017, the economy has now averaged a growth rate of 2.88%--over a percentage point higher than the last administration.

Now, 2.88% GDP growth is far from being good enough. But, it certainly is better than what we suffered the previous 8 years.
Click to expand...

You guys always have a story. Seldom is it a good one.

Nice try.
 
The Derp said:
No one believes your debt concerns are genuine.

And he had to pay for all your garbage; The Bush Tax Cuts, War on Terror, Medicare Part-D, and recovering the economy from the collapse caused by your deregulation and lowering of lending standards beginning in 2004.

The recovery could have been better if Conservatives had not forfeit their duties to govern and put party before country. So I'm not sure why you're harping about the recovery from your economic collapse when all you did was obstruct Obama because his election invalidated all the Bush policies you supported for 8 years.

You thought stapling a bunch of teabags to your face will make everyone forget y'all were Bush voters and supported all his policies.

#BurnTheLifeboats
Click to expand...

You're just like your beloved Hillary, you have an excuse for everything.
 
Born Free said:
After Obama doubled the national debt by 10 Trillion in just 8 yrs you would expect we would have gotten a bigger bang for our buck. Instead we got the worst recovery under Obama in US History.
Click to expand...

Reagan almost tripled the national debt. Bush almost tripled the national debt.

Budgets are always more responsible under Democrats.
 
The Derp said:
What I can't get over is that Trump solicited help from Russia.
Click to expand...

That's the other thing, Russia, Russia, Russia, yet the real Russia story is your Hillary paid for a phony Dossier that the information was created by Russians that was used by the the FBI who was in her pocket to get a FISA warrant to spy on Trump's campaign.
 
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