CTH: The final quantification of the Bureau of Economic Analysis fourth quarter GDP growth rate was released today, reflecting an anticipated increase from the prior two estimations. The last revised estimation of GDP growth (February) was +2.5%, the final revised estimate is +2.9% growth.
A massive increase in consumer spending (+4%) around the October through December 31st time-frame (Q4) was offset by those dollars purchasing a large portion of imported products. The GDP growth deduction from import purchases was 1.99%. [See table #2, line 50 pdf here]
In short, American consumers spent significantly more than usual in the holiday season; however, many of those purchases were foreign goods. MORE
After hearing “revised downward” for eight years, this is great news.
Oh, wait…I never actually heard “revised downward” during Barky’s regime. Because they always hid the downward revisions.
Thats so weird, every economic estimate since DJT came to office has had to be revised up, while every economic estimate made when 0bol0 was in office had to be revised down.
Almost like the independent economists are part of the deep state……naaaaa, cant be.
All of yous Never Trumpers and haters, please send me your raise!
I wouldn’t want you burdened by success!
lol,Frank, GMTA
B-b-b-b-b-b-b-b-b-b-but… RUSSIA!? HO’ DANIELS!? HOGG HITLER!?
🙄
@frank
first thought that popped into my head too.
obama was always going down.
If only we could have Obumbler back or if only Hellery could have won the election!
SAID NO ONE HERE!
Where’s the UNEXPECTED part of the story?