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Yes, and true it is generally revised down later. So in reality the number could be less than 3.2%. Last quarter, the advance estimate was 5.7%, followed by a second estimate of 5.9%, before finally ending up at 5.6%. Two quarters ago it began at 3.5% and ended up at 2.2% in the final estimate.
And in the two quarters prior to that, the advance-to-final progressions were...
You conveniently forgot the the second paragraph of their statement:
"The Bureau emphasized that the first-quarter advance estimate released today is based on source data that are incomplete or subject to further revision by the source agency (see the box on page 3). The "second" estimate for the first quarter, based on more complete data, will be released on May 27, 2010."
Huh? Generally? You mean always, at least for the last 10 years or so the GDP has always been revised downward after the intial estimates were given.
I cannot remember a single quarter when they were ever revised upward.
Quote:
Originally Posted by HappyTexan
4Q2009 was inventory restocking. That should have been a given and was commented on by several posters here but were boo'd off by the koolaid drinkers.
You got that right. It's pointless really, as they just don't understand (or don't want to understand).
Gee. Two up, and two down. As we already saw, in 2009 it was two up, and two down. Do people understand the concept of "usually"???
If so, maybe they've noted that the progression is "usually" up in the 1st and 2nd quarters and are ready now to claim that the 3.2% gain reported today obviously way underestimates what the final Q1 number will actually be. Or maybe they aren't somehow, I'm kind of thinking...
Huh? Generally? You mean always, at least for the last 10 years or so the GDP has always been revised downward after the intial estimates were given. I cannot remember a single quarter when they were ever revised upward.
LOL. Way to know what you're talking about, dude...
Yes, and true it is generally revised down later. So in reality the number could be less than 3.2%. Last quarter, the advance estimate was 5.7%, followed by a second estimate of 5.9%, before finally ending up at 5.6%. Two quarters ago it began at 3.5% and ended up at 2.2% in the final estimate.
Absolutely right. That's how the Administration in power typically makes things look better than they actually are, during bad times. By the time the revised figures are out, it's old news and nobody (particularyly the media) pays any attention.
The economic recovery won't be catching fire any time soon.
The Commerce Department said Friday that the economy grew at an annual rate of 2.7 percent in the first quarter, offering its third and final estimate for the period.
Yes, the 3.2% growth rate was down from the 4th quarter 2009 (as expected), but the important thing is that we are still seeing an increase of growth.
It sure beats the 6.4% decrease we saw during the first quarter of 2009! Some people will find any way to spin good news.
This is the problem with liberals. They excuse every failure of Obama, as they do not care whether the nation does well or not. THey are only concerned about thier "team" and stroking the image of Obama. The nation be damned.
Obama is the biggest fiscal failure in US history and is good for no one- even liberals have to eat.
1. 10% unemployment
2. highest mortgage default rate un US history
3. national debt and annual deficits at highest rates ever
4. manufacturing sector sinking further
5. stock market falling
Gee. I want a prosperous US. Liberals just want a liberal in power and do not care what happens to the US. That is a "small" difference between libs and conservatives.
Wonder how much of that " growth" is real growth as opposed to artificial government infusion of money....
Why can't they let the US economy contract and correct itself? Why do these economists and politicians always have to keep the US "growing"? You can't keep growing forever. Sooner or later you're gonna have to come down, and there's always going to be a limit to growth. Too much growth is a bad thing too
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