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BTW, this current GDP number got a significant boost as a result of increased exports due to escalating tensions in advance of Trump's idiotic trade policies, particularly in soybeans. |
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I guess you accuse others of lying because it comes so easy to you. And I also note that you can't even acknowledge that the economy growing a more than 4% is good news. |
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Business tax payments plunge, while workers pay more
https://finance.yahoo.com/news/busin...185504363.html https://s.yimg.com/ny/api/res/1.2/Vc...9ee0e8b35b3a6c |
GDP Isn’t Growing Fast Enough for Markets
Stock and bond investors have been expecting more. A little dose of reality for our Trumpkin. Donny lied to you. Face the facts. https://www.bloomberg.com/view/artic...gh-for-markets President Donald Trump promised on Thursday that the second-quarter gross domestic product number would be unthinkable. The number was, instead, what everyone expected, and that could pose a problem. While the 4.1 percent GDP number was the best in four years, it wasn’t the strongest quarterly growth since the recession. And the number appears to be pumped up by a temporary spike in exports ahead of threatened tariffs as well as a jump in government spending. Economists say neither is sustainable. They expect GDP growth to cool to 2.8 percent in the third quarter. Year over year, as opposed to quarter over quarter, GDP was up only 2.8 percent. Go by current estimates, and GDP growth for all of 2018 will come in at 2.9 percent, short of the 3 percent that at least psychologically would suggest some fundamental shift in the economy. |
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https://tradingeconomics.com/united-states/gdp-growth First this: The US economy advanced an annualized 4.1 percent on quarter in the second quarter of 2018, well above an upwardly revised 2.2 percent expansion in the previous period and in line with market expectations. It is the strongest growth rate since the third quarter of 2014 amid higher consumer spending and soybean exports while business spending slowed, the advance estimate showed. So, there were actually two significant drivers: consumer spending and soybean exports. Which driver had the more significant impact on the 4.1% GDP growth number? Personal consumption expenditure (PCE) contributed 2.69 percentage points to growth (0.36 percentage points in the first quarter) and rose 4 percent (0.5 percent in the first quarter). Meanwhile, exports jumped 9.3 percent (3.6 percent in the previous quarter) and imports rose at a much slower pace (0.5 percent compared to 3 percent). As a result, the impact from trade was 1.06 percent, much better than -0.02 percent in the first quarter and the highest contribution since the last three months of 2013. So, the impact of increased consumer spending had more than twice the impact on GDP growth than exports. And, by the way, increasing exports of any commodity is good news. We'll see if that increase is sustained going forward. |
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https://www.marketwatch.com/story/if...ble-2018-07-26 |
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