In their first estimate of the second quarter 2012 GDP, the Bureau of Economic Analysis (BEA) found that the annualized rate of U.S. domestic economic growth was 1.54%, down nearly a half percent from the (revised) 1.97% for the prior quarter and down over two and a half percent from the (revised) 4.10% growth rate [...]
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It seems like we’re having great news today about consumer spending, at least if you read the articles coming from the Journal and Bloomberg. They don’t let you forget that consumer spending is 70% of the economy. They seem to ignore some of the basics of economics. If, according to them and their economist prognosticators, all we [...] The revised real GDP numbers for Q4 2010 were a disappointment for most economists who foresaw the third and fourth quarters to be much higher. The BEA’s advance report last month said GDP was up 3.2%. The new numbers show it was only up 2.8%. As I anticipated in my article on the advance report, I [...] |
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