Economy in U.S. Grows More Than Forecast

[RunInRed 16,360]

It's the economy, stupid ...

Economy in U.S. Grows More Than Forecast

Gains in consumer spending and business investment helped the U.S. economy rebound more than forecast in the second quarter following a slump in the prior three months that was smaller than previously estimated.

Gross domestic product rose at a 4 percent annualized rate, the most since the third quarter of 2013, after shrinking 2.1 percent from January through March, Commerce Department figures showed today in Washington. The median forecast of 80 economists surveyed by Bloomberg called for a 3 percent advance. Consumer spending, the biggest part of the economy, rose 2.5 percent, reflecting the biggest gain in purchases of durable goods such as autos in almost five years.

http://www.bloomberg.com/news/2014-07-30/economy-in-u-s-grows-more-than-forecast-after-smaller-drop.html

[RunInRed 16,360]

Additionally ...

Companies added 218,000 workers to payrolls in July, exceeding the average for the year and showing improving demand is bolstering the job market, a private report showed today. The gain this month followed a 281,000 increase in June that was the strongest since November 2012, according to data from the ADP Research Institute in Roseland, New Jersey.

[AUisAll 2]

LOL

[AUTUmike 79]

LOL

Great post.

[AUtiger98 24]

Wall Streets doesn't totally buy this report Linky.

Barclays is a good example: "We do not view the out-performance in this report as a signal that the outlook for growth has improved," they said.

and

My take? Things are continuing to get better, but they are getting better at a very slow rate. And the data is still choppy.

I guess we'll have to wait and see.

[Weegle777 78]

I hope it continues to get better, but the thing is, is that it won't matter unless it gets to be what the economy was under Clinton. Conservatives were willing to overlook alot of what they didn't agree with because money was flowing like crazy. Obama isn't that lucky. It was the same mindset with G.W. Bush, whatever good he did was chunked into the garbage because liberals hated what he stood for. Whatever good Obama does will be thrown out because most conservatives conflict with his views. If the economy was booming under Bush, he wouldn't have been vilified so much.

We are a pretty fickle citizenry.

[cooltigger21 0]

5 years in and we only get just over 2 percent. I will just about guarantee it will end up being less after the usual second look.Just imagine what we could do if Obama would take his foot off the brake.

[Proud Tiger 4,261]

All the credit goes to Bush

Seriously RIR, I'm glad you Dems have a little something positive to crow about. t's been a long time.

[TexasTiger 12,811]

LOL

Great post. :rolleyes:/>

His best yet. The fewer letters the better.

[AURaptor 1,121]

Damn. If only the GOP had obstructed more...

[AUTUmike 79]

5 years in and we only get just over 2 percent. I will just about guarantee it will end up being less after the usual second look.Just imagine what we could do if Obama would take his foot off the brake.

I'll play. How does Obama have his foot on the brake?

[autigeremt 6,569]

We boomin! -2% 1st quarter, +5 second. Just in time for the lead up to real campaign season. Imagine that.

Meanwhile the country spirals deeper and deeper into debt, wars abound, scandals for every occasion, and a president eating ribs to celebrate his accomplishments.

[AUTUmike 79]

We boomin! -2% 1st quarter, +5 second. Just in time for the lead up to real campaign season. Imagine that.

Meanwhile the country spirals deeper and deeper into debt, wars abound, scandals for every occasion, and a president eating ribs to celebrate his accomplishments.

So our rate of economic growth is all a campaign ploy? Come on, man.

[autigeremt 6,569]

We boomin! -2% 1st quarter, +5 second. Just in time for the lead up to real campaign season. Imagine that.

Meanwhile the country spirals deeper and deeper into debt, wars abound, scandals for every occasion, and a president eating ribs to celebrate his accomplishments. ;)/>

So our rate of economic growth is all a campaign ploy? Come on, man.

I'm sure it grew 5%....for somebody. Wall St.? Maybe a couple retired union leaders through their pension? Sorry, but until I see a serious growth in incomes and a decrease in the debt I'll call BS.

[AUTUmike 79]

We boomin! -2% 1st quarter, +5 second. Just in time for the lead up to real campaign season. Imagine that.

Meanwhile the country spirals deeper and deeper into debt, wars abound, scandals for every occasion, and a president eating ribs to celebrate his accomplishments. ;)/>

So our rate of economic growth is all a campaign ploy? Come on, man.

I'm sure it grew 5%....for somebody. Wall St.? Maybe a couple retired union leaders through their pension? Sorry, but until I see a serious growth in incomes and a decrease in the debt I'll call BS.

Well sorry to break it to you, but debt and real income are simply different indicators than GDP growth. So calling the growth numbers BS based on that is incorrect.

[AUisAll 2]

We boomin! -2% 1st quarter, +5 second. Just in time for the lead up to real campaign season. Imagine that.

Meanwhile the country spirals deeper and deeper into debt, wars abound, scandals for every occasion, and a president eating ribs to celebrate his accomplishments.

Yep. Just like the unemployment number miraculously went down months before the 2012 election. Workforce participation has crashed but many Americans have just said 'the heck with it' and given up looking for a job so it's all good in the small minds of the Liberal/Democrats. Plus, the Democrats don't want to talk about the realities of the mess they have created so let's talk Impeachment. Clowns in Charge and clowns still supporting them.

[autigeremt 6,569]

We boomin! -2% 1st quarter, +5 second. Just in time for the lead up to real campaign season. Imagine that.

Meanwhile the country spirals deeper and deeper into debt, wars abound, scandals for every occasion, and a president eating ribs to celebrate his accomplishments. ;)/>

So our rate of economic growth is all a campaign ploy? Come on, man.

I'm sure it grew 5%....for somebody. Wall St.? Maybe a couple retired union leaders through their pension? Sorry, but until I see a serious growth in incomes and a decrease in the debt I'll call BS.

Well sorry to break it to you, but debt and real income are simply different indicators than GDP growth. So calling the growth numbers BS based on that is incorrect.

GDP doesn't always translate to the street, which is what I'm concerned about. The elites can GTH.

[cooltigger21 0]

5 years in and we only get just over 2 percent. I will just about guarantee it will end up being less after the usual second look.Just imagine what we could do if Obama would take his foot off the brake.

I'll play. How does Obama have his foot on the brake?

Wel two things come to mind immediately. The epa rules that are causing job losses in the coal industry. His refusal to open up federal lands and the gulf for drilling keep oil prices higher than they should be. Not building keystone is another paer of that. Obamacare has led to many people either getting their hours cut to below 30 or even laid off. He and Holder are pressuring banks to not give financing to gun and ammunition manufacturers. That is not only economically harmful to a certain segment it shows their dusdain for the 2nd amendment. Letting all these illegals in doesn't come without economic consequences either.

[RunInRed 16,360]

[autigeremt 6,569]

Shame people still defend this turd and his obvious failures.

'm happy for the 6 straight months of so-called 200,000 increase in job growth (never mind the obvious collapse of median household income and the fuzzy math), along with his first quarter gain of significant GDP expansion since winning his first election. Ironic that the mid terms are coming and he's in deep crappola, but hey! It's the new norm.

Party over country. It's the elite mentality.

[Proud Tiger 4,261]

The 200,000 is less than what was predicted.

[cooltigger21 0]

The 200,000 is less than what was predicted.

it isn't even enough to keep up with population growth.

[DKW 86 7,411]

http://www.zerohedge...me-highest-2014

Not raining on the parade, but there are definitely things that need to be looked at a lot closer.

AND there is this midterm election coming up in about 90 days, so this will likely be the last report seen until just before the election.

Fact: 200K is NOT KEEPING UP WITH POPULATION GROWTH.

Fact: The total US Workforce numbers have not recovered to even the PRE-Recession Numbers.

That means that the total number of graduates, high school & college that have entered the workforce since 2008 have almost nowhere to go.

[Proud Tiger 4,261]

Rain won't hurt. It is a blind man's parade.

[Kassc22 0]

This summer President Obama has attended a bumper crop of political fundraisers, now more than 400 since taking office. He claims he wants to work with the House Republicans he mocks as "hatin' on" him. And, of course, Obama boasts of creating new jobs.

In his weekly remarks last Saturday and almost every other week, Obama has declared something like: "Our economy created over 200,000 new jobs in July. That’s on top of about 300,000 new jobs in June." He asserts there would have been even more had it not been for those you-know-who's in the House.

The economy is by far the most important factor controlling Obama's weakening job approval, still underwater at 41%. Approval of his economic job is even worse. So, he grabs at any seemingly positive job news, hoping to mitigate damage in November's midterm elections.

Those new monthly job figures he cites are true, as far as they go.

But as usual with this Chicago pol's declaratory statements, there's much more hidden than revealed.

Obama does not mention that July's unemployment rate ticked up to 6.2%. He does not mention that July's new employment figure was lower than expected. And, of course, he will never recall that this is the fifth straight summer of the 2010 Recovery Summer that turned out to be as invisible as this administration's transparency.

That 2010 summer was when both Obama and Joe "That Three-Letter Word J-O-B-S" Biden promised that their nearly trillion-dollars of stimulus spending -- that vast sum that went straight to enhance the national debt -- would be creating "hundreds of thousands" of new jobs in the very next month. Or the one after that. Or maybe in three months. Surely, in four.

That bunk was what made "Shovel-ready jobs" such an embarrassing laugh line.

Those two recovering senators, Obama and Biden, have danced around the jobs issue better than Fred Astaire and Ginger Rogers ever could.

Here's the pathetic truth about jobs under these guys:

According to the latest figures from their own Department of Labor, since Jan. 20, 2009, that chilly first inauguration day, 11,472,000 Americans have left the workforce.

That's as if every living human being in the state of Ohio was working and then wasn't. Or the entire population of four Chicago's. Or 14 San Francisco's. Or almost 18 Washington, D.C.'s went jobless.

Put another way, ever since Aretha Franklin's huge hat sang-in Obama's era of "Hope & Change," 5,682 Americans were out of a job every single day of every single week -- even the weeks Obama was vacationing. As he will be again later this week for half the month. After again promising to do everything he can to boost the economy.So, around the clock for 2,019 days every hour another 237 additional job-holders stopped earning money they could spend to employ other job-holders.

And they each stopped paying income and Social Security taxes. Not to mention falling behind in pursuit of that dream of middle-class life that the Democrat professes to assist so ardently.

But wait, there's more. The new EPA regulations designed to strangle the coal industry will snuff out an estimated 800,000 additional jobs.

And ObamaCare has yet to take full effect in the workplace. For some strange reason, its authors wrote in requirements perversely discouraging employers from keeping full-time workers, by exempting the need to pay healthcare coverage for anyone working less than 30 hours.

Take this June, for instance. Obama boasts the economy under his administration helped to create "about 300,000 new jobs." (Actually, 288,000.)

OK. Let's look inside those numbers. During that month the United States, in fact, lost 523,000 full-time jobs. They were replaced by 811,000 new jobs.

That might look good, until you realize that only 12,000 of those new jobs -- 1.4% -- were full-time. The other 799,000 "new jobs" -- nearly 99% -- that Obama's claiming credit for were only part-time.

Apparently, in his remarks President Obama can't find time to go into such detail. We're pleased to help him out.

http://news.investors.com/politics-andrew-malcolm/080414-711620-obama-new-jobs-numbers-tell-another-tale.htm?p=2