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Adversity temporarily visits a strong man but stays with the weak for a lifetime. -
Re: The Shining City Upon a Hill
Hours After Fetterman Crashes and Burns In Debate - Campaign Blames Closed Captioning Company But Nexstar Sets the Record Straight
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Re: The Shining City Upon a Hill
Biden Goes Full Monarch, Erupts on Governors Who Dare to Oppose His Plan
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Re: The Shining City Upon a Hill
U.S. GDP accelerated at 2.6% pace in Q3, better than expected as growth turns positive
- Gross domestic product rose 2.6% in the third quarter versus the estimate of 2.3%.
- A narrowing trade deficit and increases in consumer spending and government outlays boosted the number.
- A sharp pullback in housing subtracted from the number, part of a broader decline in private investment.
- Consumer spending decelerated, increasing at just a 1.4% pace in the quarter, down from 2% in Q2.
The U.S. economy posted its first period of positive growth for 2022 in the third quarter, at least temporarily easing recession fears, the Bureau of Economic Analysis reported Thursday.
GDP, a sum of all the goods and services produced from July through September, increased at a 2.6% annualized pace for the period, according to the advance estimate. That was above against the Dow Jones forecast for 2.3%.
That reading follows consecutive negative quarters to start the year, meeting a commonly accepted definition of recession, though the National Bureau of Economic Research is generally considered the arbiter of downturns and expansions.
The growth came in large part due to a narrowing trade deficit, which economists expected and consider to be a one-off occurrence that won’t be repeated in future quarters.
GDP gains also came from increases in consumer spending, nonresidential fixed investment and government spending. The report reflected an ongoing shift to services spending over goods, with spending on the former increasing 2.8% while goods spending dropped 1.2%.
Declines in residential fixed investment and private inventories offset the gains, the BEA said.
“Overall, while the 2.6% rebound in the third quarter more than reversed the decline in the first half of the year, we don’t expect this strength to be sustained,” wrote Paul Ashworth, chief North America economist at Capital Economics. “Exports will soon fade and domestic demand is getting crushed under the weight of higher interest rates. We expect the economy to enter a mild recession in the first half of next year.”
There was some good news on the inflation front.
The chain-weighted price index, a cost-of-living measure that adjusts for consumer behavior, rose 4.1% for the quarter, well below the Dow Jones estimate for a 5.3% gain, due in large part to falling energy prices. Also, the personal consumption expenditures price index, a key inflation measure for the Federal Reserve, increased 4.2%, down sharply from 7.3% in the prior quarter. Core prices, excluding food and energy, increased 4.5%, about in line with Wall Street expectations.Comment
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Re: The Shining City Upon a Hill
Liberal Supreme Court Justice Blocks Jan. 6 Committee
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Re: The Shining City Upon a Hill
Now that the radical left wing is in control of the democrat party, people don't like it. The end of the democrat party as we know it could be over. Sooner than you think.
Those are historical numbers that should continue to grow. Without these minority votes, democrats are in big trouble. Read wave coming.Adversity temporarily visits a strong man but stays with the weak for a lifetime.Comment
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Re: The Shining City Upon a Hill
Racist AH.
Biden Thinks Black People Can't Fit in Cheap Airline Seats or Can't Afford Better Ones
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Adversity temporarily visits a strong man but stays with the weak for a lifetime.Comment
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Re: The Shining City Upon a Hill
Filed court docs show tens of thousands of migrants cases simply 'thrown out' | Sara A. Carter
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Re: The Shining City Upon a Hill
Biden also went after Republican plans that he argued would strip away some cost-lowering programs he's enacted while rewarding the rich with new tax cuts.
"Republicans always used to have platforms," Biden said. "Well, I can't tell you what they're for. But they'll make sure to tell you what they're against."
"Then they're coming after Social Security," Biden added. "They're going to shut down the government, refuse to pay America's bills for the first time in American history to put America in default ... unless we yield to their demands to cut Social Security and Medicare."
"Nothing will create more chaos or do more damage to the American economy ... than if it were to happen," Biden said.Comment
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Re: The Shining City Upon a Hill
JPMorgan CEO Reveals Much Bigger Worry Than Recession - Truth PressComment
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Re: The Shining City Upon a Hill
Liar
Lies: Dems Blamed HQ Break-In on Kari Lake, But We Just Found Alleged Crook's Facebook Page
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