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US economic growth at
1.7% in second quarter

BBC News [UK], by Staff

Original Article

Posted By:Attercliffe, 7/31/2013 10:45:08 AM

The US economy grew at an annualised pace of 1.7% in the second quarter of the year, the Commerce Department has said. That was a faster pace than expected by economists. It was also up from the growth rate for the first three months of 2013, which was revised lower to 1.1% from 1.8%. A slowdown was widely expected due to the impact of federal spending cuts, but also from the continuing weakness in the global economy. In March, $85bn (£56bn) of public spending was cut as a result of a deal between Democrat and Republican politicians.

Comments:
I´ll wait for the adjusted numbers to come out.

      


Post Reply  

Reply 1 - Posted by: BaseballFan, 7/31/2013 10:48:37 AM     (No. 9451100)

And 1.7% was better than expected by the ´experts´. Flashback: in 1992, when Early Neo Leftists were chanting "It´s the economy, stupid!", GDP growth was 4.3% in the 2nd quarter.
Now 1.7% is "better than expected" and we´re supposed to be in awe of the Fraud at 1600 Pennsylvania?

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Reply 2 - Posted by: NorthernDog, 7/31/2013 10:52:29 AM     (No. 9451107)

And this barely above zero ´growth´ is with the Fed pumping billions into the economy. Take away all the false pump priming and we´re still in a recession.

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Reply 3 - Posted by: Pearson365, 7/31/2013 11:09:37 AM     (No. 9451138)

Phony GDP number allows CNBC to lead press corpse choir in singing " Happy Days are Here Again" as Obama lands in Martha´s Vineyard with Reggie Love. The 1.7% preliminary number will be revised to 1.2% just prior to Labor Day and then 0.9% at the end of September.

At a time when alarm bells should be sounding about 1st Q´s 1.1% we are instead supposed to be overjoyed with the fake 1.7% number released today. Since the Federal Reserve is out of tools and Obama is intent on imposing more taxes, regulations and job killing Obamacare on us, we are in serious trouble.

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Reply 4 - Posted by: Coy860, 7/31/2013 11:12:59 AM     (No. 9451146)

This administration always puts on phony numbers, gets the BANG from the deceptive press then goes back and revises the numbers when no one is paying attention.

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Reply 5 - Posted by: lylacat, 7/31/2013 11:23:43 AM     (No. 9451177)

Does anyone really believe the numbers this administration puts out? Last quarter we had to listen to all the clapping about the 1.8% GDP numbers, WOW. But wait, that number was revised down to 1.1%. So now they proudly announce that the GDP is up to 1.7%, and that is good because it is up from the revised number of 1.1%. Hmmmmm, there seems to be a pattern here. Good grief, let us get real, our economy is not improving, and under 0bama, it will never improve, we just keep adding more people to receive Food Stamps and Welfare, or we give them permanent disability.

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Reply 6 - Posted by: horacer, 7/31/2013 11:25:36 AM     (No. 9451184)

What a joke. A giant surge from the Feds original prediction of 3.0% growth. The last three quarters growth-
Q4 (2012).1%
Q1 (2013) 1.1%
Q2 (2013) 1.7%

Over the last three quarters growth is averaging less than 1.0%. It´s all from funny money. We´re in a recession.


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Reply 7 - Posted by: avikingman, 7/31/2013 11:26:20 AM     (No. 9451186)

Let´s see how this plays out in the Cost of Living .pct at year end.
These experts are laughable.

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Reply 8 - Posted by: Chuzzles, 7/31/2013 11:45:48 AM     (No. 9451229)

Dittos #1.

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Reply 9 - Posted by: yuban, 7/31/2013 11:52:37 AM     (No. 9451251)

You lie!

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Reply 10 - Posted by: formerNYer, 7/31/2013 12:21:58 PM     (No. 9451319)

Even if it is a 1.7% which I doubt.
IT STILL SUCKS!

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Reply 11 - Posted by: udanja99, 7/31/2013 12:48:13 PM     (No. 9451391)

Anybody remember what the number was on January 20, 2009?

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Reply 12 - Posted by: Nevadadad46, 7/31/2013 2:18:24 PM     (No. 9451561)

Hoo Rayyye! 1.7% soon to be revised down to .9---Yay! We´re back in the money!

Here is the news: Only 1.7? This great engine of prosperity? - and that is inflated to "look good"? JeeZus!

Idiots!

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