Friday, February 26, 2016

GDP 2010-2015

I don't know about you, but I don't recall such good GDP numbers as shown in the GDP figures below; yet the Dept. Commerce has been pretty consistently saying so (see second figure below):

There were minor downward revisions to consumer spending, which accounts for more than two thirds of U.S. economic activity. Consumer spending rose at a 2.0 percent pace rather than the 2.2 percent rate reported last month.
Unusually mild weather hurt sales of winter apparel in December and undermined demand for heating through the quarter. But there are signs consumption picked up in January with the return to more normal winter temperatures.
With gasoline prices around $2 per gallon, a tightening labor market gradually lifting wages and house prices boosting household wealth, the fundamentals for consumer spending remain very strong.
Business spending on nonresidential structures contracted at a 6.6 percent rate rather than the 5.3 percent pace the government reported last month. Government spending contracted at a 0.1 percent rate instead of rising at a 0.7 percent rate.*




 (
 (Click on figures to enlarge))

* http://www.cnbc.com/2016/02/26/us-q4-2015-revised-gdp.html  (includes first figure)
Second figure reference:
 (http://blogs.wsj.com/economics/2015/04/29/another-year-another-weak-first-quarter-for-gdp-what-gives/?mod=djemRTE_h)

No comments:

Post a Comment