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April 27, 2012

Mr. "Cool:" GDP Growth Rate Chills to 2.2%

4th quarter 2011's growth rate was 3.0%.

First quarter 2012 is 2.2%. Unexpectedly.

I can't believe I'm saying this, but when it comes to gangbusters growth and economic activity, Obama peaked too soon.

Watch CNBC spin this to make it sound as if this rate beats expectations:

While that was below economists' expectations for a 2.5 percent pace, a surge in consumer spending took some of the sting from the report. However, growth was still stronger than analysts' predictions early in the quarter for an expansion below 1.5 percent.

So it was below expectations, but really, earlier in the quarter less-accurate predictions were for it to be lower than it turned out to be, so, going by those dated predictions, we're really looking good.

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posted by Ace at 10:51 AM

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