Open Thread | Main | Leak: Hastert Made Secret Payments to Pay Off Male Victim of Sexual Abuse
May 29, 2015

Economy Contracted by 0.75% In the First Quarter

This must be due to the lingering effects of the Bush economy, now six and a half years in the past.

No wait, this must be due to the 2013 Republican Government Shutdown.

May 29, 2015 - BEA Reveals that 1st Quarter 2015 GDP Shrank at -0.75%:

In their second estimate of the US GDP for the first quarter of 2015, the Bureau of Economic Analysis (BEA) reported that the economy was contracting at a -0.75% annualized rate, down a full percent from the +0.25% estimated last month, and down sharply (-2.97%) from the +2.22% growth rate recorded for the prior quarter. And according to the "real final sales of domestic product" (BEA's very own "bottom line" for the economy), the economy shrank at more than a percent (-1.08%) during the quarter, down -3.40% from last quarter's +2.32%.

A look at the details provides little comfort....

The markets fell on the news, as well as some other bad economic news:

OTHER BAD DATA: Investors also had two other disappointing pieces of economic news to work through. A Chicago manufacturing survey fell to a reading of 46.2, well below the reading of 53 that economists were hoping for. Also a report on consumer sentiment for May fell to a six-month low.

This sounds like a perfect time for Obama to Pivot to Foreign Policy or whatever.

One more negative quarter and we're officially in recession.

Added [JohnE.]:



digg this
posted by Ace at 01:01 PM

| Access Comments




Recent Comments
Farmer: "Is there anything lately from Mike Hammer? He had ..."

My Life is Insanity: "Yikes, Farmer! Mom also has that. She has warm wa ..."

SMH while awaiting His return: "lol Farmer. You lucked out. ..."

JT: "OK, I just realized what that left open for the Ho ..."

Farmer: "I would think that warmth would soften up any obst ..."

SMH while awaiting His return: "I napped earlier. Plus, I'm doing some reading ..."

JT: "Hiya SMH ! How come you're up ? ..."

JT: "Guess Pixy dozed off ...... ..."

SMH while awaiting His return: "Hey JT. ..."

JT: "Muldoon would know.... Google it ? ..."

SMH while awaiting His return: "Farmer! Can't say that I'm familiar with it, an ..."

JT: "The photoshop King was very funny ! ..."

Recent Entries
Search


Polls! Polls! Polls!
Frequently Asked Questions
The (Almost) Complete Paul Anka Integrity Kick
Top Top Tens
Greatest Hitjobs

The Ace of Spades HQ Sex-for-Money Skankathon
A D&D Guide to the Democratic Candidates
Margaret Cho: Just Not Funny
More Margaret Cho Abuse
Margaret Cho: Still Not Funny
Iraqi Prisoner Claims He Was Raped... By Woman
Wonkette Announces "Morning Zoo" Format
John Kerry's "Plan" Causes Surrender of Moqtada al-Sadr's Militia
World Muslim Leaders Apologize for Nick Berg's Beheading
Michael Moore Goes on Lunchtime Manhattan Death-Spree
Milestone: Oliver Willis Posts 400th "Fake News Article" Referencing Britney Spears
Liberal Economists Rue a "New Decade of Greed"
Artificial Insouciance: Maureen Dowd's Word Processor Revolts Against Her Numbing Imbecility
Intelligence Officials Eye Blogs for Tips
They Done Found Us Out, Cletus: Intrepid Internet Detective Figures Out Our Master Plan
Shock: Josh Marshall Almost Mentions Sarin Discovery in Iraq
Leather-Clad Biker Freaks Terrorize Australian Town
When Clinton Was President, Torture Was Cool
What Wonkette Means When She Explains What Tina Brown Means
Wonkette's Stand-Up Act
Wankette HQ Gay-Rumors Du Jour
Here's What's Bugging Me: Goose and Slider
My Own Micah Wright Style Confession of Dishonesty
Outraged "Conservatives" React to the FMA
An On-Line Impression of Dennis Miller Having Sex with a Kodiak Bear
The Story the Rightwing Media Refuses to Report!
Our Lunch with David "Glengarry Glen Ross" Mamet
The House of Love: Paul Krugman
A Michael Moore Mystery (TM)
The Dowd-O-Matic!
Liberal Consistency and Other Myths
Kepler's Laws of Liberal Media Bias
John Kerry-- The Splunge! Candidate
"Divisive" Politics & "Attacks on Patriotism" (very long)
The Donkey ("The Raven" parody)
Powered by
Movable Type 2.64