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CNN: Trump's Attempts at Forging a North Korean Peace/Denuclearization Pact Are... Officially, Intentionally a "Distraction" from Cohen Testimony | Main | California Professor Who Repeatedly Called for Cops to Be Murdered Is Still Employed So We'll Soon Have All the NeverTrumpers Rousing Themselves to Defend His Right to Free Speech
February 28, 2019

US Economy Grew Faster Than Expected in Fourth Quarter

Unexpectedly.

The GDP figure was two things: It was lower than the last two gangbusters' quarters' numbers, as expected, and it was also higher than it was expected to be. Analysts guessed it would come in 1.4% to 2.4%; it exceeded that and came in at 2.6%.

Most of the media is, predictably, playing this as "economy cools" even though that's not really the news -- that was already known, or rather widely expected, and hence no longer news. The actual news was that the economy didn't cool all that much.


In the fourth-quarter, U.S. gross domestic product grew at an annualized rate of 2.6%, according to the latest data from the Bureau of Economic Analysis.

Thursday's report beat expectations, with consensus economists polled by Bloomberg looking for growth to slow to 2.2% during the final three months of the year. The domestic economy grew at a pace of 3.4% in the third quarter and 4.2% in the second quarter.

Despite the softening in GDP in the fourth quarter, overall growth in 2018 was solid. Real GDP grew at a pace of 3.1% in 2018, measured from the fourth quarter of 2017 to the final quarter of 2018. This represented a stronger pace of annual growth than the 3% targeted by the Trump administration.


Drudge is as usual playing the leftwing fool on this, by the way, with his "3% miss" headline -- well yes, it did in fact miss 3%. Which had been expected for weeks.


digg this
posted by Ace of Spades at 07:41 PM

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