U.S. Economy Grew 4% in Second Quarter

[BumRushDaShow]

Source: NY Times

The United States economy rebounded in the spring after a dismal winter, the Commerce Department reported on Wednesday, growing at an annual rate of 4 percent for the three months from April through June.

In its initial estimate for the second quarter, the government cited gains in personal consumption spending, exports and private inventory investment as the main contributors to growth. The increase exceeded economists’ expectations and further cemented their views that the decrease in America’s overall output during the first quarter was most likely a fluke tied in large part to unusually stormy winter weather as well as other anomalies. Any dip in gross domestic product outside of an official recession is considered rare.

...

During the first quarter, output shrank by 2.1 percent, less than had been reported, according to the Commerce Department’s newly revised G.D.P. figures, also released on Wednesday. The department had previously said first-quarter output decreased 2.9 percent.

...

Economists had been hoping for a full reversal of the first quarter’s decline. The consensus forecast for G.D.P. was 3 percent.


Read more: http://www.nytimes.com/2014/07/31/business/economy/us-economy-grew-4-in-second-quarter.html

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Saw the NYT breaking banner.

[Botany]

1. Jobs and Growth? Well, only one thing to do ...

.... sue the President.

[geretogo]

16. They calculate the growth by the percent increase of fast foods and retail . What else is there .

[Swede Atlanta]

2. What a lie !!!!!

Obama is cooking the books! There is no way with all the "non work" and obstruction we have done over the past 6 years these numbers are real.

Finally in the 1Q2014 the results of our efforts were starting to bear fruit with a contraction in the economy and hopefully more job losses for Americans!!!! So there is no way the economy then grew at 4% in the 2nd quarter. Obama must be manipulating the numbers.

So will go the babble from the right. They will really be mad if the economy is actually growing. Obama cannot succeed!!!

[lunasun]

3. Yes these true patriots want to see America fail just so they can say nah nah told you so!

Obama cannot have success

[Botany]

5. Bingo

If you want to see an example of "those patriots" wanted to see America fail look
@ what they are doing to the highway trust fund.

[lunasun]

7. Hurts all of us I know

Trust funding is an immediate need
Band aids are not the answer
Oh by the way it may create some jobs which they do not want to see happen either
Patridiots rather see this country crumble

[KinMd]

4. If Mitt had won in 2008..

and these economic numbers were the same, all you'd hear from the right would be about the "Romney Miracle"

[n2doc]

9. Hell if he had won in 2012, it would be even worse

All the recession would be Obama's fault, all the recovery would be Mitt's Miracle.

Except I do think Mittens would have screwed things up. He would have gone for another deficit-busting tax cut for the rich, coupled with cuts in the safety net, and privatization. Oh year, probably more war too, in Iraq, Syria and maybe Iran. Things might not have turned out so well.

[Cosmocat]

19. damn straight

Any point since then to now, that absolutely would be what republicans, and by extension the "liberal media" would be championing. It would be the cover of time/newsweek, him smiling and looking all Ken Doll, everyone would be babbling about how great of a economic genius he was.

[IronLionZion]

6. The US economy is working harder than the GOP house

so impeach the President!

[Triana]

8. Expected was 3.2% Thanks Obama! n/t

[candelista]

12. What did President Obama have to do with this?

[sendero]

18. Nothing..

.... but he will take the blame or the credit anyway.

Everyone should remember that the first quarter was up 0.1% until they revised it down 2.9% later.

[Kingofalldems]

21. Obama is an excellent president.

[BumRushDaShow]

10. I decided to dip a toe into the sewer sludge of M$M

and saw this -

"Enjoy this one while you can, because it won't last," Richard Moody, chief economist at Mission Residential in Austin, said in a note to clients about Thursday's data on economic growth.

http://abcnews.go.com/Business/story?id=3544306

A comment by a fly-by-night Red-state-focused residential private equity entity promoted here as some sort of authority. The entire article (supposedly from USA Today) is spun so much that the author could easily be hired as a fracking site driller.

[Robbins]

11. well

This was better than expected.

This Is the obama economy growing more than expected.Congress does nothing because of tea party controlled House.

Hell we have more a Do nothing congress than one Harry truman ran against In 1948.

Just Imagine what could be done If we had a congress or more accuratly a House that would actully do it's job and work with president
instead of saying no to everything and stop being more intrested in suing or impeachment than doing their job for the country.

[candelista]

14. The "Obama economy"?

President Obama does not control the economy. He is not to blame when it crashes, and he is not responsible when it "improves."

[Kingofalldems]

20. That's what republicans say when the economy is going good

If it goes bad it's Obama's fault.

[Blue Idaho]

13. Just Imagine

What that number would look like if we didn't have a bunch of political saboteurs dedicated to stopping every economic initiative proposed over the last six years... Now imagine what America would look like if the focus was on full employment and living wages.

There is much left to be done.

[hughee99]

15. I wonder what it will be revised down to in a few months?

I'm guessing roughly 3%, but still, that's much better than the first quarter.

[whatthehey]

17. 73% of recent data have been revised upward

Including that first quarter blip.