The increase in real GDP in the second quarter primarily reflected positive contributions from nonresidential fixed investment, exports, personal consumption expenditures, private inventory investment, federal government spending, and residential fixed investment. Imports, which are a subtraction in the calculation of GDP, increased.
The deceleration in real GDP in the second quarter primarily reflected an acceleration in import and a deceleration in private inventory investment that were partly offset by an upturn in residential fixed investment, an acceleration in nonresidential fixed investment, an upturn in state and local government spending, and an acceleration in federal government spending.
Here's a chart of the last four quarters of GDP:
Notice this is the fourth quarter where the US economy has had positive quarter to quarter growth.
Above is a chart of the percent contributions to the percentage change in GDP. Notice the growth is spread out across different categories -- PCEs, investment and exports all contributed.
We'll be looking at this report in more detail throughout the day, but suffice it to say, this is a decent report.
4 comments:
Interesting...how are we supposed
to have deflation with 4% nominal
GDP growth???
Looks like Bonddad is having trouble drawing a trendline through the last three quarters of GDP. This is a strange oversight, since he is very quick to spot upward trends in even the most feeble upward data series.
As long as there is a single positive number left to be found in the data on the recovery-less recovery, you can be sure to see Bonddad touting it here. He just can't admit he made a bad call.
Dear Bob -
For a man who supposedly knows so much about economics ... you really don't know much about economics.
The last two recoveries had between 3-5 weak quarters after the end of the recession (which ended in July of 2009). This recession, in fact, has a better post end track record than the other two.
Of course, so long as you keep saying, "there's trouble around the corner, but it's just not here yet you can continue to avoid any responsibility for the over 50 bad calls you made in the last year.
through all this hullabaloo...2nd
qtr nominal Gdp was supposed to come in at 14.700 trillion...after
revisions we are at 14.598 trillion.....
Post a Comment