Better Than Nothing? GDP Revised From Slight Drop To Slight Gain.

[Sallow]

Remember not to long ago Conservatives were popping champagne corks about the bad news in the last quarter?

t's not much of a change, but at least it's in the right direction.

The Bureau of Economic Analysis reported Thursday morning that it now thinks the economy grew at a 0.1 percent annual rate in fourth-quarter 2012. A month ago, BEA thought GDP shrank at a 0.1 percent annual rate in those last three months of the year.

Obviously, in an economy that now produces nearly $16 trillion worth of goods and services annually, a 0.2 percentage point revision is basically a blip.

But, the revision does mean that GDP has — technically, at least — grown for 14 consecutive quarters. Growth slowed sharply as the year ended, however, from a 3.1 percent pace in the third quarter. Economists have put some of the blame on superstorm Sandy, which hit New York, New Jersey and surrounding states hard in late October.

According to Reuters, "a slightly better performance" than first thought in exports and fewer imports led to the fourth-quarter GDP revision.

 

[Rozman]

I guess we will now get more prodding from the left to give Obama thanks for this tremendous accomplishment.

 

[Sallow]

I guess we will now get more prodding from the left to give Obama thanks for this tremendous accomplishment.

Well..

It was..and will be remember as such.

He turned the shit sandwich the Conservatives left him..into a ham sandwich..with a little cheese.

Not exactly roast beef..but edible.

 

[hortysir]

Remember not to long ago Conservatives were popping champagne corks about the bad news in the last quarter?

t's not much of a change, but at least it's in the right direction.

The Bureau of Economic Analysis reported Thursday morning that it now thinks the economy grew at a 0.1 percent annual rate in fourth-quarter 2012. A month ago, BEA thought GDP shrank at a 0.1 percent annual rate in those last three months of the year.

Obviously, in an economy that now produces nearly $16 trillion worth of goods and services annually, a 0.2 percentage point revision is basically a blip.

But, the revision does mean that GDP has — technically, at least — grown for 14 consecutive quarters. Growth slowed sharply as the year ended, however, from a 3.1 percent pace in the third quarter. Economists have put some of the blame on superstorm Sandy, which hit New York, New Jersey and surrounding states hard in late October.

According to Reuters, "a slightly better performance" than first thought in exports and fewer imports led to the fourth-quarter GDP revision.

No. Not really.....

Refresh my memory