How’s That Recovery Working For You?
Bill Quick

BBC News – US economy grows by 4% after harsh winter weather

The US economy grew at an annual rate of 4% during the April-to-June period, latest figures released by the US Department of Commerce have shown.

Consumer spending – which makes up over two-thirds of US economy activity – grew by a robust 2.5%.

Business spending increased by 14% in the world’s largest economy, as businesses restocked inventories.

The growth during the second quarter reverses the contraction seen earlier in the year.

Measured on a quarter-on-quarter basis, GDP grew by 1%.

If I’m understanding this gooble-speak, the economy grew on average by .5% per quarter for the first six months of 2014.  And that’s assuming the second quarter won’t be revised downward, which is the usual outcome with these huge leaps.  (And, cynic that I am, I suspect books are being cooked well-done here….)

Yay!  We’re doing even worse than last year!

Bill Quick

About Bill Quick

I am a small-l libertarian. My primary concern is to increase individual liberty as much as possible in the face of statist efforts to restrict it from both the right and the left. If I had to sum up my beliefs as concisely as possible, I would say, "Stay out of my wallet and my bedroom," "your liberty stops at my nose," and "don't tread on me." I will believe that things are taking a turn for the better in America when married gays are able to, and do, maintain large arsenals of automatic weapons, and tax collectors are, and do, not.

Comments

How’s That Recovery Working For You? — 3 Comments

  1. It would be interesting to plot the initial numbers for each quarter’s “growth” against the revised numbers, showing that the economy would be twice as large if each initial number were correct. Let’s go back to 2001, to compare the differences under Bush43 vs under Obama.

    Would be more interesting to then add in the ShadowStats numbers, as best they can be figured from the lies the government puts out.