Thursday
28Aug
Oh, No! GDP Grew By 3.3% 2nd Quarter! Woe, Misery, Etc.
Thursday, August 28, 2008 at 12:53Oh, wait. That's the leftist reaction. Sorry.
The rest of the country is happy that recession seems more remote now than 6 months ago.
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Reader Comments (8)
Actually the reaction of this leftist is that it is only good news if GDP growth outpaced inflation which I don't think is the case. If inflation outpaced GDP it means that in real terms GDP shrank.
But don't let me spoil your party.
"If inflation outpaced GDP it means that in real terms GDP shrank."
GDP has NEVER been measured against this metric but leave it up to the libs to make lemons out of lemonade.
I'll take back what I said, apparenlty the GDP growth numbers are Real GDP growth.
Here's one piece of analysis, from AFP. There are lots of mixed signals on this one; I think the economists are a wee bit confused.
The article does point out that trade figures alone were responsible for 3.1% of the overall growth rate; exports surged 13.2% (after predictions expected 9.2%) while imports fell more than expected, 7.6% as opposed to 6.6% predicted.
I guess the question might be whether the trade balance will sustain that kind of favorable contribution...but I don't read that brand of tea leaves. *laugh*
Let's hope the improvement continues.
Wes, do you recall the Al Capp character named Joe Btfsplk? Walked around in the Li'l Abner comic strip with a perpetual dark cloud over his head.
I think we've found our nation of whiners...
Wow...I say that I hope it continues to improve, and you guys compare me to Joe Btfsplk and a 'nation of whiners?' Do you expect people to jump up and down screaming hosannas for one quarter's results?
We must be in a recession.