Good news. Economy grew by 3.2% in 1st quarter: Disposable growth grew by 3%. https://www.nbcnews.com/business/economy/economy-grew-3-2-percent-first-quarter-best-growth-four-n998876...

SteveR Loc: Michigan

Disposable growth grew by 3%.

https://www.nbcnews.com/business/economy/economy-grew-3-2-percent-first-quarter-best-growth-four-n998876

Black Elk Peak

Yup.....and my IRA is loving it.

Vaughan K.

IDguy Loc: Idaho

While I doubt the reporting it isn’t surprising that shutting down the federal government helped the economy.

3.2%/quarter = 12.8% per year. That would break all historical records. My guess is that it grew at a 3.2% annual rate and that the the reporter doesn’t know the difference.

Edit: yep, https://www.bea.gov/news/2019/gross-domestic-product-1st-quarter-2019-advance-estimate

IDguy Loc: Idaho

IDguy wrote:

While I doubt the reporting it isn’t surprising that shutting down the federal government helped the economy.

3.2%/quarter = 12.8% per year. That would break all historical records. My guess is that it grew at a 3.2% annual rate and that the the reporter doesn’t know the difference. Usual fake news.

Edit: yep, https://www.bea.gov/news/2019/gross-domestic-product-1st-quarter-2019-advance-estimate

SteveR Loc: Michigan

IDguy wrote:

While I doubt the reporting it isn’t surprising that shutting down the federal government helped the economy.

3.2%/quarter = 12.8% per year. That would break all historical records. My guess is that it grew at a 3.2% annual rate and that the the reporter doesn’t know the difference.

Edit: yep, https://www.bea.gov/news/2019/gross-domestic-product-1st-quarter-2019-advance-estimate

I think you're reading it incorrectly. If I'm not mistaken, if 3.2% growth for the quarter is maintained it would mean 3.2% growth for the year. It's an annualized type of statistic. The type of increases that you're thinking about would lead to inflation and corresponding increases in the interest rates.

Notice, too, that this is an NBCNews.com article.

IDguy Loc: Idaho

SteveR wrote:

I think you're reading it incorrectly. If I'm not mistaken, if 3.2% growth for the quarter is maintained it would mean 3.2% growth for the year. It's an annualized type of statistic. The type of increases that you're thinking about would lead to inflation and corresponding increases in the interest rates.

Notice, too, that this is an NBCNews.com article.

That is my point! The author clearly states the economy grew 3.2% for the quarter. It did not. It grew by 1/4 of that.

SteveR Loc: Michigan

This article better explains what was meant by the 3.2% growth. It was 3.2% growth in g.d.p. Only 2.5% was expected.

https://www.cnbc.com/2019/04/26/gdp-q1-2019-first-read.html

IDguy Loc: Idaho

SteveR wrote:

This article better explains what was meant by the 3.2% growth. It was 3.2% growth in g.d.p. Only 2.5% was expected.

https://www.cnbc.com/2019/04/26/gdp-q1-2019-first-read.html

No, it was 1/4 of that.

SteveR Loc: Michigan

IDguy wrote:

No, it was 1/4 of that.

The WSJ defines it most clearly...."Gross Domestic Product- the value of all goods and services produced in the U.S., adjusted for inflation and seasonality- rose at a 3.2% annual rate from January through March."

IDguy Loc: Idaho

SteveR wrote:

The WSJ defines it most clearly...."Gross Domestic Product- the value of all goods and services produced in the U.S., adjusted for inflation and seasonality- rose at a 3.2% annual rate from January through March."

Yes, that is the correct way to state it.

SteveR Loc: Michigan

IDguy wrote:

Yes, that is the correct way to state it.

I like those well-written news reports that are concisely written and really define things.