America totally overestimated/faked their Growth Numbers for the 4th Quarter (2.4% now, not 3.2%)

[senheiser]

US economic growth rate revised down

An unusually harsh US winter has cut into vehicle sales
Continue reading the main story
US Economy

• Yellen: Stimulus cuts to continue
• US jobs growth lower than expected
• US economy growing at 3.2% a year
• US trade deficit at four-year low

The US economy grew at a much slower rate from October to December than originally predicted, the US Commerce Department said.

US gross domestic product (GDP) grew at an annualised rate of 2.4% in the fourth quarter of 2013, down from an initial estimate of 3.2%.

The revision is down to weaker than expected consumer spending.

Severe winter weather in the US is expected to slow growth further in the current quarter.

The Commerce Department initially predicted consumer spending had expanded by 3.3%, but spending is now estimated to have grown at a 2.6% annual rate.

Consumer spending accounts for roughly 70% of US economic activity.

Bad winter weather has cut into vehicle sales, among other purchases.

Despite the revised GDP estimate, US growth should be regarded as strong, the financial information firm Markit said.

"The details of the report suggest that investment is growing at an increased rate and underlying demand continued to expand at a reassuringly robust rate, given the headwinds during the closing months of 2013," said Markit chief economist Chris Williamson.

For all of 2013, the economy grew at 1.9%.

Spending cuts
Last year, government spending cuts and higher federal taxes squeezed GDP growth.

Economists estimate that the contraction in public spending and higher taxes knocked about 1.5% from growth last year.

The measures were put in place to try to counter soaring budget deficits.

Some economists think growth will start to pick up in the spring.

Federal Reserve chair Janet Yellen said on Thursday that the central banking system expected the US economy to strengthen this year, lowering unemployment.

The Fed is gradually reducing its monthly bond purchases, in an effort to keep long-term loan rates low and encourage spending and growth.

It reduced its original $85bn (£51bn) monthly bond purchases by $10bn in December and January in steps, down to a current level of $65bn.

 

[Beidou2020]

Those are just the official numbers. The real numbers are far worse if they calculated the GDP deflator properly as they underestimate inflation.

And this 2.4% 'growth' was the 4th Quarter GDP but their growth for the whole of 2013 was 1.9%.

That 1.9% of 'growth' was achieved with 0% interest rates and $1 trillion of annual Quantitative Easing (QE).

Just imagine where the Yankee economy would be if they had no QE and normal interest rates at around 3%.

Yup, you get the picture why that country is economically finished.

 

[gambit]

Those are just the official numbers. The real numbers are far worse if they calculated the GDP deflator properly as they underestimate inflation.

And this 2.4% 'growth' was the 4th Quarter GDP but their growth for the whole of 2013 was 1.9%.

That 1.9% of 'growth' was achieved with 0% interest rates and $1 trillion of annual Quantitative Easing (QE).

Just imagine where the Yankee economy would be if they had no QE and normal interest rates at around 3%.

Yup, you get the picture why that country is economically finished.

And WHEN the US economy gains strength, will you eat your words? Do not bother to answer. You can probably barely know how to balance a checkbook, let alone talk about national and global economics.

 

[cirr]

hmmmm。。。

Housing expenditure for owner-occupiers is counted as 1200 USD per household per month in US GDP。

Housing expenditure for owner-occupiers is counted as 158 yuan per household per month in Chinese GDP。

 

[gambit]

hmmmm。。。

Housing expenditure for owner-occupiers is counted as 1200 USD per household per month in US GDP。

Housing expenditure for owner-occupiers is counted as 158 yuan per household per month in Chinese GDP。

A house in the US can hold 3 generations of a Chinese family. And that is a good laugh.

 

[BigDaddyWatch]

In America you have the FED chair person Janet yellen blaming the bad weather for the poor economic numbers. She said that in a room full of people while the camera was rolling. And no one laugh out loud. This shows you how bad the situation is in America and how deep the denial is about it.

Hard to tell how much weather played a role in economic weakness: Yellen

 

[cirr]

A house in the US can hold 3 generations of a Chinese family. And that is a good laugh.

So that's how your adopted country inflates the size of its economy？

How many coins do you see left in your pockets after deducting all the expenses of life？

When was the last time you had a back and foot massage？

Perhaps you won't even be able to afford a decent haircut once your adopted Uncle stop printing the green ***-wipers？

 

[gambit]

So that's how your adopted country inflates the size of its economy？

How many coins do you see left in your pockets after deducting all the expenses of life？

When was the last time you had a back and foot massage？

Perhaps you won't even be able to afford a decent haircut once your adopted Uncle stop printing the green ***-wipers？

My house is 3000 sq/ft on .25 acre. How about yours?

What...??? You do not have a house?

 

[ChineseTiger1986]

Those are just the official numbers. The real numbers are far worse if they calculated the GDP deflator properly as they underestimate inflation.

And this 2.4% 'growth' was the 4th Quarter GDP but their growth for the whole of 2013 was 1.9%.

That 1.9% of 'growth' was achieved with 0% interest rates and $1 trillion of annual Quantitative Easing (QE).

Just imagine where the Yankee economy would be if they had no QE and normal interest rates at around 3%.

Yup, you get the picture why that country is economically finished.

Now the green papers have totally become a pain in the *** for the world.

And China will cooperate with Russia and the rest of the world to put an end onto it.

 

[Genesis]

And WHEN the US economy gains strength, will you eat your words? Do not bother to answer. You can probably barely know how to balance a checkbook, let alone talk about national and global economics.

When China didn't fall, will Western commentator eat theirs?

Only difference? The eating of words should have taken place some 15 years ago by Western commentators.

 

[senheiser]

seriously americans you made huge economic damage by faking your numbers. People pulled out their money from emerging markets to america since they believed it would be 3.2%, emerging markets should sue the US for faking numbers making economic damage as well hurting investors by lying to them too, its violation against imf and worldbak rules.

 

[Beidou2020]

And WHEN the US economy gains strength, will you eat your words? Do not bother to answer. You can probably barely know how to balance a checkbook, let alone talk about national and global economics.

I've been waiting since the day Lehman Brothers went bankrupt to see the US economy gain strength. Over 5 years and still 0% interest rates and $1 trillion in QE.

IF it gains strength, it will be a miracle.

 

[UKBengali]

And WHEN the US economy gains strength, will you eat your words? Do not bother to answer. You can probably barely know how to balance a checkbook, let alone talk about national and global economics.

US economic strength was based on being the sole superpower after the fall of the Soviet Union.

Now with a resurgent Russia and a rising China, the US will have to pay it's way in the World again.

Days of US as a superpower is already finished - it could not defend Georgia or Ukraine against Russia.

 

[TheTruth]

A house in the US can hold 3 generations of a Chinese family. And that is a good laugh.

You've clearly never left your house

When China didn't fall, will Western commentator eat theirs?

Only difference? The eating of words should have taken place some 15 years ago by Western commentators.

Also 2, 8, and 30 years ago. But they've eaten too many cheeseburgers, not enough room for words