{"id":36672,"date":"2019-07-26T18:25:41","date_gmt":"2019-07-26T22:25:41","guid":{"rendered":"http:\/\/www.rightwinggranny.com\/?p=36672"},"modified":"2019-07-26T18:25:41","modified_gmt":"2019-07-26T22:25:41","slug":"the-economy-continues-to-move-in-a-positive-direction","status":"publish","type":"post","link":"https:\/\/www.rightwinggranny.com\/?p=36672","title":{"rendered":"The Economy Continues To Move In A Positive Direction"},"content":{"rendered":"

Ed Morrissey posted an article at Hot Air<\/a> today about the latest economic numbers. As usual when a Republican is President, the ‘experts’ were surprised that the numbers were better than expected.<\/p>\n

The article reports:<\/p>\n

It\u2019s not great news for the White House<\/a>, but it could have been a lot worse. The US economy\u2019s growth slowed to 2.1% in the second quarter, down a full point from Q1. However, with economists predicting a recession right around the corner, the growth is still substantial enough to look positive:<\/strong><\/p>\n

Real gross domestic product (GDP) increased at an annual rate of 2.1 percent in the second quarter of 2019 (table 1), according to the \u201cadvance\u201d estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP increased 3.1 percent.<\/strong><\/p>\n

The Bureau\u2019s second-quarter advance estimate released today is based on source data that are incomplete or subject to further revision by the source agency (see \u201cSource Data for the Advance Estimate\u201d on page 2). The \u201csecond\u201d estimate for the second quarter, based on more complete data, will be released on August 29, 2019.<\/strong><\/p>\n

The increase in real GDP in the second quarter reflected positive contributions from personal consumption expenditures (PCE), federal government spending, and state and local government spending that were partly offset by negative contributions from private inventory investment, exports, nonresidential fixed investment and residential fixed investment. Imports, which are a subtraction in the calculation of GDP, increased (table 2).<\/strong><\/p>\n

The deceleration in real GDP in the second quarter reflected downturns in inventory investment, exports, and nonresidential fixed investment. These downturns were partly offset by accelerations in PCE and federal government spending.<\/strong><\/p>\n

President Trump weighed in on Twitter:<\/p>\n

\"\"<\/a>The article at Hot Air concludes:<\/p>\n

\u201cNot bad\u201d is a little bit of an understatement, actually. It\u2019s pretty good, especially in the context of the global economy. That\u2019s the bigger anchor, especially the trade disputes that at least for one quarter hit our exports hard.<\/strong><\/p>\n

The steady growth with low inflation should result in the Federal Reserve lowering interest rates in the near future.<\/p>\n","protected":false},"excerpt":{"rendered":"

Ed Morrissey posted an article at Hot Air today about the latest economic numbers. As usual when a Republican is President, the ‘experts’ were surprised that the numbers were better than expected. The article reports: It\u2019s not great news for … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[1766,3428,221,10015,7069,172,506,1583,8123,5884,10589,10346,2561],"class_list":["post-36672","post","type-post","status-publish","format-standard","hentry","category-uncategorized","tag-bureau-of-economic-analysis","tag-economy","tag-ed-morrissey","tag-federal-government","tag-federal-reserve","tag-government-spending","tag-gross-domestic-product","tag-hot-air","tag-inflation","tag-interest-rate","tag-president-trump","tag-trump","tag-twitter"],"_links":{"self":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/36672","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=36672"}],"version-history":[{"count":1,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/36672\/revisions"}],"predecessor-version":[{"id":36674,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/36672\/revisions\/36674"}],"wp:attachment":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=36672"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=36672"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=36672"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}