GDP rose 2.9% in 4th quarter

[floridafan]

Fourth-quarter gross domestic product, the sum of all goods and services produced for the October-to-December period, rose at a 2.9% annualized pace, the Commerce Department reported Thursday. Economists surveyed by Dow Jones had expected a reading of 2.8%.

The growth rate was slightly slower than the 3.2% pace in the third quarter.

Stock market futures rose following the report while Treasury yields were mostly higher as well.

Consumer spending, which accounts for about 68% of GDP, increased 2.1% for the period, down slightly from 2.3% in the previous period but still positive.

Inflation readings moved considerably lower. The personal consumption expenditures price index increased 3.2%, in line with expectations but down sharply from 4.8% in the third quarter. Excluding food and energy, the chain-weighted index rose 3.9%, down from 4.7%.

[Cypress]

28 months ago Donald Trumpf practically guaranteed an unprecedented economic depression of apocalyptic proportions if Americans dared elect Biden.

[Walt]

If there is a recession coming, it has not happened yet.

[PostmodernProphet]

everything costs more after Biden inflation.....

[Hawkeye10]

But perhaps most troubling is the precipitous drop in real disposable income, which fell over $1 trillion in 2022.

For context, this is the second-largest percentage drop in real disposable income ever, behind only 1932, the worst year of the Great Depression. To keep up with inflation, consumers are depleting their savings and burning through the "stimulus" checks they received during 2020 and 2021. Credit card debt continues growing, while savings plummeted $1.6 trillion last year, falling below 2009 levels.

https://www.foxbusiness.com/markets/...ning-sign-1932

Buckle up Fuckers....this is going to hurt.

[Hawkeye10]

It illusion of a sound economy is being supported by the making of new dollars, which is ending, is ruining the dollar, is ruining America's credibility, and is playing right into the hands of The New Chinese Empire.

Crushing poverty is right around the corner for huge portions of the American people.

[Saint Guinefort]

Buckle up Fuckers....this is going to hurt.

It honestly feels like we are in some sort of time-loop. We are slowly re-visiting the 1920's and 1930's. We've got a global pandemic and the rise of nationalism and fascism and dictatorships all over the place. So, sure, why not throw in a Depression?

[Saint Guinefort]

28 months ago Donald Trumpf practically guaranteed an unprecedented economic depression of apocalyptic proportions if Americans dared elect Biden.

Why anyone would be surprised at economic fluctuations after a once-in-a-century global pandemic and associated loss of huge chunks of the economy is beyond me. And how they find a way to blame Biden for it is equally bizarre.

I don't even blame Trump! (But if Trump hadn't been such a moron we might have handled the early pandemic better, but it would be tough no matter who was doing it. Even someone who WASN'T suffering from the effects of late-stage tertiary syphillis.

[Hawkeye10]

It honestly feels like we are in some sort of time-loop. We are slowly re-visiting the 1920's and 1930's. We've got a global pandemic and the rise of nationalism and fascism and dictatorships all over the place. So, sure, why not throw in a Depression?

The difference this time is that the Chinese are determined to bury us for as far as the eye can see as retribution for what they consider to be our crimes. All of the dying West will be hurt, but America most of all.

[ptif219]

Fourth-quarter gross domestic product, the sum of all goods and services produced for the October-to-December period, rose at a 2.9% annualized pace, the Commerce Department reported Thursday. Economists surveyed by Dow Jones had expected a reading of 2.8%.

The growth rate was slightly slower than the 3.2% pace in the third quarter.

Stock market futures rose following the report while Treasury yields were mostly higher as well.

Consumer spending, which accounts for about 68% of GDP, increased 2.1% for the period, down slightly from 2.3% in the previous period but still positive.

Inflation readings moved considerably lower. The personal consumption expenditures price index increased 3.2%, in line with expectations but down sharply from 4.8% in the third quarter. Excluding food and energy, the chain-weighted index rose 3.9%, down from 4.7%.

Gas prices are increasing and heating expense will take a huge bite in consumers income. The GDP decreasing is a sign the economy is going south

[Nordberg]

Gas prices are increasing and heating expense will take a huge bite in consumers income. The GDP decreasing is a sign the economy is going south

GDP increased. And you think the people will burn through stimulus checks they got 2 years ago? You are starving for anything nearing logic. You are lost.

[floridafan]

Gas prices are increasing and heating expense will take a huge bite in consumers income. The GDP decreasing is a sign the economy is going south

The GDP decrease was insignificant, but goes to prove that there is no recession. Instead of being so negative sweetie, why dont you give some credit where it is due?

[Nordberg]

https://www.foxbusiness.com/markets/...ning-sign-1932

Buckle up Fuckers....this is going to hurt.

Fox. Can you guess why we don't leap off buildings in fear of depression? You should read other sources.

[ptif219]

GDP increased. And you think the people will burn through stimulus checks they got 2 years ago? You are starving for anything nearing logic. You are lost.

People do not want to work. Gas prices have increased 30 cents in the last couple of weeks. As gas proces rise so will inflation

[ptif219]

The GDP decrease was insignificant, but goes to prove that there is no recession. Instead of being so negative sweetie, why dont you give some credit where it is due?

Credit for what?