gemini104104
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Since the lawlessly hacked in Putin lap dog tRump and his sewer mob got the 2020 boot! and left an economical and foreign relations atrocity to dump on President Biden's lap, President Biden and team have worked hard in over one year to deal with atrocities associated with the former un-American tRump gutter mob that desecrated the White House. That in order to do the will of foreign and domestic enemies:
ECONOMY
10% GDP growth? The U.S. economy is on fire, and is about to get stoked even more
The U.S. economy has roared back to life in 2021, with first-quarter growth set to defy even the rosiest expectations as another fresh influx of cash looms.
Manufacturing data Monday showed the sector at its highest growth level since August 2018. That report from the Institute for Supply Management in turn helped confirm the notion among economists that output to start the year is far better than the low single-digit growth many had been predicting in late 2020.
The Atlanta Federal Reserve, which tracks data in real time to estimate changes in gross domestic product, now is indicating a 10% gain for the first three months of the year. The GDPNow tool generally is volatile early in the quarter then becomes more accurate as the data rolls in through the period.
That comes on the heels of a report Friday showing that personal income surged 10% in January, thanks largely to $600 stimulus checks from the government. Household wealth increased nearly $2 trillion for the month while spending rose just 2.4%, or $340.9 billion.
Those numbers, along with a burst of nearly $4 trillion in savings, pointed to an economy not only growing powerfully but also one that is poised to continue that path through the year.
“The V-shaped recovery in real GDP will remain V-shaped during the first half of this year and probably through the end of the year,” Ed Yardeni of Yardeni Research wrote in his daily note Tuesday. “However, it will no longer be a ‘recovery’ beyond Q1 because real GDP will have fully recovered during the current quarter. Thereafter, GDP will be in an ‘expansion’ in record-high territory.”
Economists previously hadn’t expected the $21.5 trillion U.S. economy to regain its pandemic-related losses until at least the second or third quarter of this year, if not later."
https://www.cnbc.com/2021/03/02/10p...ire-and-is-about-to-get-stoked-even-more.html
ECONOMY
10% GDP growth? The U.S. economy is on fire, and is about to get stoked even more
The U.S. economy has roared back to life in 2021, with first-quarter growth set to defy even the rosiest expectations as another fresh influx of cash looms.
Manufacturing data Monday showed the sector at its highest growth level since August 2018. That report from the Institute for Supply Management in turn helped confirm the notion among economists that output to start the year is far better than the low single-digit growth many had been predicting in late 2020.
The Atlanta Federal Reserve, which tracks data in real time to estimate changes in gross domestic product, now is indicating a 10% gain for the first three months of the year. The GDPNow tool generally is volatile early in the quarter then becomes more accurate as the data rolls in through the period.
That comes on the heels of a report Friday showing that personal income surged 10% in January, thanks largely to $600 stimulus checks from the government. Household wealth increased nearly $2 trillion for the month while spending rose just 2.4%, or $340.9 billion.
Those numbers, along with a burst of nearly $4 trillion in savings, pointed to an economy not only growing powerfully but also one that is poised to continue that path through the year.
“The V-shaped recovery in real GDP will remain V-shaped during the first half of this year and probably through the end of the year,” Ed Yardeni of Yardeni Research wrote in his daily note Tuesday. “However, it will no longer be a ‘recovery’ beyond Q1 because real GDP will have fully recovered during the current quarter. Thereafter, GDP will be in an ‘expansion’ in record-high territory.”
Economists previously hadn’t expected the $21.5 trillion U.S. economy to regain its pandemic-related losses until at least the second or third quarter of this year, if not later."
https://www.cnbc.com/2021/03/02/10p...ire-and-is-about-to-get-stoked-even-more.html