BarryLaverty Posted January 27, 2022 Share Posted January 27, 2022 Booming expansion of economy, as we continue to move forward. Hopefully other measures will be put into place to continue progress. Thanks, President Biden, for your steady leadership. https://www.yahoo.com/finance/news/q4-gdp-us-economic-activity-recovery-192945002.html Q4 GDP: US economy expanded at 6.9% annualized rate, topping expectations Emily McCormick ·Reporter Thu, January 27, 2022, 7:31 AM U.S. gross domestic product (GDP) ramped up in the final months of 2021, with still-solid consumer spending helping stoke growth and offset early negative impacts from the Omicron variant's spread. The Bureau of Economic Analysis (BEA) released its first estimate of fourth-quarter GDP on Thursday. Here were the main metrics from the print, compared to consensus estimates compiled by Bloomberg: GDP quarter-over-quarter, annualized: 6.9% vs. 5.5% expected, 2.3% in Q3 Personal consumption: 3.3% vs. 3.4% expected, 2.0% in Q3 Core personal consumption expenditures, quarter-over-quarter: 4.9% vs. 4.9% expected, 4.6% in Q3 Growth in the fourth quarter rebounded more than expected from the third quarter's disappointing rate of expansion, when GDP rose at a 2.3% annualized rate — its slowest since mid-2020. But despite the brief deceleration in third-quarter GDP, economic growth throughout 2021 had been robust as vaccinations picked up across the country and stay-in-place behaviors began to abate. For the full-year 2021, GDP grew at a 5.7% rate, marking the fastest since 1984. And this marked a sharp reversal from the contraction seen in the economy in 2020, when GDP shrank by 3.4%. A jump in consumer spending during this year's record holiday shopping season helped contribute to the headline gain in the fourth quarter. As consumers attempted to get ahead of supply chain delays and out-of-stocks, spending was pulled forward from the typical holiday period of November and December to October. This helped to lift overall fourth-quarter consumption for the final three months of the year to a rate well above that from the third quarter, even as retail sales in December pulled back on a month-over-month basis. But even more notable during the quarter was the jump in private inventories, as companies worked to replenish supplies drawn down in the early phase of the reopening as demand soared. The build in private inventories contributed 4.9 percentage points to the headline 6.9% jump in GDP, and was led in turn by inventory investment by motor vehicle dealers, the BEA said in its report Other areas of the economy, however, served as drags to GDP. Government consumption expenditures subtracted about half of a percentage point from headline GDP, reflecting a "decrease in defense spending on intermediate goods. and services," the BEA said. And government assistance payments also decreased during the second half of the year relative to the first, as COVID-related relief programs tapered off. Net trade had a net neutral impact on GDP following five consecutive quarters of negative contribution, as a surge in imports — which subtracts from GDP — was offset by a rise in exports during the quarter. Embedded in the report was also yet another sign of soaring inflation, with widespread supply shortages and elevated consumer demand pushing up prices. The GDP price index soared by 6.9% — the most since 1981 — to exceed consensus estimates for a 6.0% gain. And core personal consumption expenditures (PCE) accelerated to reach a 4.9% quarter-over-quarter pace, compared to the third quarter's 4.6% clip. And as usual, the latest quarterly GDP report serves as a backwards-looking indicator capturing the economic momentum heading into the first quarter of 2022. Given that the Omicron variant first discovered in the U.S. only very late in November, notable impacts from the virus were likely not reflected in the latest GDP print. Many economists are expecting to see the data reflect a deceleration in growth for the start of this year, as the further spread of Omicron dampened activity and compounded with other drags to the economy. Just earlier this week, the International Monetary Fund (IMF) lowered its forecast for U.S. and global growth this year, citing ongoing supply chain challenges, lower expected fiscal stimulus after the collapse of President Joe Biden's sweeping Build Back Better package, and the pullback of highly accommodative monetary policies from the Federal Reserve. "The pace of economic momentum has slowed in recent weeks due to the impact from the Omicron variant," Sam Bullard, Wells Fargo managing director and senior economist, wrote in a note ahead of Thursday's report. "Add on the expiration of the monthly Child Tax Credit and ongoing challenges to the supply chain (labor, material and transportation), first quarter GDP growth looks to have decelerated substantially — our call 2.9%." 2 Link to comment Share on other sites More sharing options...
DB2point0 Posted January 27, 2022 Share Posted January 27, 2022 Inflation outpaced it 2 Link to comment Share on other sites More sharing options...
BoyzNdaHood Posted January 27, 2022 Share Posted January 27, 2022 Inflation was coming no matter who was president.... 1 1 1 Link to comment Share on other sites More sharing options...
ctown81 Posted January 27, 2022 Share Posted January 27, 2022 30 minutes ago, JETT said: Inflation was coming no matter who was president.... They just can't give any credit at all. sad Link to comment Share on other sites More sharing options...
ObiOne Posted January 27, 2022 Share Posted January 27, 2022 1 minute ago, ctown81 said: They just can't give any credit at all. sad Credit for what? Link to comment Share on other sites More sharing options...
ctown81 Posted January 27, 2022 Share Posted January 27, 2022 5 minutes ago, ObiOne said: Credit for what? The improvement in the economy. Link to comment Share on other sites More sharing options...
Youngcoach123 Posted January 27, 2022 Share Posted January 27, 2022 13 minutes ago, ctown81 said: The improvement in the economy. 1 1 Link to comment Share on other sites More sharing options...
ObiOne Posted January 27, 2022 Share Posted January 27, 2022 16 minutes ago, ctown81 said: The improvement in the economy. No credit given for Munchausen syndrome. Even if you let up a little. Link to comment Share on other sites More sharing options...
BoyzNdaHood Posted January 27, 2022 Share Posted January 27, 2022 R's= bidens killing the economy and taking away jobs Also R's= biden gets no credit for the growth and jobs created 1 Link to comment Share on other sites More sharing options...
mellon Posted January 27, 2022 Share Posted January 27, 2022 10 minutes ago, ObiOne said: No credit given for Munchausen syndrome. Even if you let up a little. You might want to draw them a picture. 1 1 Link to comment Share on other sites More sharing options...
Wild74 Posted January 27, 2022 Share Posted January 27, 2022 It didn't top my expectations, 401K Down, Inflation up, interest rates up, my expectations will never be met by this loon in office 1 Link to comment Share on other sites More sharing options...
KirtFalcon Posted January 27, 2022 Share Posted January 27, 2022 So businesses are reopening and ignoring the plandemic and Fauchi and people are slowly returning to work after the lockdowns .... nothing to do with anything s has done .... he's hasn't done anything but stand in the way of progress .... now he wants to take credit for recovering from the government imposed slowdown? Laughable ... No telling where the ecoonomy would be without the plandemic and stolen election .... 2 Link to comment Share on other sites More sharing options...
osup116 Posted January 27, 2022 Share Posted January 27, 2022 Wish I could see the report from Northern Locked down states and Southern Republican states that went against the wishes of this administration. Think it would be eye opening. Have a feeling Texas and Florida is caring the rest of the United States Link to comment Share on other sites More sharing options...
DannyZuco Posted January 27, 2022 Share Posted January 27, 2022 38 minutes ago, JETT said: R's= bidens killing the economy and taking away jobs Also R's= biden gets no credit for the growth and jobs created You don't get credit for something that was there before it was taken away of stupid liberal policies on both sides of the aisle. If we had NOT shut down most of the economy for almost a full year--there would NOT be this much growth, because people are just getting back to where we were prior to the plandemic. But like a good liberal, you consider everything the MSM tells you as "truth". For someone who supposedly creats jobs for people, you don't much about GDP. SMH. 2 Link to comment Share on other sites More sharing options...
Youngcoach123 Posted January 27, 2022 Share Posted January 27, 2022 2 minutes ago, DannyZuco said: You don't get credit for something that was there before it was taken away of stupid liberal policies on both sides of the aisle. If we had NOT shut down most of the economy for almost a full year--there would NOT be this much growth, because people are just getting back to where we were prior to the plandemic. But like a good liberal, you consider everything the MSM tells you as "truth". For someone who supposedly creats jobs for people, you don't much about GDP. SMH. You can’t call getting back what you had growth anyways. 1 Link to comment Share on other sites More sharing options...
DannyZuco Posted January 27, 2022 Share Posted January 27, 2022 18 minutes ago, osup116 said: Wish I could see the report from Northern Locked down states and Southern Republican states that went against the wishes of this administration. Think it would be eye opening. Have a feeling Texas and Florida is caring the rest of the United States Ask, and receive only through the 3rd quarter though. 3 Link to comment Share on other sites More sharing options...
DannyZuco Posted January 27, 2022 Share Posted January 27, 2022 2 minutes ago, Youngcoach123 said: You can’t call getting back what you had growth anyways. I understand, but I also know EVERY president does it, even though they REALLY don't create jobs at all, their policies either help or hinder economic growth. And while it looks good right now, 2-3 years from now, with runaway inflation, it won't look so good. I know, have lived it through the Jimmy Carter years. Link to comment Share on other sites More sharing options...
DB2point0 Posted January 27, 2022 Share Posted January 27, 2022 2 hours ago, ctown81 said: The improvement in the economy. What improvement? Used vehicles are 40% above normal prices. Groceries are up almost 10%. Fuel is up a lot. Lots of stores don’t have stuff on the shelves. The stock markets reaching all time highs don’t always tell the tale. Link to comment Share on other sites More sharing options...
DB2point0 Posted January 27, 2022 Share Posted January 27, 2022 When growth is outpaced by inflation you don’t have a great economy. The inflation happened the last year Link to comment Share on other sites More sharing options...
BarryLaverty Posted January 27, 2022 Author Share Posted January 27, 2022 1 hour ago, mellon said: You might want to draw them a picture. I am positive he has the crayons if he wants to do it! 1 Link to comment Share on other sites More sharing options...
Monte1076 Posted January 27, 2022 Share Posted January 27, 2022 2 hours ago, JETT said: R's= bidens killing the economy and taking away jobs Also R's= biden gets no credit for the growth and jobs created If you have $100...and I take $90 from you, and then later give it back, how much money did you actually get? Link to comment Share on other sites More sharing options...
Monte1076 Posted January 27, 2022 Share Posted January 27, 2022 43 minutes ago, DB2point0 said: What improvement? Used vehicles are 40% above normal prices. Groceries are up almost 10%. Fuel is up a lot. Lots of stores don’t have stuff on the shelves. The stock markets reaching all time highs don’t always tell the tale. A few months back, I was looking at an instrument I had my eye on. It was just over $100. If I recall correctly, it was somewhere around $110. I just checked, and the EXACT SAME INSTRUMENT is now basically $150. I was also looking at an amplifier recently. A couple of weeks ago it was $250. Now, it's $270. Link to comment Share on other sites More sharing options...
osup116 Posted January 27, 2022 Share Posted January 27, 2022 2 hours ago, DannyZuco said: Ask, and receive only through the 3rd quarter though. Wonder why Yahoo did not present it in this fashion Link to comment Share on other sites More sharing options...
BoyzNdaHood Posted January 27, 2022 Share Posted January 27, 2022 1 hour ago, Monte1076 said: If you have $100...and I take $90 from you, and then later give it back, how much money did you actually get? So the economy is equal to when the last administration left it? Link to comment Share on other sites More sharing options...
Monte1076 Posted January 27, 2022 Share Posted January 27, 2022 1 minute ago, JETT said: So the economy is equal to when the last administration left it? Possibly. I haven't had the time (or inclination, really) to look more closely at the numbers than I have. Link to comment Share on other sites More sharing options...
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