US Economy Grew at Blistering Pace in 3rd Quarter

[sunny225]

www.msn.com/en-us/money/markets/us-economy-grew-at-blistering-pace-in-3rd-quarter/ar-AA1iSpfM?bncnt=BroadcastNews_TopStories&ocid=UCPNC2&FORM=BNC001

Lies and damned lies.

[Ozarks Tom]

I'll wait to celebrate until next month when the "revised" numbers come out, like they always do.

[farmrbrown]

It's funny, I sorta knew how that headline could be true, and at the same time STILL "bad news", but I wanted to see the data report before I said anything.
Here's the quote from the 2nd link in the story.

Advance estimates of U.S. retail and food services sales for September 2023, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $704.9 billion, up 0.7 percent (±0.5 percent) from the previous month, and up 3.8 percent (±0.7 percent) above September 2022. Total sales for the July 2023 through September 2023 period were up 3.1 percent (±0.4 percent) from the same period a year ago. The July 2023 to August 2023 percent change was revised from up 0.6 percent (±0.5 percent) to up 0.8 percent (±0.1 percent)

See? It's just simple math and they're HOPING no one bothers to figure out that "consumer spending doubled" this last quarter NOT because everything is rosy but because inflation is making everything COST so damn much!

[BrewDaddy]

Oct 27, 2023 3:25:13 GMT farmrbrown said:

It's funny, I sorta knew how that headline could be true, and at the same time STILL "bad news", but I wanted to see the data report before I said anything.
Here's the quote from the 2nd link in the story.

Advance estimates of U.S. retail and food services sales for September 2023, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $704.9 billion, up 0.7 percent (±0.5 percent) from the previous month, and up 3.8 percent (±0.7 percent) above September 2022. Total sales for the July 2023 through September 2023 period were up 3.1 percent (±0.4 percent) from the same period a year ago. The July 2023 to August 2023 percent change was revised from up 0.6 percent (±0.5 percent) to up 0.8 percent (±0.1 percent)

See? It's just simple math and they're HOPING no one bothers to figure out that "consumer spending doubled" this last quarter NOT because everything is rosy but because inflation is making everything COST so damn much!

Bingo!

bd

[Ozarks Tom]

One thing that most people don't realize is that government spending is included in the GDP numbers. In other words, if the government goes hog wild in spending, like they've been doing for years, it increases that GDP figure they rejoice in. Sort of ironic, hey?