Democratic Underground Latest Greatest Lobby Journals Search Options Help Login
Google

GDP growth revised to 0.7%

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread
This topic is archived.
Home » Discuss » Latest Breaking News Donate to DU
 
Roland99 Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jun-28-07 07:41 AM
Original message
GDP growth revised to 0.7%
Source: Marketwatch

Growth, inflation revised higher in 1st quarter
Core consumer prices rose at 2.3% pace in past year
http://www.marketwatch.com/news/story/growth-inflation-revised-higher-1st/story.aspx?guid=%7BAF34BA5E%2DF1D2%2D48D5%2DA99D%2D2F8D7E2C24E9%7D

WASHINGTON (MarketWatch) - U.S. economic growth in the first quarter was a little bit stronger than previously believed, but so was inflation, the Commerce Department reported Thursday.

The U.S. economy grew at a 0.7% real annual pace in the first three months of the year, the slowest pace in four years, compared with the 0.6% estimate reported last month. Final sales increased 1.7% annualized, a tenth better than last month's estimate.

Core consumer prices rose at a 2.4% annual pace in the quarter, revised up from a 2.2% pace previously reported. Core prices - which exclude food and energy -- are up 2.3% in the past year, revised up from 2.2% earlier. The upward revision was due to higher physician services prices.

The revision puts core inflation further above the Federal Reserve's unofficial target range of 1% to 2% as of the end of March. The earlier figures had core inflation falling to 2% at the end of April, leading some analysts to suggest that the Fed could lessen its alert level on inflation slightly in its announcement later Thursday.



Read more: http://www.marketwatch.com/news/story/growth-inflation-revised-higher-1st/story.aspx?guid=%7BAF34BA5E%2DF1D2%2D48D5%2DA99D%2D2F8D7E2C24E9%7D
Printer Friendly | Permalink |  | Top
roamer65 Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jun-28-07 12:33 PM
Response to Original message
1. The Fed is now hamstrung.
I expect Bernanke will stall as long as he can and not change interest rates. It will just postpone the "day of reckoning".
Printer Friendly | Permalink |  | Top
 
Barrett808 Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jun-28-07 12:34 PM
Response to Original message
2. 0.7% is still a growth recession
Q2 numbers should be interesting.
Printer Friendly | Permalink |  | Top
 
David__77 Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jun-28-07 04:36 PM
Response to Original message
3. Wow...
At this rate, it won't even be a decade before China overtakes the US as the world's largest economy, if we use GDP(PPP) as our standard of wealth, as we should.
Printer Friendly | Permalink |  | Top
 
DU AdBot (1000+ posts) Click to send private message to this author Click to view 
this author's profile Click to add 
this author to your buddy list Click to add 
this author to your Ignore list Thu Oct 31st 2024, 06:34 PM
Response to Original message
Advertisements [?]
 Top

Home » Discuss » Latest Breaking News Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators


Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC