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Us gdp 3.5% q3
StevieJ
Posts: 20,174 Forumite
US GDP grows at 3.5% on annual basis beating expectations.
http://www.bloomberg.com/apps/news?pid=20601087&sid=a_bD4gJ8o4wc
http://www.bloomberg.com/apps/news?pid=20601087&sid=a_bD4gJ8o4wc
'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher
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Succesful stimulus plan then.
I just wonder what the figures may show next quarter, as apparently car manufacturers are reporting steep drops in sales atfer the "cash for clunkers" came to an end.
The problem now, is how do they maintain, or encourage, real economic growth.0 -
US GDP grows at 3.5% on annual basis beating expectations.
http://www.bloomberg.com/apps/news?pid=20601087&sid=a_bD4gJ8o4wc
It's a pretty amazing turnaround.
For the US (and the UK too) the interesting bit for me for a while has been what is the route from recession to normality? How do Governments finance the huge deficits that have been run up without crowding out domestic investment? How can Central Banks keep selling on Government debt while keeping base rates low?0 -
Well the FTSE likes it, shot up 60 points.0
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The Pound likes it too... trading at 1.6570
(1.6450 before data)Please take the time to have a look around my Daughter's website www.daisypalmertrust.co.uk
(MSE Andrea says ok!)0 -
Only a slight beat on the consensus (+3.2%) but stocks rallied thanks to Goldman Sachs' downgraded estimate yesterday (+2.7% from +3%) lowering expectations. The same Goldman report noted that second half 2010 is likely to see a slowdown in GDP growth due to the withdrawal of stimulus and change in inventory cycle (together adding 4% to GDP).
Governments can finance deficits for a while longer by imposing government debt holdings upon financial institutions. This effectively taxes bank customers, pensions and life assurance policies (mentioned on this board months ago and now monikered "crypto-QE").
PS.The Fed ends its purchase of US treasuries today."The state is the great fiction by which everybody seeks to live at the expense of everybody else." -- Frederic Bastiat, 1848.0 -
It's good to have the economy growing again," said Brian Bethune, economist at IHS Global Insight.
"But we don't think that rate of growth is sustainable because it is distorted by all the government stimulus.
"The challenge here is to get organic growth - growth that isn't helped by fiscal steroids
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'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0
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BBC said it was +0.9% for the quarter in isolation. Pretty impressive, but its only sensible to examine the sustainability.
Bloomberg link says -3.8% in 12 months to June. Our drop was -5.5% in the same timescale. Not sure its quite the same method, though.
The really important question;
Who told the BBC they have to change from RED = BAD...???
But red is ok for the US, in all circumstances...???
Pinko-BBC-liberalites...0 -
According to the bears, the UK follow the US by 6 months - so this is good news for everyone.
Cannon - what has graph colours got do with anything? it just makes you sound desperate mate.0
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