2015 Q4 GDP (first estimate): +0.7%

Consumer spending is the central driver of the economy but is slowing, at least it was during the fourth quarter when GDP rose only at a 0.7 percent annualized rate. Final demand rose 1.2 percent, which is the weakest since first quarter last year but is still 5 tenths above GDP.

Spending on services, adding 0.9 percentage points, was a leading contributor to the quarter as was spending on goods, at plus 0.5. Residential investment, another measure of consumer health, rose very solidly once again, contributing 0.3 percentage points. Government purchases added modestly to growth.

The negatives are on the business side especially those facing foreign markets. Net exports pulled down GDP by 0.5 percentage points. Non-residential investment pulled down GDP by more than 0.2 percentage points. Reduction in inventory investment, which the FOMC warned about on Wednesday, pulled the quarter down by 0.5 percentage points.

Price data are not accelerating, at plus 0.8 percent for the GDP price index which is the lowest reading since plus 0.1 in the first quarter last year. The core price reading is only slightly higher, at plus 1.1 percent which is also the weakest reading in a year.

There are definitely points of concern in this report, especially the weakness in exports and business investment, but it's the resilience in the consumer, despite a soft holiday season, that headlines this report and should help confirm faith in the domestic strength of the economy.

SheWrites wrote:With a slow buying season in the traditional holiday quarter, maybe this means people are finding better ways to celebrate and give.  One can hope.  I don't think it indicates people do not have the money to spend.  I think it's the choice of how they spend.

I had to familiarize myself with US exports.  Decent site for a refresher:
http://www.worldsrichestcountries.com/top_us_exports.html

Our top exports to Switzerland are pretty interesting:

America’s exports to Switzerland amounted to
$22.7 billion or 1.4% of its overall exports.

 1. Gems, precious metals, coins: $11 billion
 2. Pharmaceuticals: $2.3 billion
 3. Collector items, art, antiques: $2.3 billion

Markle wrote:This has been out since last week.  I guess BoardsofFL was screwing up the courage to start a thread on the meager growth of this economy.

An annual average of 3% is a good rate of growth.  Not too high, not too low.

Then we have the current economy of Lame Duck President Obama.  

Markle wrote:

SheWrites wrote:With a slow buying season in the traditional holiday quarter, maybe this means people are finding better ways to celebrate and give.  One can hope.  I don't think it indicates people do not have the money to spend.  I think it's the choice of how they spend.

I had to familiarize myself with US exports.  Decent site for a refresher:
http://www.worldsrichestcountries.com/top_us_exports.html

Our top exports to Switzerland are pretty interesting:

America’s exports to Switzerland amounted to
$22.7 billion or 1.4% of its overall exports.

 1. Gems, precious metals, coins: $11 billion
 2. Pharmaceuticals: $2.3 billion
 3. Collector items, art, antiques: $2.3 billion

As you should well know, that is not the case.  The average household had $3,000.00 less income last year.  The average income has gone down each year Lame Duck President Obama has been in the Oval Office.

SheWrites wrote:

Markle wrote:

SheWrites wrote:With a slow buying season in the traditional holiday quarter, maybe this means people are finding better ways to celebrate and give.  One can hope.  I don't think it indicates people do not have the money to spend.  I think it's the choice of how they spend.

I had to familiarize myself with US exports.  Decent site for a refresher:
http://www.worldsrichestcountries.com/top_us_exports.html

Our top exports to Switzerland are pretty interesting:

America’s exports to Switzerland amounted to
$22.7 billion or 1.4% of its overall exports.

 1. Gems, precious metals, coins: $11 billion
 2. Pharmaceuticals: $2.3 billion
 3. Collector items, art, antiques: $2.3 billion

As you should well know, that is not the case.  The average household had $3,000.00 less income last year.  The average income has gone down each year Lame Duck President Obama has been in the Oval Office.

You are doom and gloom.

SheWrites wrote:

Markle wrote:

SheWrites wrote:With a slow buying season in the traditional holiday quarter, maybe this means people are finding better ways to celebrate and give.  One can hope.  I don't think it indicates people do not have the money to spend.  I think it's the choice of how they spend.

I had to familiarize myself with US exports.  Decent site for a refresher:
http://www.worldsrichestcountries.com/top_us_exports.html

Our top exports to Switzerland are pretty interesting:

America’s exports to Switzerland amounted to
$22.7 billion or 1.4% of its overall exports.

 1. Gems, precious metals, coins: $11 billion
 2. Pharmaceuticals: $2.3 billion
 3. Collector items, art, antiques: $2.3 billion

As you should well know, that is not the case.  The average household had $3,000.00 less income last year.  The average income has gone down each year Lame Duck President Obama has been in the Oval Office.

You are doom and gloom.  

SheWrites wrote:You are doom and gloom.  

PkrBum wrote:

SheWrites wrote:

Markle wrote:

SheWrites wrote:With a slow buying season in the traditional holiday quarter, maybe this means people are finding better ways to celebrate and give.  One can hope.  I don't think it indicates people do not have the money to spend.  I think it's the choice of how they spend.

I had to familiarize myself with US exports.  Decent site for a refresher:
http://www.worldsrichestcountries.com/top_us_exports.html

Our top exports to Switzerland are pretty interesting:

America’s exports to Switzerland amounted to
$22.7 billion or 1.4% of its overall exports.

 1. Gems, precious metals, coins: $11 billion
 2. Pharmaceuticals: $2.3 billion
 3. Collector items, art, antiques: $2.3 billion

As you should well know, that is not the case.  The average household had $3,000.00 less income last year.  The average income has gone down each year Lame Duck President Obama has been in the Oval Office.

You are doom and gloom.  

.7 is not unicorns and rainbows... it's likely below inflation. Bofer should know that... if he were honest and objective.

ZVUGKTUBM wrote:

SheWrites wrote:You are doom and gloom.  

He is one of those Republicans who would happily accept a receding economy in 2016 if it would help GOP prospects in November.

boards of FL wrote:

PkrBum wrote:

SheWrites wrote:

Markle wrote:

SheWrites wrote:With a slow buying season in the traditional holiday quarter, maybe this means people are finding better ways to celebrate and give.  One can hope.  I don't think it indicates people do not have the money to spend.  I think it's the choice of how they spend.

I had to familiarize myself with US exports.  Decent site for a refresher:
http://www.worldsrichestcountries.com/top_us_exports.html

Our top exports to Switzerland are pretty interesting:

America’s exports to Switzerland amounted to
$22.7 billion or 1.4% of its overall exports.

 1. Gems, precious metals, coins: $11 billion
 2. Pharmaceuticals: $2.3 billion
 3. Collector items, art, antiques: $2.3 billion

As you should well know, that is not the case.  The average household had $3,000.00 less income last year.  The average income has gone down each year Lame Duck President Obama has been in the Oval Office.

You are doom and gloom.  

.7 is not unicorns and rainbows... it's likely below inflation. Bofer should know that... if he were honest and objective.

Let's pretend for a second that I know absolutely nothing about economics.  What is your point here?  When you say "it's likely below inflation", what do you actually mean?  What is it that you're suggesting here?

Markle wrote:

boards of FL wrote:

PkrBum wrote:

SheWrites wrote:

Markle wrote:

SheWrites wrote:With a slow buying season in the traditional holiday quarter, maybe this means people are finding better ways to celebrate and give.  One can hope.  I don't think it indicates people do not have the money to spend.  I think it's the choice of how they spend.

I had to familiarize myself with US exports.  Decent site for a refresher:
http://www.worldsrichestcountries.com/top_us_exports.html

Our top exports to Switzerland are pretty interesting:

America’s exports to Switzerland amounted to
$22.7 billion or 1.4% of its overall exports.

 1. Gems, precious metals, coins: $11 billion
 2. Pharmaceuticals: $2.3 billion
 3. Collector items, art, antiques: $2.3 billion

As you should well know, that is not the case.  The average household had $3,000.00 less income last year.  The average income has gone down each year Lame Duck President Obama has been in the Oval Office.

You are doom and gloom.  

.7 is not unicorns and rainbows... it's likely below inflation. Bofer should know that... if he were honest and objective.

Let's pretend for a second that I know absolutely nothing about economics.  What is your point here?  When you say "it's likely below inflation", what do you actually mean?  What is it that you're suggesting here?

The economy is in the toilet.

How's that?

PkrBum wrote:

SheWrites wrote:

Markle wrote:

SheWrites wrote:With a slow buying season in the traditional holiday quarter, maybe this means people are finding better ways to celebrate and give.  One can hope.  I don't think it indicates people do not have the money to spend.  I think it's the choice of how they spend.

I had to familiarize myself with US exports.  Decent site for a refresher:
http://www.worldsrichestcountries.com/top_us_exports.html

Our top exports to Switzerland are pretty interesting:

America’s exports to Switzerland amounted to
$22.7 billion or 1.4% of its overall exports.

 1. Gems, precious metals, coins: $11 billion
 2. Pharmaceuticals: $2.3 billion
 3. Collector items, art, antiques: $2.3 billion

As you should well know, that is not the case.  The average household had $3,000.00 less income last year.  The average income has gone down each year Lame Duck President Obama has been in the Oval Office.

You are doom and gloom.  

.7 is not unicorns and rainbows... it's likely below inflation. Bofer should know that... if he were honest and objective.

boards of FL wrote:

PkrBum wrote:

SheWrites wrote:

Markle wrote:

SheWrites wrote:With a slow buying season in the traditional holiday quarter, maybe this means people are finding better ways to celebrate and give.  One can hope.  I don't think it indicates people do not have the money to spend.  I think it's the choice of how they spend.

I had to familiarize myself with US exports.  Decent site for a refresher:
http://www.worldsrichestcountries.com/top_us_exports.html

Our top exports to Switzerland are pretty interesting:

America’s exports to Switzerland amounted to
$22.7 billion or 1.4% of its overall exports.

 1. Gems, precious metals, coins: $11 billion
 2. Pharmaceuticals: $2.3 billion
 3. Collector items, art, antiques: $2.3 billion

As you should well know, that is not the case.  The average household had $3,000.00 less income last year.  The average income has gone down each year Lame Duck President Obama has been in the Oval Office.

You are doom and gloom.  

.7 is not unicorns and rainbows... it's likely below inflation. Bofer should know that... if he were honest and objective.

Let's pretend for a second that I know absolutely nothing about economics.  What is your point here?  When you say "it's likely below inflation", what do you actually mean?  What is it that you're suggesting here?

boards of FL wrote:By a show of hands, who here places any stock Markle's subjective opinion about economic numbers?  Who here thinks Markle can even tell you how old he is without stopping to think about it?

Don't all raise your hands at once now.

PkrBum wrote:http://www.usinflationcalculator.com/inflation/current-inflation-rates/

The latest inflation rate for the United States is 0.7% through the 12 months ended December 2015 as published by the US government on January 20, 2016.

boards of FL wrote:

Markle wrote:

boards of FL wrote:

PkrBum wrote:

SheWrites wrote:

Markle wrote:

SheWrites wrote:With a slow buying season in the traditional holiday quarter, maybe this means people are finding better ways to celebrate and give.  One can hope.  I don't think it indicates people do not have the money to spend.  I think it's the choice of how they spend.

I had to familiarize myself with US exports.  Decent site for a refresher:
http://www.worldsrichestcountries.com/top_us_exports.html

Our top exports to Switzerland are pretty interesting:

America’s exports to Switzerland amounted to
$22.7 billion or 1.4% of its overall exports.

 1. Gems, precious metals, coins: $11 billion
 2. Pharmaceuticals: $2.3 billion
 3. Collector items, art, antiques: $2.3 billion

As you should well know, that is not the case.  The average household had $3,000.00 less income last year.  The average income has gone down each year Lame Duck President Obama has been in the Oval Office.

You are doom and gloom.  

.7 is not unicorns and rainbows... it's likely below inflation. Bofer should know that... if he were honest and objective.

Let's pretend for a second that I know absolutely nothing about economics.  What is your point here?  When you say "it's likely below inflation", what do you actually mean?  What is it that you're suggesting here?

The economy is in the toilet.

How's that?

In order for that to be true, we would at the very least need to be in a recession.   But we're not, are we?  We're having this very discussion within a thread whose subject is the very expansion - however slow in this particular observation - of our economy.   That is, the economy expanded in the fourth quarter of 2015.  The economy grew.

Now, I'm sure you would like to inject some choice subjective words in there, like "good", "average", or "bad".  Feel free.  By a show of hands, who here places any stock Markle's subjective opinion about economic numbers?  Who here thinks Markle can even tell you how old he is without stopping to think about it?

Don't all raise your hands at once now.

boards of FL wrote:

PkrBum wrote:http://www.usinflationcalculator.com/inflation/current-inflation-rates/

The latest inflation rate for the United States is 0.7% through the 12 months ended December 2015 as published by the US government on January 20, 2016.

But what is your point?  Let me help you out here.  We're having this conversation within a thread that I created today about the recent GDP numbers.  All I did was post a direct link to the actual GDP report.  Your response there is to tell me that I'm dishonest and that ".7 is not unicorns and rainbows... it's likely below inflation. Bofer should know that..."  That was your response.  My question to you was what on earth does that mean?   That is what I'm asking you, and your response is a random citation of the inflation rate?  

PkrBum, are you not able to simply state what your point was?  Are you not able to explain your opinion that I'm being dishonest by posting the GDP numbers?  Is this another one of those times where you make a vague, unintelligible statement, and then when asked to clarify, you run away?

I feel the need to restate everything again here.  Here is the conversation so far:


boards of fl: (insert GDP report)

PkrBum:  ".7 is not unicorns and rainbows... it's likely below inflation. Bofer should know that... if he were honest and objective."

boards of fl:  "What is your point?"

PkrBum:  (insert link to a website about inflation)

boards of fl:  "What is your point?"


PkrBum, can you simply state your point?  You realize that I really can't set the bar any lower for you, right?  I mean, if you can't even explain your own subjective beliefs...

Let me see if I can give you some help here in coming up with the words to explain the inflation part of your comment.  Did you mean to say that since our growth in GDP is roughly the same as our rate of inflation, we can therefor conclude that we didn't actually have any economic growth?  Instead, all we have is inflated numbers?  Is that what you're trying to say, PkrBum?  

boards of FL wrote:

boards of FL wrote:

PkrBum wrote:http://www.usinflationcalculator.com/inflation/current-inflation-rates/

The latest inflation rate for the United States is 0.7% through the 12 months ended December 2015 as published by the US government on January 20, 2016.

But what is your point?  Let me help you out here.  We're having this conversation within a thread that I created today about the recent GDP numbers.  All I did was post a direct link to the actual GDP report.  Your response there is to tell me that I'm dishonest and that ".7 is not unicorns and rainbows... it's likely below inflation. Bofer should know that..."  That was your response.  My question to you was what on earth does that mean?   That is what I'm asking you, and your response is a random citation of the inflation rate?  

PkrBum, are you not able to simply state what your point was?  Are you not able to explain your opinion that I'm being dishonest by posting the GDP numbers?  Is this another one of those times where you make a vague, unintelligible statement, and then when asked to clarify, you run away?

I feel the need to restate everything again here.  Here is the conversation so far:


boards of fl: (insert GDP report)

PkrBum:  ".7 is not unicorns and rainbows... it's likely below inflation. Bofer should know that... if he were honest and objective."

boards of fl:  "What is your point?"

PkrBum:  (insert link to a website about inflation)

boards of fl:  "What is your point?"


PkrBum, can you simply state your point?  You realize that I really can't set the bar any lower for you, right?  I mean, if you can't even explain your own subjective beliefs...

Let me see if I can give you some help here in coming up with the words to explain the inflation part of your comment.  Did you mean to say that since our growth in GDP is roughly the same as our rate of inflation, we can therefor conclude that we didn't actually have any economic growth?  Instead, all we have is inflated numbers?  Is that what you're trying to say, PkrBum?  

Well?

   Real gross domestic product -- the value of the goods and services produced by the nation’s economy less the value of the goods and services used up in production, adjusted for price changes -- increased at an annual rate of 0.7 percent in the fourth quarter of 2015, according to the
"advance" estimate released by the Bureau of Economic Analysis. In the third quarter, real GDP increased 2.0 percent.

PkrBum wrote:Lol... I hadn't even read this. Omy... I guess I have to concede that the economy grew at .7. Congratulations comrade.

Until the revision... amiright?

PkrBum wrote:.7 is not unicorns and rainbows... it's likely below inflation. Bofer should know that... if he were honest and objective.