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Whoever has given up posting this economic news as it has gotten so depressing for Progressives. EIGHT YEARS of anemic, lower than 3% growth. Longer than any other president. Progressives celebrate!
BEA: 2016 GDP growth worst since 2011, dives a full point from 2015
POSTED AT 9:21 AM ON JANUARY 27, 2017 BY ED MORRISSEY
Remember this fall when Barack Obama insisted that American economic growth was the envy of the world? In 2016, not so much. After a better-than-expected third quarter, growth dropped back down into the stagnation range in the fourth quarter, according to the BEA’s initial estimate:
Real gross domestic product (GDP) increased at an annual rate of 1.9 percent in the fourth quarter of 2016 (table 1), according to the “advance” estimate released by the Bureau of Economic Analysis. In the third quarter, real GDP increased 3.5 percent. …
The deceleration in real GDP in the fourth quarter reflected a downturn in exports, an acceleration in imports, a deceleration in PCE, and a downturn in federal government spending that were partly offset by an upturn in residential fixed investment, an acceleration in private inventory investment, an upturn in state and local government spending, and an acceleration in nonresidential fixed investment.
Even Q4’s annualized growth of 1.9% actually outperformed the year. CNN noted that 2016’s 1.6% growth qualifies it as the worst in five years:
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CNNMoney ✔ @CNNMoney
U.S. economy slowed in the fourth quarter. For all of 2016, growth was 1.6%, weakest since 2011. http://cnnmon.ie/bkgnews
8:37 AM - 27 Jan 2017
http://hotair.com/archives/2017/01/27/bea-2016-gdp-growth-worst-since-2011-dives-a-full-point-from-2015/
BEA: 2016 GDP growth worst since 2011, dives a full point from 2015
POSTED AT 9:21 AM ON JANUARY 27, 2017 BY ED MORRISSEY
Remember this fall when Barack Obama insisted that American economic growth was the envy of the world? In 2016, not so much. After a better-than-expected third quarter, growth dropped back down into the stagnation range in the fourth quarter, according to the BEA’s initial estimate:
Real gross domestic product (GDP) increased at an annual rate of 1.9 percent in the fourth quarter of 2016 (table 1), according to the “advance” estimate released by the Bureau of Economic Analysis. In the third quarter, real GDP increased 3.5 percent. …
The deceleration in real GDP in the fourth quarter reflected a downturn in exports, an acceleration in imports, a deceleration in PCE, and a downturn in federal government spending that were partly offset by an upturn in residential fixed investment, an acceleration in private inventory investment, an upturn in state and local government spending, and an acceleration in nonresidential fixed investment.
Even Q4’s annualized growth of 1.9% actually outperformed the year. CNN noted that 2016’s 1.6% growth qualifies it as the worst in five years:
Follow
CNNMoney ✔ @CNNMoney
U.S. economy slowed in the fourth quarter. For all of 2016, growth was 1.6%, weakest since 2011. http://cnnmon.ie/bkgnews
8:37 AM - 27 Jan 2017
http://hotair.com/archives/2017/01/27/bea-2016-gdp-growth-worst-since-2011-dives-a-full-point-from-2015/