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Topic: US economy shrinks a surprise
0.1% in fourth quarter |
US economy shrinks a surprise
0.1% in fourth quarter
BBC [UK], by Staff
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Original Article
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Posted By:Attercliffe, 1/30/2013 11:13:38 AM
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| The US economy unexpectedly shrank at an annualised rate of 0.1% in the fourth quarter of 2012, initial official estimates indicate. If confirmed, it would be the first contraction logged by the US economy since the 2009 global recession. The world´s largest economy grew 3.1% in July to September. The fourth quarter period was dominated by the "fiscal cliff"--the spending cuts and tax rises that had been due to come into force from 1 January. These were avoided by a last-minute deal between the Republican-dominated Congress and the White House. However, economists warned at the time that
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Comments:
How many of you think it will be revised to higher than 0.1%?
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Reply 1 - Posted by:
Question_Assumptions, 1/30/2013 11:19:29 AM (No. 9148482)
How many times does someone need to be "surprised" by news like this before they lose all credibility on economic matters? Are they also surprised that water is wet, fire is hot, and ice is cold?
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Reply 2 - Posted by:
lylacat, 1/30/2013 11:21:20 AM (No. 9148489)
And the ignorant democrats are saying this is a really good shrinkage; the best one they have seen. What is wrong with these people? Why can´t they pass a viable budget and just stop spending? The arrogance of the dem´s is appalling.
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Reply 3 - Posted by:
chicodon, 1/30/2013 11:22:20 AM (No. 9148492)
Not to worry. It´s the new norm.
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Reply 4 - Posted by:
Grambo, 1/30/2013 11:26:08 AM (No. 9148506)
Unexpectedly.
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Reply 5 - Posted by:
King of all trolls, 1/30/2013 11:27:29 AM (No. 9148508)
And on the news the DOW is up 350pts...
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Reply 6 - Posted by:
wilarrbie, 1/30/2013 11:30:24 AM (No. 9148518)
Media works overtime like a cat in the litter box covering the unpleasantness of Obamas´ economic failures. When the stink rises to nostrils of inevitability - they are stunned by "Unexpected" bad results.
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Reply 7 - Posted by:
uno, 1/30/2013 11:40:15 AM (No. 9148552)
#2 - Ignorance? Nope. They know full well what they´re doing. It´s deliberate. The ignorance is on the part of their dependent voter base.
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Reply 8 - Posted by:
horacer, 1/30/2013 11:45:41 AM (No. 9148558)
The spin is going to be unbearable. A lot of economic activity was moved up because of the fiscal cliff. Fear of higher taxes and elimination of tax credits. That activity would have taken place 1st QTR of this year, not now. And still we have a report that´s horrid. Exports tanked. Personal spending over the holidays flatlined. If you read Market-Ticker this wasn´t unexpected.
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Reply 9 - Posted by:
Topic Thunder, 1/30/2013 12:05:00 PM (No. 9148592)
You vote to destroy the economy and, what a surprise, it gets destroyed.
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Reply 10 - Posted by:
strike3, 1/30/2013 12:10:53 PM (No. 9148602)
When you see the price of a gallon of gasoline go from 2.95 to 3.65 in the same month, you know she´s about to blow. I don´t know how the government has kept the lid on things this long. Well, yes I do, constant lies fed to the national propaganda tool known as the MSM. Joseph Goebbels would be proud.
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Reply 11 - Posted by:
dman, 1/30/2013 12:12:54 PM (No. 9148607)
Now that the election is over ..
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Reply 12 - Posted by:
Mr. Hanky, 1/30/2013 12:22:04 PM (No. 9148629)
"Unexpectedly"
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Reply 13 - Posted by:
sw penn, 1/30/2013 12:37:23 PM (No. 9148665)
Isn´t it marvelous
to live in a country that allows you
to actually vote between the
quick national suicide of the big government communist democrats
and
the slow national suicide of the big government socialist republicans?
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Reply 14 - Posted by:
NYBruin, 1/30/2013 12:40:33 PM (No. 9148673)
Imagine the difference in this story had Romney been elected. He would be dubbed the 21st Centruty´s Herbert Hoover for starters. . .
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Reply 15 - Posted by:
pictish, 1/30/2013 2:21:50 PM (No. 9148856)
Only the "learned Intellegensia" are surprised that a continued suppression of the rights of the people cause just such a result. Also I won´t be surprised if the estimate gets lowered next month.
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