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US economy ground to a halt in 3d quarter

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Posted By: Moritz55, 10/28/2021 8:51:57 PM

Net of inventory accumulation, real GDP for the third quarter was slightly negative, US government data released Thursday morning show. Real GDP grew at an annual rate of 2%, below the forecasters’ consensus of 2.6%, the Commerce Department reported. But a jump in inventories added 2.07 percentage points annualized to GDP. That’s more than the reported growth. That’s a very odd number, considering that the inventory-to-sales ratio of US business stands at the lowest level on record, due to supply-chain constraints that prevent businesses from restocking. It’s likely that the inventory number was exaggerated. If that’s true, the US economy shrank during the third quarter.

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Reply 1 - Posted by: Illinois Mom 10/28/2021 9:18:30 PM (No. 960200)
Just like under Obama only about eight months earlier. We lost everything we had ever worked for under Obama, we clawed our way back and got a super boost during the four years of Trump. I'm now thirteen years older. I don't think that I will survive a second time
12 people like this.

Reply 2 - Posted by: Urgent Fury 10/28/2021 9:19:38 PM (No. 960202)
Halt? Really? Why?
2 people like this.

Reply 3 - Posted by: Dodge Boy 10/28/2021 9:25:36 PM (No. 960204)
With 11 million job openings out there, net negative growth makes sense.
8 people like this.

Reply 4 - Posted by: bighambone 10/28/2021 10:32:59 PM (No. 960233)
This morning in his latest teleprompter reading Biden had nothing to say about the current US economy and the ongoing very serious situations now effecting the country, his reading was all about his proposed massive social spending that almost nobody wants.
5 people like this.

Reply 5 - Posted by: NorCaliInfidel 10/28/2021 10:56:37 PM (No. 960241)
But our Secretary of Transportation got his two-month paternity leave!
5 people like this.

Reply 6 - Posted by: GoodDeal 10/29/2021 12:19:19 AM (No. 960267)
It terrific when a plan to fundamentally destroy the country comes together.
5 people like this.

Reply 7 - Posted by: DVC 10/29/2021 1:31:24 AM (No. 960287)
Traitor Joe, furiously destroying the economy of the whole country, with the help of his evil minions in the Demonrat controlled states.
4 people like this.

Reply 8 - Posted by: NotaBene 10/29/2021 2:43:28 AM (No. 960298)
Recession and inflation ! We are the new Argentina.
2 people like this.

Reply 9 - Posted by: Strike3 10/29/2021 4:07:41 AM (No. 960333)
Joe is blaming it all on COVID and his supporters are just dumb enough to go along with that. Those unvaxxed Americans are killing us.
1 person likes this.

Reply 10 - Posted by: Lazyman 10/29/2021 7:40:05 AM (No. 960416)
This should cause the stock market to double,
0 people like this.

Reply 11 - Posted by: TCloud 10/29/2021 7:48:03 AM (No. 960424)
Obama/Biden best GDP was 1.7%.
3 people like this.

Reply 12 - Posted by: udanja99 10/29/2021 8:00:16 AM (No. 960437)
Let’s Go Brandon!
6 people like this.

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