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U.S. GDP growth beats estimates

Today's Financial News - Posted August 28, 2008

Just as TFN had predicted, strategically timed stimulus handouts created a boost in American GDP that will place a technical recession squarely into the next presidential term. Even better, since the Democrats’ economic plan relies heavily on government redistribution of private property, they can’t even question the validity of this growth without undermining their own position.

by Courtney Schlisserman
Baltimore — (TFN): The U.S. economy expanded at a faster pace than previously estimated in the second quarter, helped by surging exports and a smaller decline in inventories.

The 3.3 percent annualized increase in gross domestic product from April through June was higher than forecast and compares with an advance estimate of 1.9 percent issued last month, the Commerce Department said today in Washington. The economy grew 0.9 percent in the first quarter.

Record exports and the temporary stimulus from the tax rebates prevented the economy from stalling as housing slumped and companies cut expenditures. Consumer spending is now waning and slower growth abroad dims the outlook for foreign sales, signaling last quarter will be the year’s highpoint.

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Posted by J. Christoph Amberger · Filed Under Politics 

Comments

2 Responses to “U.S. GDP growth beats estimates”

  • tfn Says:
    September 8th, 2008 at 2:40 pm

    Of course, if you believe foreign economies have “decoupled” from the US, I may have waterfront property with view of that particular bridge…

  • MIkey Says:
    September 4th, 2008 at 1:36 pm

    if you think the US actually grew at a 3.3% pace, I have a bridge to sell you

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