Economy Grew at 3 Percent Pace in Q4 2011
EmailReal gross domestic product increased at an annual rate of 3 percent in the fourth quarter of 2011, the Commerce Department reported in its revised estimate on Wednesday, the highest since the second quarter of 2010.
The Bureau of Economic Analysis revised the figure higher from the 2.8 percent it reported on Jan. 27.
The change in estimate reflected higher nonresidential fixed investment, such as new factories, and fewer imports. Additional personal consumption expenditures were in the revised figure, which was already a large component in the first estimate and had accelerated from third-quarter growth.
Real GDP, the output of goods and services produced in the U.S., increased at a revised annual rate of 1.8 percent in the third quarter.
A strong holiday retail season helped consumption in the fourth quarter on rising sales of computers and motor vehicles.
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Sounds like more “cooked” books with the report yesterday manufacturing was down 4% the largest decrease in four years.
Posted by: John | February 29, 2012, 11:24 am 11:24 am
Nope, can’t be true. The GOP plan for this year’s election does not call for any good economic news. So it must be a made-up number. Haaa.haaa.haaa, GOP, unemployment is going down each month, growth is increasing each quarter, and the stock market has topped 13,000 (double what it was in January 2009). So, what’s your excuse going to be now?
Posted by: Bob | February 29, 2012, 11:24 am 11:24 am
Ok so if we are spending at 100% of GDP how many years will it take to get out of the Obama quagmire?
Posted by: Jo | February 29, 2012, 11:54 am 11:54 am
” GOP, unemployment is going down each month, growth is increasing each quarter, and the stock market has topped 13,000 (double what it was in January 2009). So, what’s your excuse going to be now?” No excuse at all – note that this recovery year has been happening with a GOP House having some control over rampant “stimulus” spending, as opposed to the two years of spending and stagnation with Democratic majorities in both house of Congress.
Posted by: MyTake | February 29, 2012, 12:36 pm 12:36 pm
One step forward and two back. The increasing fuel prices have wipe out all of the atta-boys!!
Posted by: Common _ Sense | February 29, 2012, 12:43 pm 12:43 pm
…note that this recovery year has been happening with a GOP House having some control over rampant “stimulus” spending, as opposed to the two years of spending and stagnation with Democratic majorities in both house of Congress. Posted by: MyTake | February 29, 2012, 12:36 pm
LOL! Wow, talk about SPIN! What, specifically, has the House that Boehner Built done in the 13 months they have been in power? Besides debate a half a dozen anti-abortion bills and re-affirm what our national motto is. The Stimulus was done in 2009. Your very lame excuses are, well……….very lame! And please tell us exactly how government spending causes the economy to remain bad? Or how CUTTING government spending stimulates the economy? You Righties are hilarious.
Posted by: Disgusted with gop | February 29, 2012, 1:56 pm 1:56 pm
One step forward and two back. The increasing fuel prices have wiped out all of the atta-boys!! Posted by: Common _ Sense | February 29, 2012, 12:43 pm.
But on the plus side, Exxon, and the speculators on Wall Street, are making RECORD profits due to the high price of gas. Gee, is it POSSIBLE that the price of gas is high BECAUSE oil companies and commodities futures traders WANT to make record profits? Could it really be that simple? No, it must be Obama’s fault…..
Posted by: Disgusted with gop | February 29, 2012, 1:59 pm 1:59 pm
Disgusted with GOP (aka XRBOB) – “What, specifically, has the House that Boehner Built done in the 13 months they have been in power?” Put an end to the playact overspending that did NOTHING for two yearsother than add trillions to the deficit and put an end to two years of one-party government, giving businesses some confidence they wouldn’t be taxed into the stone age for succeeding. The very fact that things are recovering without massive government intervention proves just how useless the placebo spending really was.
Posted by: MyTake | February 29, 2012, 3:25 pm 3:25 pm
MyTake | February 29, 2012, 3:25 pm post —– LOL! In other words he did NOTHING! He didn’t “end” anything, he simply refuses to DO anything! Except argue anti-abortion bills – SIX of them at last count – and spend a day talking about reaffirming our national motto. He is the MOST do-nothing Speaker in recent history. The REALITY is taxes are lower today than ever before. Obama just proposed a reduction – a REDUCTION – in the corporate tax rate. Has Boehner created the policy for that? Of course not! Any bill that impacts the budget MUST originate in the House, by law. Boehner apparently doesn’t know that. He is bad at his job, and the recovery is happening DESPITE his best efforts, not because of them. And I’m still waiting for an answer to how government spending causes the economy to remain bad, or how CUTTING government spending stimulates the economy or private sector job growth.
Posted by: Disgusted with gop | February 29, 2012, 4:56 pm 4:56 pm
Disgusted with GOP (aka XRBOB) —— Sorry, pal, you have me confused with someone else.
Posted by: Disgusted with gop | February 29, 2012, 4:57 pm 4:57 pm
“In other words he did NOTHING! He didn’t “end” anything, he simply refuses to DO anything!” You mkight say that putting an end to unnecessary government spending and forcing the other party to make good on empy promises of biparisanship is nothing, but then again what has the left to offer other than empty talk about compensatory non-solutions, borrow to spend on needless and ineffrective stimulus and green energy programs, and tax the rich to cover their losses? As to doing nothing, what about “Democrats will not vote for it” Reid and his Senate posse who even after the 2010 elections clearly showed clearly showed that the country had had enough of the party in power’s incompetence still didn’t to get the messsage and refused to allow discussion on or even present bills passed by and sent them by the House for MONTHS?
Posted by: MyTake | February 29, 2012, 6:04 pm 6:04 pm
So why doesn’t do something about all of this greedy corporate oil companies and futures speculators? We’re hurting out here fearless leader.
Posted by: newcountryman | February 29, 2012, 6:40 pm 6:40 pm
NEWCOUNTRYMAN | FEBRUARY 29, 2012, 6:40 PM…..” We’re hurting out here fearless leader.”…..He too busy counting his political contributions from Wall St! How many Wall St exec have been charged, much less convicted for their part in the collapse)? At least undser Reagfan, some of the S&L execs went to jail and others found guilty.
Posted by: deanbob | March 1, 2012, 9:11 am 9:11 am
Even ex pres Bill Clinton (not tied to politics) sees the value and benefits of the Keystone Pipeline – jobs and more oil in the US.
Posted by: deanbob | March 1, 2012, 9:15 am 9:15 am
TAPPER: Another energy company that took a significant loan — accepted a significant loan from the Obama administration, Abound Energy, announced it would be laying off some workers.
Posted by: deanbob | March 1, 2012, 9:23 am 9:23 am