Q2 GDP revised higher to 4.2% growth


GDP Q2: +4.2% vs. +3.9% expected, +4% previous estimate.

Comments (14)
  • bbro
    , contributor
    Comments (11234) | Send Message
     
    Y-o-Y Nominal GDP growth 4.2%...10 yr treasury 2.34%...Baa corporate yield 4.65%
    28 Aug 2014, 10:03 AM Reply Like
  • Matthew Davis
    , contributor
    Comments (4747) | Send Message
     
    Bbro,

     

    Um noooo...4.2% second quarter - minus negative the First quarter 3% we are at 1.2%.
    28 Aug 2014, 10:43 AM Reply Like
  • bbro
    , contributor
    Comments (11234) | Send Message
     
    Um Yeeeesssss...Y-o-Y ( which means year over year)....2nd qtr 2013
    16.619 trillion....2nd qtr 2014 17.311 trillion.....17.311/16... = 4.16%
    Nominal GDP growth year over year...The Nominal Gross Domestic Product measures the value of all the goods and services produced expressed in current prices.

     

    10 year treasury and Baa corporate yield are quoted in nominal terms.
    28 Aug 2014, 11:13 AM Reply Like
  • Matthew Davis
    , contributor
    Comments (4747) | Send Message
     
    Sure, two snap backs from two quarters because last year and the year before were harsh winters. You want to cherry pick good data to suit your Obama is a genius narrative.
    28 Aug 2014, 12:58 PM Reply Like
  • Civilization Type 1
    , contributor
    Comments (2888) | Send Message
     
    Another fool who thinks everything is political.
    28 Aug 2014, 01:42 PM Reply Like
  • Petrarch
    , contributor
    Comments (1169) | Send Message
     
    Matthew, who said anything about Obama?
    4.2% real GDP growth is pretty good.
    And not flashing recession
    Don't you agree?

     

    P
    28 Aug 2014, 06:56 PM Reply Like
  • Matthew Davis
    , contributor
    Comments (4747) | Send Message
     
    Petrarch

     

    Its not flashing recession. However, 4.2% subtracted by previous quarter results prove that overall the economy is still within the margin of error in terms of recession. If Q3 falls below 1.3% GDP, we will be negative for YTD.

     

    How Bbro celebrates a one off of 4.2% as if to paint the picture that the economy is actually growing at that rate...he implies it. Don't go popping confetti until we see Q3. There is a big hinge on that number, why do you think bonds and stocks are tugging back and forth so much? Both are doing very well.
    29 Aug 2014, 07:08 PM Reply Like
  • Topcat
    , contributor
    Comments (580) | Send Message
     
    Effect of harsh winter weather, then catch up because of the resulting pent up demand in 2Q. Just as many experts at the time expected. But many here scoffed at the weather "excuse". Quiet now I see.
    28 Aug 2014, 12:05 PM Reply Like
  • Matthew Davis
    , contributor
    Comments (4747) | Send Message
     
    Topcat,

     

    The experts were right for a change. Pent up demand, and 3Q is looking anemic as well. Just good enough, and that is good enough for Bbro to act like its a huge deal.
    28 Aug 2014, 12:59 PM Reply Like
  • Macro Investor
    , contributor
    Comments (9252) | Send Message
     
    What? I thought we were supposed to revise down the GDP number because a crash is overdue.
    28 Aug 2014, 02:13 PM Reply Like
  • David at Imperial Beach
    , contributor
    Comments (4381) | Send Message
     
    Obviously not everybody got the news.

     

    But with such robust growth, you'd think economy would need a little iron for steel here and there. http://seekingalpha.co...

     

    My personal opinion is that the US BEA lost all credibility in Q1. And I'm pretty sure that the economy did not magically jump 6.3% from -2.1 to +4.2 in only one quarter. If so, where's all the robust activity? The news release at the BEA claims that we would have done even better but they had to subtract more for imports. But wait! It's all seasonally adjusted. So it's all smoke and mirrors. Move along. Nothing to see here.
    28 Aug 2014, 03:34 PM Reply Like
  • Civilization Type 1
    , contributor
    Comments (2888) | Send Message
     
    Notice your link says "global." The US is not the entire world.
    28 Aug 2014, 03:50 PM Reply Like
  • Macro Investor
    , contributor
    Comments (9252) | Send Message
     
    I agree David. We all know that the end is nigh so how can the GDP be growing?
    29 Aug 2014, 12:45 AM Reply Like
  • bbro
    , contributor
    Comments (11234) | Send Message
     
    "And I'm pretty sure that the economy did not magically jump 6.3% from -2.1 to +4.2 in only one quarter."

     

    "pretty sure" does that apply to the expenditure approach and the income approach?
    28 Aug 2014, 03:55 PM Reply Like
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