Economy Grows at Solid 4.1 Percent Pace

[Freddie Stubbs]

hour, 5 minutes ago

By JEANNINE AVERSA, Associated Press Writer

WASHINGTON - America's economic recovery ended 2003 on a good note, growing at a solid 4.1 percent annual rate, and is expected to do even better in the opening quarter of this year.

The latest reading on gross domestic product for the October-to-December quarter was the same as a previous estimate made a month ago, the Commerce Department (news - web sites) reported Thursday. That was consistent with economists' forecasts.

GDP (news - web sites) measures that value of all goods and services produced within the United States and is considered the most important barometer of the economy's health.

Economic growth in the current January-to-March quarter is expected to clock in at a rate of 4.5 percent, according to some analysts' forecasts. Growth in the April-to-June quarter also should be around that pace, they said.

more: http://story.news.yahoo.com/news?tmpl=story&cid=668&ncid=749&e=6&u=/ap/20040325/ap_on_bi_go_ec_fi/economy

[historian]

1. oh really?

Im sure the eternally unemployed will be relieved to hear that. Besides, govt stats are always suspect and are irrelevant as far as im concened. The numbers will look rosier and rosier till november then its back to reality

[htuttle]

2. According to those commies at Goldman Sachs, this is untrue

U.S. Economy Recovering at Only Half Official Rate, Research Shows
http://www.miami.com/mld/miamiherald/business/national/8258155.htm

Mar. 21 - America's buoyant economic recovery could largely be a statistical illusion, according to research released this weekend.

Last year's growth may be half the official figure, which would explain the lack of job creation which is damaging President Bush's re-election chances.

A growing number of discrepancies are emerging in America's economic numbers, including a dramatic over-estimation of manufacturing output. The latest analysis from Goldman Sachs suggests that the US economy may have grown by only about 2.2 percent in the year to the fourth quarter of 2003, considerably less than the official 4.3 percent.

Jan Hatzius, a senior economist at Goldman Sachs, has added his voice to a growing band who believe that the growth figures are overstating the true recovery of the US economy. Errors in calculating manufacturing output and income growth explain why unemployment, on all measures, has consistently disappointed the markets in recent months, the research claims.

(much more at link)

[Exultant Democracy]

4. This kind of distraction is vintage BushCo.

[daleo]

6. Interesting article

Well worth reading, especially the part about 'hedonic pricing'.

[Skittles]

9. of course it is all a lie

does the economy FEEL solid? It's all bullshit.

[leftchick]

12. every stinkin statistic bushco* has produced...

has been an illusion...

[w4rma]

15. "dramatic over-estimation of manufacturing output"

I believe that McDonalds and Burger King are now considered to be manufacturing (burgers/fries) for GOP propaganda purposes.

[LynzM]

16. I was going to link that

Thanks for being on the ball!

[0007]

17. Thanks for the link -

The only thing growing is junior's nose, it sure as hell isn't Dick Cheney's joint with all that heart medication going into his fat gut.

Bob has grown a lot lately - see the big smile on Bob's kisser when he blows his suit in the pool and comes out with nothing on, exhibiting nothing but his foot and a half Rodney

[okieinpain]

18. now honest to god this is what the true numbers seem like to me

I've got relatives in georgia, florida, arizona, and cali. and not a one of them is talking about how great the job market is. so how in the hell can we have a growth rate of 4.1 percent but there are no jobs.


and when I say jobs I don't mean taco bell.

[mhr]

3. Unemployed 46 Months, Which Economy Could One Be Talking About?

I'd sure like to know!

[daleo]

5. And yet, still no jobs

Something doesn't seem right somewhere.

[Blue_Roses]

7. the only possible explanation for this

would be income tax refunds which is only short term. With no jobs being created, it still doesn't make it a "recovery," which is necessary for it be a full recovery.

More propaganda from this administration.

[UpInArms]

8. these numbers are so cooked

that they have lost all credibility.

Arthur Andersen has been the training ground for this mal-administration and its accounting. The corporate accounting scandal was based mostly in the fact that the accountants were getting the books to come out "as the market expected" numbers - and here is a great example just today of that type of crap:

http://finance.yahoo.com/mo

the economic news was good, but in line with expectations...new claims were up 1,000 to 339,000 in the week ended March 20, but that is a low level and the level of those drawing benefits fell 46,000...the Existing Home Sales report showed a 2% increase for February, exactly as expected...

and fourth quarter GDP was unrevised at a 4.1% annual rate...oil prices are significantly lower today amidst talk that OPEC might not implement production cuts...

Everything is coming up roses, but those roses are growing in an ever increasing pile of shit.

[DiverDave]

10. Liars!

The only people making out in this economy are the ones with ALOT of stocks.

[JCMach1]

11. Don't believe it... Dubai/UAE is growing at just under 4%

and it is an absolute boom here.

The US economy is not growing that much... SORRY but TRUE

[teryang]

13. Nonsense

This figures are crap and everyone knows except for the morons buying stocks today.

[rawstory]

14. You sound like Drudge

This reminds me of the story Drudge ran when the job growth was worse than expected. Instead of saying "worse than expected" he said whatever the pittance of jobs was. If you want to get the REAL liberal headlines on such stories, you should check out The Raw Story, at http://www.rawstory.com.

[toodles_oduff]

19. Great site! Thanks for the tip!

How long has it been around by the way?

[tlcandie]

20. You know, not to take anything from our poor state here in the US

but on Link TV's DW Journal tonight I saw an article about Germany's econmic status and it almost mirrors ours. VERY ODD and interesting! The people in their parliment clapped when someone stood up and told Shroeder that she didn't know what world he was living in but it certainly wasn't reality. PLUS, they are outsourcing jobs like here in the US.

How can this be? Has the whole First World countries bought into this? If so, the saying that those who were first will be last and those who were last first, may soon become a reality!