General Discussion

Cattledog

(5,914 posts) Fri Jul 27, 2018, 06:26 PM Jul 2018

4.1% Get in line!

Obama

5.1% Q2 2014

4.9% Q3 2014

4.7% Q4 2011

4.5% Q4 2009

10 replies

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Highlight:

4.1% Get in line! (Original Post) Cattledog Jul 2018 OP

the Obama Years..... spanone Jul 2018 #1

Sigh. Crutchez_CuiBono Jul 2018 #2

IKR!! And the Traitor-in-Chief thinks he's entitled to a medal... what a Dotard!! InAbLuEsTaTe Jul 2018 #3

The 4.1% was a furious selloff of exportable goods due to the tariffs anyway Takket Jul 2018 #4

Those numbers are not correct oberliner Jul 2018 #5

The BEA makes revisions to past data sometimes. Make7 Jul 2018 #6

But look at this graphic from the BEA released earlier this year (2018) oberliner Jul 2018 #7

The revisions were part of today's news release. Make7 Jul 2018 #8

Wow - is that normal? oberliner Jul 2018 #9

I'm not sure. I never paid close enough attention. Make7 Jul 2018 #10

spanone

(135,823 posts)

1. the Obama Years.....

Reply to Cattledog (Original post)

Fri Jul 27, 2018, 06:27 PM

Jul 2018

Crutchez_CuiBono

(7,725 posts)

2. Sigh.

Reply to Cattledog (Original post)

Fri Jul 27, 2018, 06:37 PM

Jul 2018

InAbLuEsTaTe

(24,122 posts)

3. IKR!! And the Traitor-in-Chief thinks he's entitled to a medal... what a Dotard!!

Reply to Cattledog (Original post)

Fri Jul 27, 2018, 06:44 PM

Jul 2018

Takket

(21,560 posts)

4. The 4.1% was a furious selloff of exportable goods due to the tariffs anyway

Reply to Cattledog (Original post)

Fri Jul 27, 2018, 06:46 PM

Jul 2018

the number is meaningless.

oberliner

(58,724 posts)

5. Those numbers are not correct

Reply to Cattledog (Original post)

Fri Jul 27, 2018, 06:51 PM

Jul 2018

For one thing, the third quarter of 2014 was higher than the second quarter of that year.

Real gross domestic product (GDP) increased 4.6 percent at an annual rate in the second quarter of 2014

https://obamawhitehouse.archives.gov/blog/2014/09/26/third-estimate-gdp-second-quarter-2014

Real gross domestic product (GDP) grew 5.0 percent at an annual rate in the third quarter of 2014

https://obamawhitehouse.archives.gov/blog/2014/12/23/third-estimate-gdp-third-quarter-2014

The third quarter of 2014 was the best showing

Make7

(8,543 posts)

6. The BEA makes revisions to past data sometimes.

Reply to oberliner (Reply #5)

Fri Jul 27, 2018, 07:19 PM

Jul 2018

The OP is using the latest numbers from the BEA. Here is a link to their most recent GDP change spreadsheet:

https://www.bea.gov/national/xls/gdpchg.xlsx

oberliner

(58,724 posts)

7. But look at this graphic from the BEA released earlier this year (2018)

Reply to Make7 (Reply #6)

Fri Jul 27, 2018, 07:27 PM

Jul 2018

It also shows Q3 2014 higher than Q2.

Make7

(8,543 posts)

8. The revisions were part of today's news release.

Reply to oberliner (Reply #7)

Fri Jul 27, 2018, 07:41 PM

Jul 2018

oberliner

(58,724 posts)

9. Wow - is that normal?

Reply to Make7 (Reply #8)

Fri Jul 27, 2018, 07:44 PM

Jul 2018

Making revisions 4 years later?

Anyway - thanks for the info - I appreciate it!

Make7

(8,543 posts)

10. I'm not sure. I never paid close enough attention.

Reply to oberliner (Reply #9)

Fri Jul 27, 2018, 08:19 PM

Jul 2018

The procedure is to revise the initial estimate twice (at the end of each of the following two months). I wouldn't think there would be any significant new data after a year or so that would warrant further revisions, but if errors in the underlying data or changes in how they calculate something are made then the impact might stretch back years.

I am curious how far back the BEA's spreadsheets included in their advanced estimates are archived. Perhaps if I have time this weekend, I try to find enough old data to see how often numbers that are multiple years old are revised.

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