Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsGDP bump due to accelerated soybean exports and inventory accumulation
https://yhoo.it/2LFJnJNThe U.S. economy grew 4.1% in the second quarter, partly due to a burst in soybean and corn exports, according to economists. In May, the latest data available, soybean exports nearly doubled compared to in April. Producers were in a rush to beat tit-for-tat sanctions, soybean exports are up 26% for the year compared to 2017.
In the second quarter, the U.S. recorded an 80% annualized jump in food, feed and beverage exports, mainly from soybeans and corn. Without that surge, exports would have increased 5.3% instead of 9.3%, which means the GDP growth would have been around 3.6%, according to Paul Ashworth, the chief U.S. economist at Capital Economics.
David Rosenberg, the chief economist of Gluskin Sheff, argues trade disputes may play an even bigger role in inflating GDP. At least half the growth is coming from two trade-related issues a soybean-led export burst and inventory accumulation. Net these out and we remain near 2%, he tweeted on Thursday.
In the second quarter, the U.S. recorded an 80% annualized jump in food, feed and beverage exports, mainly from soybeans and corn. Without that surge, exports would have increased 5.3% instead of 9.3%, which means the GDP growth would have been around 3.6%, according to Paul Ashworth, the chief U.S. economist at Capital Economics.
David Rosenberg, the chief economist of Gluskin Sheff, argues trade disputes may play an even bigger role in inflating GDP. At least half the growth is coming from two trade-related issues a soybean-led export burst and inventory accumulation. Net these out and we remain near 2%, he tweeted on Thursday.
InfoView thread info, including edit history
TrashPut this thread in your Trash Can (My DU » Trash Can)
BookmarkAdd this thread to your Bookmarks (My DU » Bookmarks)
5 replies, 723 views
ShareGet links to this post and/or share on social media
AlertAlert this post for a rule violation
PowersThere are no powers you can use on this post
EditCannot edit other people's posts
ReplyReply to this post
EditCannot edit other people's posts
Rec (6)
ReplyReply to this post
5 replies
= new reply since forum marked as read
Highlight:
NoneDon't highlight anything
5 newestHighlight 5 most recent replies
GDP bump due to accelerated soybean exports and inventory accumulation (Original Post)
Roland99
Jul 2018
OP
The 4.1% is definitely not sustainable- actually Obama had 3 quarters of 4% growth
wishstar
Jul 2018
#1
wishstar
(5,267 posts)1. The 4.1% is definitely not sustainable- actually Obama had 3 quarters of 4% growth
and Trump's first year in office was lower than Obama's final year in office
exboyfil
(17,857 posts)2. Wonder what that bodes for 3rdQ
Sub 2% just before the election. I got to think they are thinking of ways to pump this sucker up in time.
I have been criticized, but I still think Democrats should defer big purchases until after the election (or least until the 3rdQ ends).
Also I think a theme should start regarding Gorsuch and Kavanaugh being corporate stooges. It is an easy case to make.
Renew Deal
(81,802 posts)3. We all know how bad trade disputes can get.
thegoose
(3,115 posts)4. He's trashing the economy
All these petty disputes and alienating trade partners is going to be a disaster.