2016 Postmortem
Related: About this forumThird-quarter GDP rises *To* 2%, better than expected
Last edited Fri Oct 26, 2012, 09:44 AM - Edit history (1)
8:44AM EDT October 26. 2012 -
The nation's gross domestic product grew at an annual rate of 2% during the third quarter, the government said today, in one of the final pre-election looks at how the economy is recovering from the recession.
The results beat the 1.8% median forecast of 48 economists surveyed by USA TODAY, and indicate an economy that is moving slowly toward recovery, helped by an improving housing market.
Consumer spending, which has the biggest impact on economic growth, rose 2% last quarter after rising 1.5% in the second quarter. And investment in housing jumped 14.4% to help lead the way.
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More:
http://www.usatoday.com/story/money/business/2012/10/26/third-quarter-gdp/1657649/
DemocratSinceBirth
(99,711 posts)On a scale of 1-10 for us I give a 2.0% GDP growth figure a 6.
Anything under 2.0 would have been disastrous.
Let's see how it plays out...
FBaggins
(26,756 posts)Not particularly healthy growth... And it's too late in the cycle to help much... But at least it doesn't hurt.
DemocratSinceBirth
(99,711 posts)I would have given a 3 an 8 but according to the "experts" voters views of the economy are already baked in .
I remember praying for a bad 3rd quarter GDP in 1992 that would help Clinton, It didn't come and it didn't matter.
FBaggins
(26,756 posts)DemocratSinceBirth
(99,711 posts)Do you think the talking heads bloviating about it for the next three days would have upset the conventional wisdom that voters views of the economy are already baked in?
I am sure they are relieved in Washington and Chicago.
FBaggins
(26,756 posts)Having said that, a negative number would spark (legitimate) questions about whether or not we had entered a new recession.
7.8% vs. 8.1% unemployment isn't a particularly big deal, but recession vs. recovery would probably be a game-changer.
Luckily, that's not an issue.
primaryblue
(37 posts)ItsTheMediaStupid
(2,800 posts)It may not help much, but it doesn't provide much for the bad guys to blab about either.
Darth_ Deciduous
(44 posts)That's .7% from Q2 to Q3.
The title in the OP is a little confusing.
TroyD
(4,551 posts)I just copied the heading from the article since that's their title.