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| Subject: I overheard some show on NPR where the economists | |
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Author: Stephen |
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Date Posted: 10:22:06 06/02/07 Sat In reply to: Broken 's message, "bush's economy slowest growth since '02, richer get richer and screw the rest..." on 08:26:39 05/31/07 Thu the economists were wondering what the heck was wrong with people who were driving the stock market up. Then one optimist stepped up and said; "well in today's world, the market (AKA gambling) is the best investment going". Wow. >but the market is doing well, they only have another >year to grab all they can. > > >NEW YORK (CNNMoney.com) -- The economy grew at its >slowest pace since 2002 in the first three months of >the year, according to a government report Thursday >that was weaker than Wall Street expectations. > >The Commerce Department's gross domestic product >report, the broadest measure of the nation's economic >activity, showed an annual growth rate of 0.6 percent >in the first quarter. That's down from its initial >estimate of 1.3 percent growth. > > >The nation's economy grew at its slowest pace since >the end of 2002 in the first quarter. >Economists surveyed by Briefing.com had forecast the >growth rate would slow to 0.8 percent. > >It was the slowest period of growth since the fourth >quarter of 2002, when the economy showed only a meager >0.2 percent rise. A pick-up in imports, which subtract >from the nation's economic activity, is one of the >reasons that the reading was revised lower. > >The slump in the nation's housing market subtracted >about 0.9 percentage points from growth, but that's a >slight improvement from the month-ago reading when it >was estimated to have cost the economy almost a full >percentage point. > >The report's closely watched inflation readings were >little changed. The measure of prices paid by >consumers in the quarter, known as the PCE deflator, >showed a 3.3 percent increase in the period. That's a >bit of an improvement from the 3.4 percent increase in >the initial first quarter report a month ago. But the >core PCE deflator, which strips out the volatile >prices paid for food and energy, showed the same 2.2 >percent increase as the earlier reading. > >The core PCE deflator is seen as one of the key >measures of inflation viewed by the Federal Reserve >when the central bank policy makers weigh whether to >raise rates to keep prices in check or cut rates to >spur sluggish economic growth. The Fed is generally >believed to want to see the core PCE in the 1 to 2 >percent range. > >Wednesday the Fed released the minutes of its May 9 >meeting which showed that policymakers were concerned >about slowing economic growth when they gathered three >weeks ago, but that they believed the downside risks >to the economy "were judged to have diminished >slightly." > >Since that time there has been a number of reports >showing greater weakness in the economy, particularly >the in the housing and home building sector. There has >also been a spike up in gasoline prices to record >levels, which can both slow the economy and feed >inflationary pressures at the same time. > > >href="http://money.cnn.com/2007/05/31/news/economy/gdp/ >index.htm?cnn=yes">http://money.cnn.com/2007/05/31/news >/economy/gdp/index.htm?cnn=yes [ Next Thread | Previous Thread | Next Message | Previous Message ] |
| Subject | Author | Date |
| Re: I overheard some show on NPR where the economists | Oropan | 10:44:57 06/02/07 Sat |
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