Contribute
CONNECT:

research

U.S. Economy Even Worse Than Initially Reported

- August 26, 2016

Today We Learned, The U.S. Economy Only Grew By 1.1 Percent In The Second Quarter, Revised Down From Previous Estimates

Today, The Bureau Of Economic Analysis Revised Down Their Estimate For U.S. Gross Domestic Product To 1.1 Percent In The Second Quarter. (Bureau Of Economic Analysis, Accessed 8/26/16)

"The U.S. Economy Grew Less Than Previously Reported Last Quarter," Down From 1.2 Percent To 1.1 Percent. "The U.S. economy grew less than previously reported last quarter on lower government outlays and a bigger depletion of inventories, capping a sluggish first-half performance propped up mainly by consumer spending." (Shobhana Chandra, "Economy In U.S. Grew At 1.1% Rate, Slower Than First Estimated," Bloomberg , 8/26/16)

Clinton Gives The Obama Economy An "A" Grade And Points To Obama's Record As Evidence She Would Be Better For The Economy

In October 2015, Clinton Gave The Obama Administration An "A" For Its Overall Performance, Including The Clinton-Obama Economy. HILLARY CLINTON: "I'd give him an 'A.' I don't think he gets the credit he deserves for saving our economy from falling into a great depression, for saving the auto industry which represents millions of jobs up and down the supply chain, for beginning the crackdown on Wall Street abuses with Dodd-Frank, for getting the Affordable Care Act passed, for really being as responsive as he could possibly be given the obstructionism that he faced with the Republicans in Congress." (Hillary Clinton Interview With The Boston Globe, 10/17/15)

Click To Watch

Clinton Continues To Maintain That President Obama's Performance Is Evidence That The "Economy Does Better" With A "Democrat In The White House." CLINTON: "But it is true, our economy does better when we have a democrat in the White House, and that is true in Alabama, just like its true anywhere. We are going to make that case, do the very best we can to kind of get people to recognize that we are all in this together." (Hillary Clinton, Remarks At Townhall, Portsmouth, New Hampshire, 12/29/15)

Despite Clinton's Praise Of Clinton-Obama Economics, Today's GDP Figure Confirms A "Weak" And "Sluggish" First Half Of 2016 For An Economy That Has Failed "To Develop A Sustained Pickup"

Financial Times Headline: "US GDP Underscores Weak First-Half Growth" (Adam Samson, "US GDP Underscores Weak First-Half Growth," Financial Times, 8/26/16)

  • The Weak Second Quarter GDP "Capped What Was A Disappointing First Half Of 2016". "The weakness in the second quarter capped what was a disappointing first half of 2016 for the world's biggest developed-market economy, which expanded at a slim 0.8 per cent rate in the first three months of the year." (Adam Samson, "US GDP Underscores Weak First-Half Growth," Financial Times, 8/26/16)

The Revised U.S. GDP Figure Shows "The Economy's Failure To Develop A Sustained Pickup." "The economy's failure to develop a sustained pickup has helped keep Federal Reserve policy makers from pulling the trigger on an interest-rate increase so far this year. Economists project a third-quarter rebound driven by household purchases and more stockpiling, and the report showed wages and salaries were revised sharply higher, indicating consumers have the wherewithal to continue spending." (Shobhana Chandra, "Economy In U.S. Grew At 1.1% Rate, Slower Than First Estimated," Bloomberg , 8/26/16)

"Overall Economic Growth Remained Subdued In The Spring." "Overall economic growth remained subdued in the spring. Gross domestic product, a broad measure of goods and services produced across the economy, expanded at an inflation-adjusted 1.1% seasonally adjusted annual rate in the second quarter, according to Friday's report." (Ben Leubsdorf and Josh Mitchell, "U.S Corporate Profits Rose in Second Quarter, GDP Growth Revised Lower," The Wall Street Journal, 8/26/16)

"Capping A Sluggish First-Half Performance," The Second Quarter Combines With Growth Of Only 0.8 Percent In The First Quarter. "The revised pace matched the median projection of economists surveyed by Bloomberg. Forecasts ranged from 0.9 percent to 2.8 percent. The economy grew at a 0.8 percent pace from January through March." (Shobhana Chandra, "Economy In U.S. Grew At 1.1% Rate, Slower Than First Estimated," Bloomberg , 8/26/16)

The Revised Growth Figures Confirm "A Weak First Half Of 2016" For The U.S. Economy. "After a weak first half of 2016, overall growth was poised to accelerate over the summer. Forecasting firm Macroeconomic Advisers on Thursday estimated GDP would grow at a 3.1% annual pace in the third quarter." (Ben Leubsdorf and Josh Mitchell, "U.S Corporate Profits Rose in Second Quarter, GDP Growth Revised Lower," The Wall Street Journal, 8/26/16)

For Months The U.S. Economy Has "Struggled" And Is "In Danger Of Stalling." "The revision to second-quarter GDP growth was in line with economists' expectations. The economy has struggled to regain momentum since output started slowing in the last six months of 2015, which puts it in danger of stalling." (Lucia Mutikani," U.S. Second-Quarter Growth Trimmed To 1.1 Percent; Consumer Spending Raised," Reuters, 8/26/16)


Previous post

White House Won't Say Clinton's Use Of BleachBit To Delete Emails Inappropriate

Next post

Clinton’s Unprecedented Lack Of Press Access By The Numbers
Republican National Committee

Connect With Us

Republican National Committee
Chairwoman Ronna McDaniel
News & Videos
  • 310 First Street SE, Washington, DC 20003
  • 202-863-8500

By providing your phone number, you are consenting to receive calls and SMS/MMS msgs, including autodialed and automated calls and texts, to that number from the Republican National Committee. Msg&data rates may apply. Terms & conditions/privacy policy apply 80810-info.com.

Paid for by the Republican National Committee. Not Authorized By Any Candidate Or Candidate's Committee. www.gop.com

By providing your phone number, you are consenting to receive calls and SMS/MMS msgs, including autodialed and automated calls and texts, to that number from the Republican National Committee. Msg&data rates may apply. Terms & conditions/privacy policy apply 80810-info.com.

Paid for by the Republican National Committee.
Not Authorized By Any Candidate Or Candidate's Committee. www.gop.com