Real gross domestic product — the output of goods and services produced by labor and property located in the United States — increased at an annual rate of 1.3 percent in the second quarter of 2012 (that is, from the first quarter to the second quarter), according to the “third” estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP increased 2.0 percent.
The GDP estimate released today is based on more complete source data than were available for the “second” estimate issued last month. In the second estimate, the increase in real GDP was 1.7 percent (see “Revisions” on page 3).
Reuters Business ?@Reuters_Biz
GDP second-quarter GDP cut to 1.3 percent on drought LINK
But, but the stock market...
quote:But you know what? The funny (and sad) thing is it won't affect the polling date one iota. It seems those that support Obama have drank the koolaid and are supporting him come hell or high water. They've completely turned a blind eye to all things related to the economy.
Lots of bad economic news today:
quote:I'm losing faith in this. I keep waiting for him to "bring it" and he seems to be going the other way. In another post, it was suggested this was an appeal to the soft undecideds. I dunno. I think a stark contrast works more in his favor rather than a muddled overlap.
Plus you can bet your arse Romney brings it up during the debates
quote:Actually, it's 1.5% (first estimate-July 27th) to 1.7% (second estimate - August 29th) to 1.3% (third estimate - Sept. 27th). Really shows how long it takes for the numbers to shake out properly.
1.7 to 1.3?
quote:As well as foreign policy.
They've completely turned a blind eye to all things related to the economy.