Folks the good times continue to roll along! The Economic Train decided to run over a bunch of Economists, Democrats, Globalists, CoC, Uniparty Republicans, MSM etc. earlier today. 3rd Quarter GDP has been REVISED from 3.0% to 3.3%! The great news is that their will be one final revision that will occur on December 27th. ARE YOU KIDDING ME!
Mother Nature decided she would take her best shot at the Economic Train with two devastating Hurricanes that hit the state of Texas and Florida in the middle of the 3rd Quarter. Economists said in late September that the 3rd Quarter would be lucky to hit 2.5%. The same NY Federal Reserve that has the 4th Quarter currently projected to reach 3.8% had the 3rd Quarter reaching only 1.7%.
A fellow Treeper by the name Gary said that I need a better Train! He sent me the following video which was just awesome! Mother Nature may decide to dump as much snow as possible over the next month. It won’t mean a thing as we head toward’s a MONSTER % for the 4th Quarter. 5% is a REAL possibility.
From the article linked above:
The U.S. economy expanded at its fastest clip in three years during July, August and September, according to a new report from the Bureau of Economic Analysis that pegs the third quarter’s gross domestic product growth rate at 3.3 percent.
The estimate represents an upward revision from last month’s initially reported 3 percent uptick. The economy has now grown at 1.2 percent, 3.1 percent and 3.3 percent during the first three quarters of the year, respectively.
The third quarter’s gains were due in large part to a better-than-expected performance out of nonresidential fixed investments – which represent corporate spending on equipment and facilities to help rev up workforce productivity.
But analysts are generally bullish about what lies in store for the rest of 2017 and beyond.
“Looking ahead toward the fourth quarter, much attention will be given to the state of the consumer and household spending. Retail sales, a strong indicator of consumption patterns, rose over the past quarter and should continue to support growth,” Baird said. “Black Friday sales may have increased at the strongest pace in several years, which bodes well for consumer spending to propel the economy to a strong finish to the year.”
Folks 3% GDP for 2017 is more of a reality today than ever! What makes it truly amazing is that the final annual GDP for 2016 was a MISERABLE 1.6%.
1st Quarter (Jan 1 – March 31) – Our final GDP was a miserable 1.2% since Barry was still in office for 20 days and our President began to implement his Energy Dominance and kill regulations.
2nd Quarter (April 1 – May 31) – Our final GDP was 3.1%.
3rd Quarter (June 1 – September 30) – Our revised GDP is 3.3% (We will see the final % on December 27th / I believe it will end at 3.4%).
That would mean the following:
1.2 + 3.1 + 3.4 + 4.3 = 3% GDP FOR 2017!