That's according to the US bureau of Economic Analysis. The contraction in the 1st qtr was revised down to 2.1% from 2.9%. These stats are annualised growth rates. A nice rebound from the 1st qtr, and there won't be a recession.

*not_secure_link*bea.gov/newsreleases/national/gdp/gdpnewsrelease.htm

 

Have you ever wondered what is fueling the upturn??

From magic's link:

The US federal debt increases at a rate of $2.32 billion A DAY, so in that month the national debt increased $69.0 billion dollars, to fuel an increase in the GDP of $250.7 billion, which wipes out the meager 4% increase that magic and the government is wild about.

Magic go play with your governments shortcomings, ours are failing quite well without you.

 

Considering the non-stop lies and spin of the Obama-administration, how can anyone trust that these numbers have not been cooked?

 

Absolutely, we cannot trust the government one whit; os why should we believe the figures are not cooked?

 

Or trust the numbers cooked by the selfish, spiteful Republican Conservatives?

 

Yep, who do you trust?

The old cliche' fits well: Follow the money.

On each side there are extremists who taint the ideology of the faithful.

 

Put your panties on simmer folks, in a few short days,, the truth will come out on the explosive numbers.

 

So you say.

 

You guys still not figured out how to separate the civil service from the government? You'd be able to trust the figures then, because they would not be coming from "the government" but from a government body, a different and non-political entity.

 

That sounds a little oxymoronic, a government body that is not part of the government?

 

Why yes, I can see your point. The IRS isn't political at all, is it?

 

That's why we call it the civil service. Funded by the government on an ongoing basis, but NOT appointed, or capable of being influenced (much), by whichever political party happens to be in government at any given time. The Tory party can want unemployment figures to go down as much as they like, but the quango in charge of counting them will release what they count, not what the Tories want to hear.

 

We do have "Civil service", jobs which are secure without political dependency.

But, the bureaus are run by political appointees. I may be wrong, but your system is quite the same in that regard.

 

So you're saying it's government spending? If so, you have a fundamental misunderstanding.... the spending is ongoing regardless. Do you really think they decided to up the budget this quarter simply to increase the end numbers?

 

No, various spending measure are fueling gains some of the economic indicators, if those measures were curtailed or eliminated, the GNP would be directly effected negatively. Therefore the increased federal debt has helped the GNP gains.

Do you disagree with this?

 

I think you already know the answer to that question.

The U.S. Government Has Hurt The Economy In 11 Of The Past 12 Quarters

*not_secure_link*i.huffpost.com/gen/1938958/original.jpg

In other words, the U.S. government has been a drag on the economy for the past three years, which was not coincidentally when congressional Republicans started holding the government hostage in exchange for painful austerity measures. In fact, big spending drags began hitting the economy in the fourth quarter of 2010, just as Republicans were winning control of the House of Representatives, setting the stage for the budget fights to come.

*not_secure_link*www.huffingtonpost.com/2014/07/30/federal-spending-gdp_n_5634092.html

 

Well wonders never cease, you are correct in this scenario. Personally, I thought that increasing federal debt by expanded spending, would impact the GDP in a positive fashion, but it appears that I am wrong in that assumption. It actually impacts it in a negative fashion.

This a rather long explanation but it does make sense to me: *not_secure_link*www.nationalreview.com/corner/339244/government-spending-and-gdp-veronique-de-rugy

 

Sure you would believe that tenguy because you constantly push the lies of conservatism as they are preached and practiced in this nation. But the fact is that cutting government spending and cutting government jobs has made not only or recession much worse its also why many of our agencies can no longer do their jobs properly just like the VA.

 

Psst, stumbles read the article, the whole thing. Increased government spending has a negative impact on the GDP, just like your source showed.

 

But GDP is only one part of the economy. That's how we end up increasing GDP, setting record profits for corporations and the stock market, increase the wealth of the one percent by over 100% and still have people unemployed and or working full time and still not being paid enough to earn a living.