US Economy: GDP Grew by More Than Forecast in Second Quarter

US economic growth accelerated by more than forecast in the second quarter at a 2.8% annualized rate, while personal spending also rose above forecast at 2.3%. Weekly jobless claims declined to 235,000. Michael McKee reports on Bloomberg Television.

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[robertjones]

Alright ! That means raise rates higher to cool of this excellent economy !! 😂

[VickyVicky-peqd]

BTC can disregard techincals when in a bull, did that in 2020 when it crossed previous ATH... stayed there a few weeks and continued pumping like crazy to 60k. Also, there is one constant... when around 90 on monthly RSI, the end is near. And don't expect crazy price targets of 500k... expect around 100k at most and be happy if there's more after that. If you believe big boys and CEOs of big investment firms are saying targets like 1M this cycle.. you deserve to be their exit liquidity. It's not about guessing the market's next move; it's about playing it smart and steady during trading...managed to grow a nest egg of around 2.3B'tc to a decent 21 B'tc in the space of a few months...I'm especially grateful to Lia Lorenzo whose deep expertise and traditional trading acumen have been invaluable in this challenging, ever-evolving financial landscape

[jaym]

Biden asked for $5. Kamala $10. I'm out $15.

[rameshpudhucode]

People comment without understanding that gdp does not take into account inflation. GDP growth quoted by BEA is inflation adjusted

[npkyiyq]

According to the "advance" estimate, real GDP expanded by 2.8% annually in the second quarter of 2024. In the first quarter, real GDP expanded by 1.4%.

According to these inflation projections, average consumer price inflation should be 3.2% by 2024. The average growth rate of the so-called 'health price index', which is used to price index wages, social benefits, and housing rent, is expected to be 3.2% in 2024, up from 4.33% in 2023 and 9.25% in 2022.

Other data points are not provided, although they are very significant for consumers and have an impact on the overall effect; however, all of these factors play a part in financial policy.

Statistical data are data that are based on some algorithm and therefore can be understated or overstated, and in fact everyone knows how much more they have to pay for groceries and fuel building materials, rent for everything, so where is the truth? Where is the falsehood?

[richardliu]

GDP goes up 2.8%, Inflation goes up to 28% What is the point?

[pamdemic]

More things sold or more money paid for less things sold?

[charleysmith]

It sure better have imagine staying stagnate with the amount of inflation weve had. It would be impossible 😂

[jamese]

GDP doesn’t mean shit for working people. This only ends one way.

[lorenzoalbertomedina]

The Gas, groceries & stores prices do not reflect that but nice try Bloomie. It's bad if folk are not buying beer or cigarettes!

[jossykuriakose]

I swear they have to stop using gdp growth as an indicator of everything being good. There are other factors they got to consider.

[Dj.MODÆO]

It’s an illusion of growth due to inflation, not from a boom in buisness. If the inflation rate is up 20% but the gdp is only up 8% then it means the economy is actually down by 12% compared to last year.

[danjenkins]

This information is for people who believe what they hear more than what they actually see.

[patriotusa]

The headline should read "The rich keep getting richer in the 2nd quarter".

[meathooksmcgee]

If you're running a business right now, you know this is total BS

[blitheringrando]

Too old to do the job is looking just fine right now

[Marcia.-btxe]

Things are looking up! President Trump is coming. We have faith now things are getting better!

[ljeffcoat]

Complete & total bullshit.
This admin has caused an economic shit show