economy grew more last quarter than previously estimated

[wvit1001]

Gross domestic product rose at a 0.8 percent annualized rate in the three months ended in March, the smallest gain in a year, Commerce Department figures showed Friday. That compares with the 0.5 percent advance the government reported last month.

The figures do little to alter views of the third consecutive sluggish start to the year, and could portend a tougher slog in the second quarter as businesses work to continue to pare stockpiles. At the same time, household income gains were stronger than previously reported as the labor market strengthened, which will help support consumer spending.

“It’s still a very poor start to the year,” Ryan Sweet, a senior economist at Moody’s Analytics Inc. in West Chester, Pennsylvania, said before the report. “From past experience we get most of that back in the second quarter.”

Income Gains

After-tax personal income adjusted for inflation climbed at a 4 percent annualized rate in the first quarter, revised up from a prior estimate of 2.9 percent. The saving rate was also pushed up to 5.7 percent, the highest since the fourth quarter of 2012, from 5.2 percent.

Total income in the economy, which combines all forms of earnings, increased at a 2.2 percent annualized rate, the most since the fourth quarter of 2014.


http://www.msn.com/en-us/money/markets/the-economy-grew-more-last-quarter-than-previously-estimated/ar-BBtylz2?li=BBnbfcN

[Byteryder]

Doesn't sound like much to crow about.

[dont-blameme]

Citizens of the word like wvit don't know much so it doesn't take much to get them to crow!

[wvit1001]

Wage increases sound pretty good to me. 

[Byteryder]

All they do is increase inflation for those on a fixed income.  That doesn't sound good to me.

[wvit1001]

what inflation?  if there were inflation you're fixed income would get a raise wouldn't it?

[jst-the-fax]

wvit,
 
Do you realize the US Economy is growing at a slower rate than Europe?

[Byteryder]

Not for "creeping inflation"  I.E. inflation that does not get adjusted for unless goes up a minimum amount.  10 years of .5% inflation accumulates to 5.0% and none of it gets adjusted for.

[wvit1001]

but increasing interest rates on your investments would make up for the creeping inflation.

[chuck_curtis]

It will raise prices so that those wage increases would be a wash.  You can't fight the laws of nature.

[jst-the-fax]

wvit,

The Market is essentially flat with rates on CD and passbook accounts under 1%. So your dictator's economy is a bust at best...where investments are concerned. Unless you have a better lie to tell?

[wvit1001]

I wouldn't put my money in the bank in savings accounts or in CD's right now, the interest rates are practically zero.  but if you'd had that money in the market for the past 8 years you'd have more than doubled it.