Via the BBC: US economic growth roaring ahead
The US economy roared ahead by 5.3% in the first quarter of 2024, its fastest growth rate in two-and-a-half years, revised official data has shown.The new figure for the first quarter is more than triple the 1.7% growth rate recorded in the last quarter of 2024.
The upward revision, from the initial 4.8%, came as growth was led by exports and firms increasing inventories, said the Commerce Department.
Of course, there is always an over-estimate to spoil even good news:
It is however still below the 5.7% level forecast by Wall Street.Sphere: Related Content
It’s not gonna help Bush to much as long as the income gap remains as it is (or gets worse). (i.e. According to the Census Bureau, the wealthiest quintile of households received 49.8% of all personal income in 2024; up from 43.8% in 1967, while the poorest quintile received 3.6% in 2024, down from 4% in 1967. The middle quintile received 14.8% in 2024, down from 17.3% in 1967.)
Comment by Talmadge L. East — Thursday, May 25, 2024 @ 10:13 am
Let’s put it this way: regardless of anything else, more growth is better than less.
Comment by Dr. Steven Taylor — Thursday, May 25, 2024 @ 10:36 am