Thursday, August 28, 2014

2Q2014 GDP, second estimate, at 4.2% vs. 4.0% in advance estimate and -2.1% in 1Q2014

If today's report of GDP holds up in the final estimate of 2Q2014 GDP about a month from now, Obama will have racked up just three quarters in his entire presidency with prints in the fours:

4Q2011  4.6%
3Q2013  4.5%
2Q2014  4.2%.

Here's Obama's full record incorporating the latest annual revisions from bea.gov at the end of July and the annual revisions from the summer of 2013:

2009: -5.4, -0.4,  1.3,  3.9
2010:  1.6,   3.9,  2.8,  2.5
2011: -1.5,   2.9,  0.8,  4.6
2012:  2.3,   1.6,  2.5,  0.1
2013:  2.7,   1.8,  4.5,  3.5
2014: -2.1,   4.2.

Average report after 22 quarters: 1.7%.

Pathetic!