Revisions Unveil a More Resilient US Economy than First Reported | Metals Mine

  • Revisions Unveil a More Resilient US Economy than First Reported

    From wellsfargo.bluematrix.com

    A data deluge this morning gives the U.S. economy a new lease on life. Second quarter GDP, in hindsight, is stronger than it first appeared in light of robust consumer service spending and more robust business fixed investment. August durable goods orders suggest the cap-ex momentum carried into Q3. Jobless claims fell for both first-time filers and those re-filing for existing benefits. By any reckoning, today's durable goods report for August is better than what we had expected or what was expected by the consensus. The durables report dropped simultaneously with revisions to second quarter GDP that put the ... (full story)

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Eurorally
Sep 26, 2025 8:17am
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[quote=Momofrmnyc;15405568]
Quoting Eurorally
Quote: Revisions Unveil a More Resilient US Economy than First Reported From wellsfargo.bluematrix.com Reported by whom? By some journos who revel in "I believe" rather than "I know as I studied the economic data." This is a farce! But the important thing here is that Joe Public listens to and reads these journos and forms opinions based on such writings. And that is where the problem is.[/quote Are you just basically saying the data is fake?
On the contrary. I am sorry if I expressed myself inartfully: For I was referring to the original gripe referred to in the title to the article, namely, that "the economy is better than originally expected." Expected by whom? By journos based merely on a political bias the (positive) economics data be damned!
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Eurorally
Sep 25, 2025 9:12pm
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Quote: Revisions Unveil a More Resilient US Economy than First Reported
From wellsfargo.bluematrix.com

Reported by whom? By some journos who revel in "I believe" rather than "I know as I studied the economic data."

This is a farce! But the important thing here is that Joe Public listens to and reads these journos and forms opinions based on such writings. And that is where the problem is.
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Schultz
Sep 26, 2025 7:33am
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Quoting TimmyBTrades
GDP data was revised by the BEA to a higher level than previously reported by the BEA. Where do the journos fit into this scheme?
They are hardly journos. Shannon Grein has a B.S. in Economics and a M.A. in Economics. Tim Quinlan has a B.A. and has been published in academic economic journals.

Do not question the original posters knowledge or otherwise of this or you are likely to receive a hostile response.
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Momofrmnyc
Sep 26, 2025 3:20am
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[quote=Eurorally;15405223]Quote: Revisions Unveil a More Resilient US Economy than First Reported From wellsfargo.bluematrix.com Reported by whom? By some journos who revel in "I believe" rather than "I know as I studied the economic data." This is a farce! But the important thing here is that Joe Public listens to and reads these journos and forms opinions based on such writings. And that is where the problem is.[/quote

Are you just basically saying the data is fake?
TimmyBTrades
Sep 25, 2025 9:28pm
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GDP data was revised by the BEA to a higher level than previously reported by the BEA. Where do the journos fit into this scheme?
Reply
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