U.S. Second-Quarter Growth Slows To 1.6%

[george]

America's Economic Recovery Loses Pace

The US has revised down its estimate for economic growth - the latest indicator that suggests the nation's economy has slowed to a crawl.

Gross domestic product (GDP) expanded at a 1.6% annual rate between April and June, the Commerce Department said, instead of the 2.4% pace it had estimated last month.

Although it may fuel concern that slowing growth is putting the US economy at growing risk of slipping back into recession, the revised data is actually not as weak as expected.

-- Agencies 2010-08-27

[gotlost]

Just look at the exchange rate that should tell you something. 30.93

[whybother]

and they complain about us when the topic is not about Thailand

[whybother]

... double post

Edited August 27, 2010 by whybother

[asiawatcher]

Just look at the exchange rate that should tell you something. 30.93

Already 30.15 today - but look at the reality of what is happening in the US. Debt is through the roof at corporate, personal and government levels. Debts have no way to be paid down and the recent 'printing' of more currency to meet payments by the government leaves me gobsmacked. Wish I could go out and print more money when I needed it!

US is on a slide and like all major economies/empires throughout history, it is only a matter of time before the 'shift'. Roman Empire, Genghis Khan, British Empire and now the US which will most likely make way for China.

That should get the Yank pens scrambling for the forum!

Edited August 28, 2010 by asiawatcher

[Robby nz]

America's Economic Recovery Loses Pace

The US has revised down its estimate for economic growth - the latest indicator that suggests the nation's economy has slowed to a crawl.

Gross domestic product (GDP) expanded at a 1.6% annual rate between April and June, the Commerce Department said, instead of the 2.4% pace it had estimated last month.

Although it may fuel concern that slowing growth is putting the US economy at growing risk of slipping back into recession, the revised data is actually not as weak as expected.

-- Agencies 2010-08-27

Let me get this right:

GDP expanded at a 1.6% instead of the 2.4% pace it that was estimated

Yet the revised data is actually not as weak as expected.

So 1.6% is not as weak as 2.4%.????????

Although it may fuel concern that slowing growth is putting the US economy at growing risk of slipping back into recession

.

Got news for you sport it never has come out of recession.

I read unemployment is at 10%, mogtgage foreclosures at 100,000 a month and debt both public and private at record levels.

Interest rates are at an all time low yet no one is borrowing and the dollar is droping against most other currencies.

At risk of slipping back indeed.