1st-quarter GDP shockingly contracts amid plunges in exports
May 17, 2022 22:30:49 GMT -5
Post by OmegaMan on May 17, 2022 22:30:49 GMT -5
Recession clouds gathering fast: First-quarter GDP shockingly contracts amid plunges in exports, inventories
Tuesday, May 17, 2022 by: JD Heyes
Tags: Bidenflation, economic contraction, economics, exports, falling inventory, Federal Reserve, finance, GDP, GDP contraction, hidden tax, Inflation, interest rate hike, Joe Biden, manufacturing, recession, rising prices, risk, supply chain, supply chain collapse, supply chain crisis
This article may contain statements that reflect the opinion of the author
(Natural News) The American economy in the age of Joe Biden, the most senile president ever ‘elected,’ continues to suffer collapse, as recessionary clouds are now gathering on the horizon faster than expected.
According to reports late last week, the nation’s gross domestic product (GDP) — the measurement of all economic activity combined — unexpectedly and shockingly shrank during the first quarter (January-March) while at the same time U.S. exports fell and retailer and wholesaler inventories fell.
In explaining the situation, Zero Hedged noted what was behind the unexpected contraction of the U.S. economy was mostly two things: “A sharp drop in change in private inventory and a huge swing in net exports.”
The site adds:
According to the [Bureau of Economic Analysis], the first quarter decrease in real GDP reflected decreases in inventory investment, exports, federal government spending, and state and local government spending, while imports, which are a subtraction in the calculation of GDP, increased. Consumer spending, business investment, and housing investment increased.
The site noted the following Q1 economic indicators:
Personal consumption rose 1.83%, up from 1.76% in Q4
Fixed Investments 1.27%, also up solidly from 0.50% in Q4
However, the change in private inventories was a huge hit to GDP (just as we warned last month it would be) subtracting -0.84% from GDP, vs adding 5.32% in Q4
Net trade was also ugly, with exports collapsing to -0.68% vs an increase of 2.24% in Q4. At the same time, imports were largely flat at -2.53%, vs -2.46% last quarter, resulting in a net trade print of -3.21% in Q1, vs a -0.22% decline in Q4.
Government consumption was unchanged at -0.48% vs -0.46% a quarter ago.
Continued at link
Tuesday, May 17, 2022 by: JD Heyes
Tags: Bidenflation, economic contraction, economics, exports, falling inventory, Federal Reserve, finance, GDP, GDP contraction, hidden tax, Inflation, interest rate hike, Joe Biden, manufacturing, recession, rising prices, risk, supply chain, supply chain collapse, supply chain crisis
This article may contain statements that reflect the opinion of the author
(Natural News) The American economy in the age of Joe Biden, the most senile president ever ‘elected,’ continues to suffer collapse, as recessionary clouds are now gathering on the horizon faster than expected.
According to reports late last week, the nation’s gross domestic product (GDP) — the measurement of all economic activity combined — unexpectedly and shockingly shrank during the first quarter (January-March) while at the same time U.S. exports fell and retailer and wholesaler inventories fell.
In explaining the situation, Zero Hedged noted what was behind the unexpected contraction of the U.S. economy was mostly two things: “A sharp drop in change in private inventory and a huge swing in net exports.”
The site adds:
According to the [Bureau of Economic Analysis], the first quarter decrease in real GDP reflected decreases in inventory investment, exports, federal government spending, and state and local government spending, while imports, which are a subtraction in the calculation of GDP, increased. Consumer spending, business investment, and housing investment increased.
The site noted the following Q1 economic indicators:
Personal consumption rose 1.83%, up from 1.76% in Q4
Fixed Investments 1.27%, also up solidly from 0.50% in Q4
However, the change in private inventories was a huge hit to GDP (just as we warned last month it would be) subtracting -0.84% from GDP, vs adding 5.32% in Q4
Net trade was also ugly, with exports collapsing to -0.68% vs an increase of 2.24% in Q4. At the same time, imports were largely flat at -2.53%, vs -2.46% last quarter, resulting in a net trade print of -3.21% in Q1, vs a -0.22% decline in Q4.
Government consumption was unchanged at -0.48% vs -0.46% a quarter ago.
Continued at link