Strong consumer spending, factory data buoy U.S. growth outlook

Comments (42)
gcf1965 wrote:

Yesterday “U.S. economy stalls in first-quarter…” Today this. Seems like the “protectors” are always trying to hype the forecast but then when the reality of what has actually transpired is brought to light, it is never the rosy picture that was hyped. Face it, obama and the DNC are destroying the country – socially, morally, economically, spiritually, and culturally. The few that really have a concern for the welfare of the US and her people are so intimidated and so far in over their head they have no idea how to fix anything. This is and has always been their plan(the DNC) to hold on to power and keep ALL citizens and non-citizens enslaved and dependent. They need to go NOW!

May 01, 2014 9:41am EDT  --  Report as abuse
act1 wrote:

I don’t know what yardstick the Commerce Department is using to measure the rise of consumer spending. My yardstick tells me folks are reining in their spending in my neck of the woods. I have 13 items offered on Craigslist, ranging from jewelry, art, furniture. accessories, etc. I have not had so much as an inquiry in weeks. To me, that’s more indicative of consumer spending than that of the Commerce Dept.

May 01, 2014 10:02am EDT  --  Report as abuse
act1 wrote:

I don’t know what yardstick the Commerce Department is using to measure the rise of consumer spending. My yardstick tells me folks are reining in their spending in my neck of the woods. I have 13 items offered on Craigslist, ranging from jewelry, art, furniture. accessories, etc. I have not had so much as an inquiry in weeks. To me, that’s more indicative of consumer spending than that of the Commerce Dept.

May 01, 2014 10:02am EDT  --  Report as abuse
act1 wrote:

I don’t know what yardstick the Commerce Department is using to measure the rise of consumer spending. My yardstick tells me folks are reining in their spending in my neck of the woods. I have 13 items offered on Craigslist, ranging from jewelry, art, furniture. accessories, etc. I have not had so much as an inquiry in weeks. To me, that’s more indicative of consumer spending than that of the Commerce Dept.

May 01, 2014 10:02am EDT  --  Report as abuse
act1 wrote:

I don’t know what yardstick the Commerce Department is using to measure the rise of consumer spending. My yardstick tells me folks are reining in their spending in my neck of the woods. I have 13 items offered on Craigslist, ranging from jewelry, art, furniture. accessories, etc. I have not had so much as an inquiry in weeks. To me, that’s more indicative of consumer spending than that of the Commerce Dept.

May 01, 2014 10:02am EDT  --  Report as abuse
act1 wrote:

I don’t know what yardstick the Commerce Department is using to measure the rise of consumer spending. My yardstick tells me folks are reining in their spending in my neck of the woods. I have 13 items offered on Craigslist, ranging from jewelry, art, furniture. accessories, etc. I have not had so much as an inquiry in weeks. To me, that’s more indicative of consumer spending than that of the Commerce Dept.

May 01, 2014 10:02am EDT  --  Report as abuse
act1 wrote:

I don’t know what yardstick the Commerce Department is using to measure the rise of consumer spending. My yardstick tells me folks are reining in their spending in my neck of the woods. I have 13 items offered on Craigslist, ranging from jewelry, art, furniture. accessories, etc. I have not had so much as an inquiry in weeks. To me, that’s more indicative of consumer spending than that of the Commerce Dept.

May 01, 2014 10:02am EDT  --  Report as abuse
act1 wrote:

I don’t know what yardstick the Commerce Department is using to measure the rise of consumer spending. My yardstick tells me folks are reining in their spending in my neck of the woods. I have 13 items offered on Craigslist, ranging from jewelry, art, furniture. accessories, etc. I have not had so much as an inquiry in weeks. To me, that’s more indicative of consumer spending than that of the Commerce Dept.

May 01, 2014 10:02am EDT  --  Report as abuse
act1 wrote:

I don’t know what yardstick the Commerce Department is using to measure the rise of consumer spending. My yardstick tells me folks are reining in their spending in my neck of the woods. I have 13 items offered on Craigslist, ranging from jewelry, art, furniture. accessories, etc. I have not had so much as an inquiry in weeks. To me, that’s more indicative of consumer spending than that of the Commerce Dept.

May 01, 2014 10:02am EDT  --  Report as abuse
act1 wrote:

I don’t know what yardstick the Commerce Department is using to measure the rise of consumer spending. My yardstick tells me folks are reining in their spending in my neck of the woods. I have 13 items offered on Craigslist, ranging from jewelry, art, furniture. accessories, etc. I have not had so much as an inquiry in weeks. To me, that’s more indicative of consumer spending than that of the Commerce Dept.

May 01, 2014 10:02am EDT  --  Report as abuse
act1 wrote:

I don’t know what yardstick the Commerce Department is using to measure the rise of consumer spending. My yardstick tells me folks are reining in their spending in my neck of the woods. I have 13 items offered on Craigslist, ranging from jewelry, art, furniture. accessories, etc. I have not had so much as an inquiry in weeks. To me, that’s more indicative of consumer spending than that of the Commerce Dept.

May 01, 2014 10:02am EDT  --  Report as abuse
act1 wrote:

I don’t know what yardstick the Commerce Department is using to measure the rise of consumer spending. My yardstick tells me folks are reining in their spending in my neck of the woods. I have 13 items offered on Craigslist, ranging from jewelry, art, furniture. accessories, etc. I have not had so much as an inquiry in weeks. To me, that’s more indicative of consumer spending than that of the Commerce Dept.

May 01, 2014 10:02am EDT  --  Report as abuse
act1 wrote:

I don’t know what yardstick the Commerce Department is using to measure the rise of consumer spending. My yardstick tells me folks are reining in their spending in my neck of the woods. I have 13 items offered on Craigslist, ranging from jewelry, art, furniture. accessories, etc. I have not had so much as an inquiry in weeks. To me, that’s more indicative of consumer spending than that of the Commerce Dept.

May 01, 2014 10:02am EDT  --  Report as abuse
gcf1965 wrote:

Oh come on, one more post would be a post for each item on Craigslist.

May 01, 2014 10:22am EDT  --  Report as abuse
jackwolf wrote:

I bet a lot of it is from the damage to homes and cars a la climate change.

May 01, 2014 10:47am EDT  --  Report as abuse
chuck2 wrote:

Hmmm, low inflation other then food and fuels, amusing at best, and let’s all give a cheer for our other record holder, Congress as least productive ever. And be sure to send the incumbents back for more of same. Rather feed up with ALL elected, more so those that use positions to legislate wealth while putting it to the commoners. Also let’s not forget the partisan fools who blame other side and their elected hacks.

Yep all is great, spending up, but noted not much said about how much was charged on the plastic, which many must do as real wages down and food/fuels going up off the scale, but what the hey, WS is at record levels and we all know how it benefits us all,(if in upper 3%). Seems we should simply put on door at elected halls, “Shut up and eat cakes”>

May 01, 2014 10:52am EDT  --  Report as abuse
ineeditbad wrote:

Oh, waitaminute! There is Flooding on the East Coast. Surely that is comparative to a winter storm which was blamed countless times as the cause of our economic problems…Sarcasm, yeah…I stopped looking at the baited hook a long, long time ago…This is the guff we have been FED for 5+ years…

May 01, 2014 10:56am EDT  --  Report as abuse
ineeditbad wrote:

@gcf1965
Very Funny! Sadly, when you hit the Post Button it doesn’t provide any acknowledgment, so newbies keep hitting the button. I wish Reuters would fix that…

May 01, 2014 11:00am EDT  --  Report as abuse

Here goes gcf again, positive news and it suddenly lies, heck you could tell this guy the sky is blue and he would say no the government is lying to you it is actually green.

May 01, 2014 11:13am EDT  --  Report as abuse
gcf1965 wrote:

Still waiting for Reuter’s to publish their story on today’s job numbers. Spiked to 344K, a 2 month high. Guess they are still trying to get their positive spin on this.

May 01, 2014 11:48am EDT  --  Report as abuse
Bakhtin wrote:

The last quarter is history, and spending is growing now. No contradiction, no confusion.

It is noticeable that every time there is good news about the USA economy, you hate it. You are infuriated that your country is recovering and go into denial.

Do you really hate your country so much?

May 01, 2014 11:49am EDT  --  Report as abuse
Hahahappy wrote:

Calibrate the good ignore the bad, simple politics. From down here I would say spending is increasing every day, everyone is spending more time complaining about an incompetent government.

May 01, 2014 11:54am EDT  --  Report as abuse
ineeditbad wrote:

@ gcf1965 wrote:

“Still waiting for Reuter’s to publish their story on today’s job numbers. Spiked to 344K, a 2 month high. Guess they are still trying to get their positive spin on this.”

Funny, I have been searching that all morning. I’m very happy you mentioned it. That’s sets the expectations here…Still “massaging” the numbers with a twisted positive upbeat…So damned predictable…

May 01, 2014 11:59am EDT  --  Report as abuse

Bakhtin, I don’t think it’s a matter of people hating their country. It is more of a matter of confusing and conflicting information.

Yesterday there was bad news about the US economy and markets rose. We get a .001 (one tenth of 1%) rise in GDP so the MSM as well as the Fed, politicians, etc asks the public to “look beyond” the dismal numbers. We blame the weather but Canada outperformed the US during the same period. It’s colder up there, believe me.

When economic numbers are bad we see lots of spin. This drives some people crazy. When the numbers are good, well they are what they are and all is OK.

I don’t think that anyone at the Fed or anywhere else really knows what the heck is going on.

Now I’m going to hit the “post comment” button ONCE!

May 01, 2014 12:13pm EDT  --  Report as abuse
ineeditbad wrote:

@Bakhtin wrote:

“The last quarter is history, and spending is growing now. No contradiction, no confusion.

It is noticeable that every time there is good news about the USA economy, you hate it. You are infuriated that your country is recovering and go into denial.

Do you really hate your country so much?”

I am happy that you see positive outcomes from the press. Sadly, I have been reading this Guff for 5+yrs…I could post links to articles. Gov Reports, Obama speeches and yet when it’s all good for one individual, it’s all good for everyone, right?…Sorry, I disagree. Please spend more time reading the news and stop looking for ANY supposedly Positive outlook articles… I am living the dream, or at least I was 6 years ago…Now, my Savings have been Wiped Out thanks to long term unemployment. Nothing out there worth pursuing unless I want to relocate, so that’s the answer? Hop on a Wagon Train going West or whatever? Sell my house to pay off the mortgage, loosing 18yrs of payments? Yep, you must be well off…

May 01, 2014 12:16pm EDT  --  Report as abuse
gcf1965 wrote:

positive news? Really? It is almost always the same thing – “We think things will/might/should get better”, but the look back is always “nope, not yet”. Come on, look at the other news out today –

U.S. April factory activity growth slows

Weekly jobless claims surprisingly jump to two-month high of 344,000

U.S. construction spending rose less than expected in March as outlays on public projects fell for a fifth consecutive month.

May 01, 2014 12:22pm EDT  --  Report as abuse
rikfre wrote:

somebody printing money out there and giving it away for free…? I want in on that!

May 01, 2014 1:12pm EDT  --  Report as abuse
gcf1965 wrote:

So which is it?

http://www.reuters.com/article/2014/05/01/us-usa-economy-markit-idUSBREA400GO20140501

http://www.reuters.com/article/2014/05/01/us-usa-economy-manufacturing-idUSBREA400H420140501

May 01, 2014 1:35pm EDT  --  Report as abuse
Bakhtin wrote:

gdf1965

Thanks for proving my point about you hating good news about the US economy. The look back is 5 years of economic growth and falling unemployment, but you hate that idea so much you deny it happened and predict that the sky is about to fall instead.

The ‘nope, not yet’ is your endless predictions of doom. The economy really is getting better, and has been for half a decade.

It seems to me that your allegiance to the Tea Party is stronger than your allegiance to your country.

May 01, 2014 1:48pm EDT  --  Report as abuse
jackwolf wrote:

I think it’s from all the storm damage everywhere.

May 01, 2014 2:20pm EDT  --  Report as abuse
CDN_Rebel wrote:

Thing is most of the spending went into healthcare (new ACA sign-ups that didn’t have healthcare before) and energy (for the excessively cold winter)… nothing to be too rah-rah-rah about methinks. Durables and housing are the real yardstick, and they weren’t great numbers.

May 01, 2014 2:26pm EDT  --  Report as abuse
Crash866 wrote:

But if you read the article….

“There is, however, a risk that first-quarter growth could be lowered to show a contraction after a report from the Commerce Department showed an unexpectedly smaller rebound in construction spending in March.”

“Excluding food and energy”. Yeah who eats and uses energy anymore?

“The broader labor market picture has not changed materially

“While another report from the Labor Department showed an unexpected rise in the number of Americans filing for unemployment benefits last week,”

You…voted…for this…twice…
Tick tock…

May 01, 2014 2:35pm EDT  --  Report as abuse
gcf1965 wrote:

Crash, shhhh, this is not to be addressed. Everything is great!

May 01, 2014 2:40pm EDT  --  Report as abuse
GeosDude wrote:

This morning, Reuters had the same story, but very different quotes and sources … and conclusions:

“As the U.S. economy teetered on the brink of contraction in the first quarter, one thing stood out. Healthcare spending increased at its fastest pace in more than three decades.

“That surge is attributed to the implementation of President Barack Obama’s signature healthcare law, the Affordable Care Act, also known as Obamacare. Because of Obamacare, the nation narrowly avoided its first decline in output in three years.

“GDP growth would have … been negative were it not for healthcare spending,” said Harm Bandholz, chief economist at UniCredit Research in New York.

“Healthcare spending increased at a 9.9 percent annual rate, the quickest since the third quarter of 1980, and it contributed 1.1 percentage points to GDP growth.”

Now, the story is, “Oh, well, people are just spending more!” Sure. Like the paltry few hundred billion spent every year by the citizenry can come close to matching the trillions spent by government – through transfer payments, direct payouts, contract purchases, aerospace, military hardware, medical spending… Don’t forget, when governments – municipal, state, federal – collect taxes, fines, and fees, those dollars are counted as “consumer spending.” This article is a cover piece to try and put a smile on the faces of people who are already over-medicated.

May 01, 2014 2:42pm EDT  --  Report as abuse
Crash866 wrote:

Bakhtin
The last quarter is a fact, and spending compared to last Q is up but nothing to get excited about. No contradiction, no confusion.

It is noticeable that every time there is “spun” good news about the USA economy, you eat it up. You are infuriated that your country is not recovering and are delusional if you think it is.

Do you really hate those who love their country so much they are realists and point that out to you?

May 01, 2014 2:44pm EDT  --  Report as abuse
Crash866 wrote:

Bakhtin
“It seems to me that your allegiance to the Tea Party is stronger than your allegiance to your country.”

Has gcf1965 ever declared he is a Tea Party member or is that just your opinion based on your high powered progressive liberal perception and ideology?

May 01, 2014 2:47pm EDT  --  Report as abuse
moonhill wrote:

What was the story yesterday about the economy growing a .01%?

May 01, 2014 3:28pm EDT  --  Report as abuse
moonhill wrote:

And just the other day we were told this: Economy is at a crawl.

http://time.com/82434/gdp-economy-first-quarter-2014/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed:+time/business+(TIME:+Top+Business+Stories)

May 01, 2014 5:53pm EDT  --  Report as abuse

the .1%, not .01% btw, Growth number is for Q1, this report is for April which is not part of Q1 but Q2.

May 01, 2014 6:22pm EDT  --  Report as abuse
Bakhtin wrote:

Crash866 wrote:
“spending compared to last Q is up but nothing to get excited about”

Consumer spending for Q1 rose by 3%. Of course you don’t like it.
Good news for the USA is bad news for the right-wing – doesn’t that worry you?

Crash866 wrote:
“Has gcf1965 ever declared he is a Tea Party member”

Yes.

May 01, 2014 10:34pm EDT  --  Report as abuse
Bakhtin wrote:

moonhill wrote:
“And just the other day we were told this: Economy is at a crawl”

It doesn’t say that at all. That is just your wishful thinking – another rightie desperate for the USA to fail. From your own link:

“Economists said the figures were disappointing, but expect the economy’s growth rate to return to between 2.5 and 3 percent in 2014, the Times reported. Analysts were in agreement that much of the hit in the first quarter was due to inventory growth in the end of 2013 and seasonal factors.”

But you ignore the fact that everyone expected the economy to slow in Q1, ignore the bit about normal growth expected in Q2 , and instead you and the other right-wing posters here cry, in unison, “Yay! The US economy is failing! Isn’t that great?”

May 01, 2014 10:40pm EDT  --  Report as abuse
WeAreLosingIt wrote:

why is the photo accompanying this story a stock image of a fat woman shopping in Target FOUR YEARS AGO ?!?!? Is Reuters getting tired of “job fair’ photos ???? *awaits moderator*

May 02, 2014 12:49am EDT  --  Report as abuse
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