Gross domestic product expanded at an only 0.2 percent annual rate, the Commerce Department said on Wednesday. That was a big step down from the fourth quarter's 2.2 percent pace and marked the weakest reading in a year.GDPNow forecast 0.1% so 0.2% is twice what was forecast. Incredible that "they" could be off by that much. 100%. LOL.
The market was not impressed; down over a hundred points as soon as the number was announced. I won't even bother with posting the "excuses" that pundits have already come up with to explain this.
What are we? Six years into the recovery? After a gazillion dollars in stimulus. 750 new jobs created by the stimulus? If President Obama can get the Iranian deal he wants, he will have single-handedly been responsible for more new oil and gas jobs in Iran than all the jobs he has created directly or indirectly in the US oil and gas industry. I don't have the data to back up that statement. I'm probably wrong.
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The Daily "Energy Cookie"
Today's EIA energy note:
U.S. energy consumption has slowed recently and is not anticipated to return to growth levels seen in the second half of the 20th century. E
IA's Reference case projections in the Annual Energy Outlook 2015 (AEO2015) show that domestic consumption is expected to grow at a modest 0.3% per year through 2040, less than half the rate of population growth.
Energy used in homes is essentially flat, and transportation consumption will decline slightly, meaning that energy consumption growth will be concentrated in U.S. businesses and industries. --- EIA
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Truck Bypass Northwest of Williston
Video taken about 7:30 p.m. Tuesday evening.
the Recession Ended( according to US govermint accounting ) in June of 2009, so we are 5 ys and 9 months into this USA recovery.. don
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