Economic growth slows in second quarter
Two important economic numbers were just released by the government.
U.S. economic growth slowed to an annual rate of 1.7 percent in the second quarter, the commerce department said Thursday. That compared with 3.7 percent in the first quarter.
But it was a slight upward revision from the previous second-quarter estimate of 1.6 percent.
Meanwhile, initial claims for jobless benefits fell 16,000 in the latest week to 453,000, the labor department said. That puts new jobless claims back to where they were at the start of 2010, MarketWatch reported.
MarketWatch said U.S. stock futures turned modestly higher after this data was released at 8:30 a.m. because the numbers were better than expected.
Tell us what you think about the site
Customer Care »
Vacation stops, manage subscriptions and more
AJC Services
Sections
Other Editions
Visitor Agreement | Privacy Statement
© 2013 The Atlanta Journal-Constitution
56 comments Add your comment
democratsbgone
September 30th, 2010
11:52 am
@RGB
Its true “You can lead a horse to water but you cant make him drink! Hows the cotton mouth working for ya. Its idiots like you who put this man in office and still to this day DO NOT KNOW what he stands for. All you got is ITS BUSH’s FAULT, that worked well 2 years ago but now its old
I bet if you promise Obama to vote for him in 2012 he may say you a temporary position on the railroad
democratsbgone
September 30th, 2010
11:56 am
im in ur base, killing ur d00dz
democratsbgone
September 30th, 2010
12:05 pm
@ foxhunter
So glad you brought that up, the war is over claims Obama but yet Combat hasnt stopped. I guess when you keep pointing the fingers you become out of touch with reality. Hussein deserves to be where hes at, but contradicting yourself seems to be a specialty. Talk about casualties look at the lives Hussein but hey we should sit back and do nothing its your party specialty. Wasnt it the democrats stating to the troops that they would fail on the war, i believe so. I have family and friends in the navy and army who are currently serving, ive supported them more than you ever will.
APB
September 30th, 2010
12:41 pm
News > Economy
Bush says he inherited recession
Bush, Cheney take advantage of revised GDP data to say economy a mess when they took office.
August 7, 2002: 6:04 PM EDT
By Mark Gongloff, CNN/Money Staff Writer
For those with selective memory, let’s see what Bush said in August of 2002…..
NEW YORK (CNN/Money) – Although last week’s revision of U.S. gross domestic product data for 2001 may have been old news for the economy, it was something of a stroke of luck for President Bush, who has since used it as evidence that he inherited an economic mess when he took office.
Bush and Vice President Dick Cheney, in separate speeches Wednesday, both claimed the U.S. economy was already in recession when they were inaugurated in January 2001, implying the blame for the slowdown rested on President Clinton’s shoulders.
Both men also made assurances that they had a handle on the problems facing the economy.
“When I took office, our economy was beginning a recession,” Bush said in a speech at a Mississippi high school. “Then our economy was hit by terrorists. Then our economy was hit by corporate scandals. But I’m certain of this: We won’t let fear undermine our economy and we’re not going to let fraud undermine it either.”
democratsbgone
September 30th, 2010
12:58 pm
@ APB
So what is your argument, also do you have any unbiased reporting ( cnn excluded)
Z
October 1st, 2010
1:50 am
The only thing George W. Bush created was two wars and giving his cronies huge tax breaks and oh yea, a huge debt for these United States of America. Everything else he supposedly created was just thin air. He created no domestic net jobs. The ones he did created were all off shore. Everything seemed to be moving along smoothly on the surface but it was all a creation by the Bush administration…FAKE economy, Fake job creations, nothing but an image in the Republicans own minds…Do people actually believe Obama could have created this mess from the moment he came into office, NO WAY. If it wasn’t for Obama, we would have seen the worst depression this country has ever faced. I can’t imagine anyone wanting to vote for these wacko republicans running for office, none of them have a lick of sense. This Independent will not vote for another Republican until some moderation is brought back to that party. The Tea hee party that has taken control of the Republican Party are nothing but a bunch of religious zealots, and destroying the republican party.