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Obama Boom: More Unexpected bad data

by Phantom Ace Comments Off
Filed under Economy, Headlines at August 3rd, 2011 - 3:04 pm

The mythical Obama Boom continues to produce bad data. Service sector demand and factory orders both declined in June.

The pace of growth in the U.S. services sector ticked down unexpectedly in July to the lowest level since February 2010 as new orders received by U.S. factories also fell in June, according to reports released Wednesday.

The Institute for Supply Management said its services index fell to 52.7 last month from 53.3 in June. The reading fell shy of economists’ forecasts for 53.6, according to a Reuters survey.

A reading above 50 indicates expansion in the sector. The new orders gauge slipped to 51.7 from 53.6, while employment fell to 52.5 from 54.1.

“It is slightly weaker than expected, most of the key gauges were down. It looks like this confirms that we are in a bit of a soft patch here,” said Rudy Narvas, senior economist at Societe Generale in New York.

[….]

The Commerce Department said orders for manufactured goods fell 0.8 percent after a revised 0.6 percent increase in May. Economists had forecast a 0.7 percent decline after a previously reported 0.8 percent rise.

Who are these economists that the media claims expect good data? ARe they a

Tags: The Obama Boom, The Obama Depression
Posted in Economy, Headlines | Comments Off on Obama Boom: More Unexpected bad data

The Obama Boom: Another unexpected drop in Consumer Spending

by Phantom Ace ( 3 Comments › )
Filed under Economy, Headlines, unemployment at August 2nd, 2011 - 1:03 pm

The media still has not abandoned the Obama Myth. They still are expecting this miraculous 2nd half rebound. When bad datacomes in, they call it unexpected. Well once again reality intruded on their little dram world. Personal spending was down .02% in June.

U.S. consumer spending dropped in June for the first time in nearly two years as incomes barely rose, suggesting economic growth could remain subdued in the third quarter.

The Commerce Department said on Tuesday consumer spending slipped 0.2 percent, the first drop since September 2009, after edging up 0.1 percent in May.

Economists had expected spending, which accounts for about 70 percent of U.S. economic activity, to rise 0.2 percent.

When adjusted for inflation, spending was flat in June after easing 0.1 percent the prior month.

“The growth potential for the economy has slowed significantly,” said Yelena Shulyatyeva, a U.S. economist at BNP Paribas in New York.

The media needs to give up on the Obama Boom lie. No one believes it and most people know that this is the Obama Depression!

Tags: Consumer Spending, The Obama Boom, The Obama Depression
Posted in Economy, Headlines, unemployment | 3 Comments »

The Obama Boom: Manufacturing Slows More than Expected in July

by Phantom Ace ( 4 Comments › )
Filed under Economy, Energy, Headlines, Media at August 1st, 2011 - 10:31 am

The title of the post is the actually headline opf this story. Once again, unknown economists are wrong! manufacturing activity slowed down and using one of their favorite phrases, more than expected.

Although the pace of growth in the U.S. manufacturing sector slowed more than expected in July, contruction spending hit a six-month high in June, according to reports released Monday.

A reading below 50 indicates contraction in the manufacturing sector, while a number above 50 means expansion.

New orders fell to 49.2 from 51.6. Prices paid was down at 59 from 68. The employment index fell to 53.5 from 59.9.

The media and these mysterious economists still haven’t given up on the fictionally Obama Boom. No matter how many bad reports come out, they still expect good numbers. They are either clueless or delusional!

Tags: The Obama Boom, The Obama Depression
Posted in Economy, Energy, Headlines, Media | 4 Comments »

The Obama Boom: 2011 2nd Quarter GDP grows at 1.3% less than expected

by Phantom Ace ( 125 Comments › )
Filed under Barack Obama, Economy, Media, Misery Index, Progressives, unemployment at July 29th, 2011 - 11:00 am

Another bad economic report is called “unexpected” by economists. The media is still clinging to the myth of the Obama Boom. They have been lying to the public about how great things are. Every year since 2009 the economists and the media keep saying a turn around will occur in the second half. Yet that turnaround never comes. Whenever some good data comes in, the Obama loving media proclaims good times are here. Yet reality has a way of destroying their illusions.

The economy grew at a 1.3% pace in the 2nd quater. This comes as no surprise to anyone but the Obama loving media. They always claim they poll economists but never give out details. Clearly the rosy numbers they expect are given to them by the Obama Regime. Then when the real number comes in, it’s unexpected!

The U.S. economy grew less than expected in the second quarter as consumer spending barely rose, and growth braked sharply in the prior quarter, a government report showed on Friday.

Growth in gross domestic product—a measure of all goods and services produced within U.S. borders—rose at a 1.3 percent annual rate, the Commerce Department said.

First-quarter output was sharply revised down to a 0.4 percent pace from 1.9 percent.

Economists had expected the economy to expand at a 1.8 percent rate in the second quarter.

[…]

This and the sharp downward revisions to the prior quarters suggest a more troubling and fundamental slowdown might be underway.

Read the rest: Economy Grows at Sluggish 1.3%; Consumers Pull Back

No matter how many bad reports come in, it’s always unexpected! Clearly the media has too much invested in the Obama Regime for them to face the facts. The Obama Boom doesn’t exist.

Tags: The Obama Boom, The Obama Depression
Posted in Barack Obama, Economy, Media, Misery Index, Progressives, unemployment | 125 Comments »