[Ed. – Sorry, this smells ridiculously bad. At this time two years ago, government economists were manipulating economic data, shifting mandated Obamacare spending from one quarter to another to arbitrarily make the “receiving” quarter look better. Later in the year, it was obvious that that’s what had been done. MANDATED Obamacare spending was shifted around to maximize its impact on GDP figures. This yielded no truthful information about GDP or the economy. We can assume something similar is going on now. It may very well be about Obamacare again. The reason you don’t feel better is that GDP isn’t actually up. Put the entire NYT article in scare quotes.]
The U.S. economy got a double dose of good news Friday. Economic growth in the final three months of 2015 didn’t slow as much as previously estimated, and consumers roared back to life in January, spending at the fastest clip in eight months.
The Commerce Department said that consumer spending increased 0.5 percent last month, the best showing since May and far higher than the tiny 0.1 percent gain in December. Economists are expecting stronger consumer spending, which accounts for two-thirds of economic activity, to lift overall economic growth in the new year after a fourth-quarter slowdown.
In a separate report, the government said the gross domestic product, the broadest measure of economic health, grew at an annual rate of 1 percent in the fourth quarter. That’s an improvement from the first estimate of 0.7 percent, though just half the 2 percent growth posted in the third quarter.