[Ed. – I’ve been seeing for some time that these figures are being heavily manipulated. So have others.]
Commerce announced on Thursday that the nation’s third-quarter gross domestic product expanded by just a 1.5 percent annual rate. …
But how Commerce got to that 1.5 percent number is truly amazing.
Of the 1.5 percent, 0.45 of a percentage point came from increased health care spending. In other words, mandatory ObamaCare payments caused about one-third of the third-quarter GDP growth.
Without that forced spending, GDP growth would have been just 1 percent annualized.
But that ain’t all.
Increases in durable-goods spending contributed 0.48 of a percentage point to that 1.5 percent GDP number. Without that increase — on products like cars, refrigerators and planes, which are long-lasting — annualized third-quarter GDP would have been just 1.02 percent.
Here’s the bizarre part: Sales of durable goods have been in a free fall.