A More Positive Spin on the Economy

Matthew Yglesias: “The Bureau of Economic Analysis released some moderately disappointing news about the economy, saying we enjoyed a 2.2 percent growth rate in the fourth quarter of last year. That’s an okay number, but it’s a slowdown from where we were in the third quarter and adds up to an overall very ‘meh’ 2014.”

“But the White House Council of Economic Advisors takes a more optimistic view of the trend, and their case has some merit. CEA chair Jason Furman is touting this chart:”

“GDP is something you’ve probably heard of, while the chart’s number — real private final domestic purchases — is awfully obscure. But it’s arguably a better indicator of where things are going. Private final domestic purchases means you basically remove three things from the GDP number: exports, government purchases and business inventories.”

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  • Bill Adkins

    Awaiting the chorus of “But, but — Obama bad!! It’s not so good. It could be far better! Obama didn’t build that!” As if Republican obstruction after Republican destruction never existed.

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