Biden’s GDP Growth Rate Falls in June to an Abysmal 1% Annual Rate – IT’S A DISASTER

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The GDP Growth rate under Biden has fallen to an abysmal 1%.  Biden’s economy is a self-made disaster.

The Atlanta Fed is now reporting an expected annual GDP growth rate of 1% based on today’s horrible jobs report:

The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the third quarter of 2021 is 1.3 percent on October 8, unchanged from October 5. After this morning’s releases of the employment situation report by the US Bureau of Labor Statistics and the wholesale trade report from the US Census Bureau, an increase in the nowcast of third-quarter real gross private domestic investment growth from 10.5 percent to 10.7 percent was offset by a decrease in the nowcast of third-quarter real personal consumption expenditures growth from 1.1 percent to 1.0 percent.

The Atlanta FED shows the decline in the rate projections.  They are falling off the page.

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One analysis shows that Biden’s GDP decreased in June and has decreased from a projected annual rate of 6.7% to 2.2%.  Either way, this is no recovery.  It’s going the wrong way.


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