No. 889: GDP Revision, April Durable Goods and Home Sales
Nonsense in the Gross Domestic Product (GDP) Reporting
Gross Domestic Income (GDI) - Theoretical Equivalent of the GDP -
Gained 0.85% in First-Quarter 2017, After a Revised Fourth-Quarter
Contraction of 1.38% (-1.38%), Previously up by 1.00%
First-Quarter 2017 GDI Activity Still Is Below Third-Quarter 2016
Headline First-Quarter Details Otherwise Showed Stalling Economy, with
GDP at 1.15%, GDI at 0.85%, GNP at 0.99%
Better-Quality Series Still Show Continuing, Protracted Economic Collapse, with
No Recovery of Pre-Recession Highs and No Economic Expansion
In the Context of Downside Benchmark Revisions, Durable Goods Orders
Declined Month-to-Month, Before and After Inflation and/or Commercial Aircraft Orders
Monthly New- and Existing-Home Sales Declined in March,
In the Continuing Context of Low-Level, Non-Recovered Stagnation
Real Median Monthly Household Income Has Shown No Net Gain Since February 2002