US GDP Growth is only 2.4%, not 3.9%

US GDP Growth is only 2.4%, not 3.9%

The press is reporting today that the US achieved GDP growth of 3.9% in the 3rd quarter.  However, on a year-over-year basis, GDP growth was only 2.4%.  3.9% is the sequential growth from Q2 to Q3.  No company reports results this way.  Why does the US government?  Sequential reporting is subject to government statisticians seasoning their stew to suit their tastes.  This year's first-quarter dip in GDP from the cold weather has followed by a bounce back of pent-up demand that is not a realistic reflection of the tepid ongoing growth of America's mismanaged economy.  Economies are seasonal, and seasonality is best erased by comparing each quarter this year with the same quarter last year.  That's the only honest way to report it.  US GDP growth was 2.4% in Q3, not 3.9%.   

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