In other words, there is underlying data that indicates things are much better than the 4.1% number.Big surprise: the underlying data for Q2 is even better than the headline 4.1% annual GDP growth rate.
Volatile NX added 1.1 but volatile inventories SUBTRACTED 1.0. All in consumption plus fixed investment up 4.3%.
There is a component in all of this called "final sales to private domestic purchasers" that measures the private sector. That number rose 4.3% in the second quarter, which was up a full 2.3% from the previous quarter. This component eliminates inventories, trade and government spending in order to look at raw private sector production and consumption.
The consumer spending data shows a sharp increase in the second quarter, which is usually closely connected to higher consumer confidence where there is very low unemployment and working Americans with more discretionary income as a result of the tax cuts.
Even to some of Obama's guys ...
WINNING is WINNING.