Guess what happened to the economy in the first quarter of 2017… Yep the same thing that has happened for the past decade, snails pace in growth – PB/TK
Economy slows dramatically, growing a feeble 0.7% in Q1 – By Paul Davidson April 28 2017
For more than a decade, the U.S. economy has tended to ring in the new year meekly. This year was no different
Economic growth slowed in the first quarter as sluggish consumer spending and business stockpiling offset solid business investment. Yet many economists are writing off the weak performance as a byproduct of temporary blips and still expect healthy growth in 2017.
The nation’s gross domestic product – the value of all goods and services produced in the U.S. — increased at a seasonally adjusted annual rate of 0.7%, the Commerce Department said Friday, below the tepid 2.1% pace clocked both in the fourth quarter and as an average throughout the nearly eight-year-old recovery. Economists expected a 1% increase in output, according to a Bloomberg survey.
Many analysts have noted Commerce likely has understated growth early in the year because of challenges making adequate seasonal adjustments, particularly in categories such as business investment, exports, defense spending, and state and local outlays. Growth in the first three months of the year has averaged just 1% since 2000, less than half the average for the other three quarters, according to Wells Fargo.
Continue to usatoday.com article: https://www.usatoday.com/story/money/2017/04/28/economy-posted-feeble-growth-q1/100995626/
