22 September 2017

US Economy Barely Grew in First Quarter

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The American economy slammed on the brakes in the beginning of 2014, as weaker exports and lower spending by businesses essentially brought growth to a standstill.

At 0.1 percent, the pace of expansion in January, February and March was the slowest since late 2012, and revealed another one of the periodic pauses in the growth that has characterized the slow recovery of the last five years.

Many experts had predicted a slowing in the first quarter of 2014, especially in the wake of more robust growth in the second half of 2013 and very cold weather in January and February, but the figures released by the Commerce Department on Wednesday morning were still drastically below the 1.2 percent rate of expansion that Wall Street had been expecting.

Click here for the full article in the New York Times.

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