The U.S. economy grew at a 2.5 percent clip in the first quarter of 2013 – up from its dismal fourth quarter performance but not enough to meet expectations or sustain employment growth.
Analysts had projected the initial first quarter estimate from the U.S. Department of Commerce (which is subject to revision) to come in at 3 percent – making this the economy’s biggest whiff since the third quarter of 2011. Meanwhile the 2012 growth rate was pegged at a disappointing 2.2 percent.
“The reason for the big miss: Inventory and Fixed Investment came well below expectations,” Zero Hedge notes, adding that “only silver lining” in the otherwise “weak report” was an uptick in consumer spending.
This week’s dismal GDP data comes on the heels of a terrible jobs report earlier this month – which included another drop in the nation’s labor participation rate, which currently stands at a 34-year-low of 63.3 percent.
U.S. GDP REPORT (.pdf)
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23 comments
I LMAO. You F*%kin Liberals (like FITS) are ALWAYS Suprised (I bet FITS looks like Nancy Peolosi) when his STUPID @$$ is given Reality that conflicts w/ what Keith Olberman and Rachael Maddow assuured him of.
The economy spiked a little before the 2012 election day because we all anticipated the defeat of Obama.
But now we’re faced w/ the nighmare of ObamaCare and the same old Miserably failing polices of Obama.
And: you can expect this dismal growth number to be revised even lower. This is just a cover to run interference for the total and contiual F*#k-Up, Obama is….
Dude, spell check. Seriously. “Suprised,” “assuured” and “nighmare” are not words. We all know from your inane comments that you’re a nut job, but you could at least try to write like a nut job with a brain. Unless you don’t… yeah, never mind.
Spelling is a matter of not running spellcheck. Easily sixable.
Critical thinking, of which you are incabale, is far more rare.
And Dumb@$$ Obamites are pulled along by their noses, believing anything they are told.
You are FAR more dangerous than some miss-spelled words.
Big”Grand”Tango…lmao….get a life, pops.
T has a new monicker
I love how the unhinged nutjob is lecturing someone about critical thinking skills.
…”because we all anticipated the defeat of Obama.”
Only those who watch Fox News and read Breitbart were so deluded. The polls are skewed, man!
I LMAO. You F*%kin Liberals (like FITS) are ALWAYS Suprised (I bet FITS looks like Nancy Peolosi) when his STUPID @$$ is given Reality that conflicts w/ what Keith Olberman and Rachael Maddow assuured him of.
The economy spiked a little before the 2012 election day because we all anticipated the defeat of Obama.
But now we’re faced w/ the nighmare of ObamaCare and the same old Miserably failing polices of Obama.
And: you can expect this dismal growth number to be revised even lower. This is just a cover to run interference for the total and contiual F*#k-Up, Obama is….
Dude, spell check. Seriously. “Suprised,” “assuured” and “nighmare” are not words. We all know from your inane comments that you’re a nut job, but you could at least try to write like a nut job with a brain. Unless you don’t… yeah, never mind.
…”because we all anticipated the defeat of Obama.”
Only those who watch Fox News and read Breitbart were so deluded. The polls are skewed, man!
Government incapability leads to uncertainty which learns to uneven growth and corporations sitting on cash. Learn to love it.
leads.
Corporations are sitting on cash because they refuse to hire new workers, and they are benefitting from historically low interest rates. We will see a lot of M&A activity this summer and fall.
Government incapability leads to uncertainty which learns to uneven growth and corporations sitting on cash. Learn to love it.
leads.
Corporations are sitting on cash because they refuse to hire new workers, and they are benefitting from historically low interest rates. We will see a lot of M&A activity this summer and fall.
Lions and tigers and bears, oh my!!!! whatever shall we do??!!!??? please, get some new doom and gloom.
Lions and tigers and bears, oh my!!!! whatever shall we do??!!!??? please, get some new doom and gloom.
But that damn stock market, a leading economic indicator, is up, up, up. Republicans and Dems alike who are in the market are doing FANTASTIC.
You will write anything as long as you bash Democrats and POTUS. We know you cannot be balanced but maybe you can aspire to the truth???!!
But that damn stock market, a leading economic indicator, is up, up, up. Republicans and Dems alike who are in the market are doing FANTASTIC.
You will write anything as long as you bash Democrats and POTUS. We know you cannot be balanced but maybe you can aspire to the truth???!!