Economic Growth Withers!!
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Exclamation Economic Growth Withers!! - 04-27-2012, 06:55 AM

Experts surprised again!!!
Who exactly are these people???

Just wait till the lag time of continued high gas prices and increases in prices at the retail level catche up.


Weak 'Recovery' Continues, Economy Slows to 2.2%
http://nation.foxnews.com/economy/20...onomy-slows-22



The American economy grew slower than predicted in the first quarter, as increased consumer spending was offset by slumping data in other areas.

Gross domestic product, the broadest measure of the nation's economy, grew at a 2.2% annual rate in the first three months of 2012, the Commerce Department said Friday.

That marks a slowdown from a 3% growth rate in the prior quarter, and was weaker than the 2.5% rate economists had been expecting.

The quarter was characterized by consistently stronger retail sales but otherwise fickle economic data.

Job growth started off robust in January, but then faltered in March. Home construction picked up at the beginning of the year, but then slumped. Inflation had been picking up earlier in the year amid rapidly rising gas prices, but has since moderated.


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05-01-2012, 06:30 AM

More Hope & Change!!

US economic recovery hits roadblock

Growth slows to 2.2% in first quarter after modest increase in consumer spending

http://gulfnews.com/business/economy...lock-1.1016213

Washington: US consumers boosted spending only modestly in March and a gauge of Midwestern business activity fell sharply in April, suggesting the economy entered the second quarter with less steam.

The Commerce Department yesterday said consumer spending rose 0.3 per cent in March, just below the median forecast in a Reuters poll.

When taking into account inflation, which has been fed in recent months by higher gasoline prices, spending barely rose, advancing just 0.1 per cent.

"The spending number is an indication that the higher gas prices we saw last month are taking their toll," said Todd Schoenberger, managing principal at the Black Bay Group in New York.

The Commerce Department report also showed consumer income rose 0.4 per cent in March. Analysts had expected a gain of 0.3 per cent. After-tax income climbed 0.2 per cent in March when accounting for higher prices.

US government debt prices rose as anxiety over economic weakness in Europe and slowing growth in the United States led investors to favour lower-risk investments. US stocks edged lower.

US economic growth cooled in the first quarter as businesses cut back on investment and restocked shelves at a slower pace. The economy grew at a 2.2 per cent annual pace in the first three months of the year, data on Friday showed, a slowdown from the fourth quarter's 3 per cent rate.

Stronger consumer spending over the entire quarter cushioned the blow, but yesterday's data suggested consumers ended the quarter spending less freely.

Cooling activity

A separate report from the private Institute for Supply Management-Chicago showed business activity cooled much more than expected in the Midwest during April. The ISM index for the Midwest fell to 56.2, its lowest since November 2009.

The reading follows several other regional business surveys that have suggested the economy started the second quarter on a soft note.

"The economy is losing a little momentum but manufacturing is still expanding," said Gary Thayer, a macro strategist at Wells Fargo Advisors in St Louis.

Another survey showed US small business hiring slowed considerably in the April and employees saw a reduction in their hours, adding to signs of weakening in labour market conditions. Businesses added 40,000 new jobs, a step back from the 75,000 positions created in March, according to Intuit, a payrolls processing firm


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05-01-2012, 06:56 AM

Being that GDP growth is a rigged number, a 2.2% growth rate is really a recessionary number.

Anyone who doesn't understand that statement needs to understand how the number is arrived at.

As an example ... let's say Apple sold 1M iPad2's at $599 in 2011 and then sells 1M iPad3's at $599 in 2012.

Q-Did iPad sales contribution to GDP increase, decrease, or no change.

A-Sales of iPads had a positive effect on GDP compared to the prior year.


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