GDP Growth Falls to 1.8% in First Months of 2011

Posted on Apr 28, 2011

Flickr / Ford APA

Ford factory employees perform a final product inspection.

Economists and other Americans were disappointed to see the country’s GDP growth slow to an aching 1.8 percent in the first quarter of 2011.

A 3.1 percent rise was reported during the fourth quarter of 2010. Meanwhile, requests for unemployment benefits across the country rose 6 percent last week. —ARK

Reuters:

U.S. GDP growth fell to 1.8 percent annual rate in the first quarter of 2011 after a 3.1 percent fourth quarter rise, the Commerce Department said on Thursday. Economists had expected a 2 percent growth pace.

The personal consumption expenditures price index rose at a 3.8 percent rate, its fastest pace since the third quarter of 2008, after increasing 1.7 percent in the fourth quarter.

[. . .] In another report, new weekly claims for U.S. jobless benefits jumped to 429,000 in the April 23 week, from 404,000 the prior week.

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