GDP Growth Falls to 1.8% in First Months of 2011
Posted on Apr 28, 2011
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
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.
Flickr / Ford APA
Ford factory employees perform a final product inspection.