GDP Growth Falls to 1.8% in First Months of 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
’TIS THE REASON…
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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