Looks like BOARDS OF FL has to eat crow...AGAIN.
The frigid winter had already been factored into the estimates for Q1 which were dismal at about 1.2 percent. It came in even worse.
US economy slowed to 0.1 percent growth rate in Q1
Apr 30, 9:38 AM (ET)
By MARTIN CRUTSINGE
WASHINGTON (AP) — The U.S. economy slowed drastically in the first three months of the year as a harsh winter exacted a toll on business activity. The slowdown, while worse than expected, is likely to be temporary as growth rebounds with warmer weather.
Growth slowed to a barely discernible 0.1 percent annual rate in the January-March quarter, the Commerce Department said Wednesday. That was the weakest pace since the end of 2012 and was down from a 2.6 percent rate in the previous quarter.
Many economists said the government's first estimate of growth in the January-March quarter was skewed by weak figures early in the quarter. They noted that several sectors — from retail sales to manufacturing output — rebounded in March. That strength should provide momentum for the rest of the year.
Read more: http://apnews.myway.com/article/20140430/us-economy-gdp-09b1567225.html
The frigid winter had already been factored into the estimates for Q1 which were dismal at about 1.2 percent. It came in even worse.
US economy slowed to 0.1 percent growth rate in Q1
Apr 30, 9:38 AM (ET)
By MARTIN CRUTSINGE
WASHINGTON (AP) — The U.S. economy slowed drastically in the first three months of the year as a harsh winter exacted a toll on business activity. The slowdown, while worse than expected, is likely to be temporary as growth rebounds with warmer weather.
Growth slowed to a barely discernible 0.1 percent annual rate in the January-March quarter, the Commerce Department said Wednesday. That was the weakest pace since the end of 2012 and was down from a 2.6 percent rate in the previous quarter.
Many economists said the government's first estimate of growth in the January-March quarter was skewed by weak figures early in the quarter. They noted that several sectors — from retail sales to manufacturing output — rebounded in March. That strength should provide momentum for the rest of the year.
Read more: http://apnews.myway.com/article/20140430/us-economy-gdp-09b1567225.html
Last edited by Markle on 5/30/2014, 6:50 am; edited 2 times in total