us first quarter growth cut to 18
Last Updated : GMT 13:26:10
Arab Today, arab today
Arab Today, arab today

US first quarter growth cut to 1.8%

Arab Today, arab today

Arab Today, arab today US first quarter growth cut to 1.8%

Washington - AFP

The US economy grew only 1.8 percent in the first quarter, the Commerce Department said Wednesday, in a sharp downward revision from the previous estimate of 2.4 percent. It said personal spending was lower than previously estimated, and that both exports and imports actually declined in the January-March period. The third and final estimate for the quarter suggested that the payroll tax increases that kicked in in January, and fears about government spending cuts introduced in March, encouraged US households and businesses to hold back. Consumer spending grew only 2.6 percent in the quarter, compared to the previous estimate of 3.4 percent. Exports shrank 1.1 percent in the quarter, and imports -- which act to lower growth in GDP calculations -- contracted 0.4 percent. Another sharp revision was business investment in buildings and other structures, which shrank by 8.3 percent in the quarter, compared to the earlier estimate of just a 3.5 percent contraction. Government spending also pulled GDP lower, contracting by 8.7 percent at the federal level and 2.1 percent at the state level. The numbers reflected the lethargic turn of the economy that began at the end of 2012, when the pace of growth was only 0.4 percent. The final number for first quarter growth was well below the expectations of economists, who thought the previous estimate would be unchanged. Although most say growth in the second quarter has been firmer than expected, the fresh data could temper some of the optimism that had filled markets and led the Federal Reserve to predict that it will start winding down its stimulus later this year. \"If we end up with three consecutive quarters of sub-2 percent growth, the Fed won\'t taper under those conditions. They need convincing signs of a pickup before they turn the taps,\" said economist Jennifer Lee of BMO Capital Markets.  

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

us first quarter growth cut to 18 us first quarter growth cut to 18

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

us first quarter growth cut to 18 us first quarter growth cut to 18

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today PNG police start removing refugees

GMT 03:00 2017 Friday ,24 November

PNG police start removing refugees
Arab Today, arab today Sophian Yussef reveals suitable decoration

GMT 02:56 2017 Thursday ,23 November

Sophian Yussef reveals suitable decoration
Arab Today, arab today Syria congress to go ahead

GMT 02:24 2017 Friday ,24 November

Syria congress to go ahead
Arab Today, arab today IS media offline for a day

GMT 02:10 2017 Friday ,24 November

IS media offline for a day
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Human form of 'mad cow' disease

GMT 00:11 2017 Friday ,24 November

Human form of 'mad cow' disease
Arab Today, arab today British woman jailed in Iran to appear

GMT 03:19 2017 Friday ,24 November

British woman jailed in Iran to appear
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mitsubishi Materials units falsified product

GMT 03:24 2017 Friday ,24 November

Mitsubishi Materials units falsified product
Arab Today, arab today 'Robo-taxis' hold promise, and perils

GMT 08:07 2017 Thursday ,23 November

'Robo-taxis' hold promise, and perils
Arab Today, arab today Solaf happy for participating in “Hotline”

GMT 07:56 2017 Wednesday ,22 November

Solaf happy for participating in “Hotline”
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 08:03 2017 Tuesday ,21 November

Abeer Sabry reveals reason of “The Flood” success

GMT 08:03 2017 Thursday ,23 November

Srebrenica women cry tears of joy

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts

GMT 09:12 2017 Thursday ,23 November

4 in 10 cancers due to modifiable risk

GMT 10:47 2017 Wednesday ,22 November

The Big Apple bike boom

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday